The Fidelity Emerging Markets trust has seen a steep decline in the last year, losing 30% in share price total return, and 27.9% of net asset value. In the trust's annual results for the year ended 30 June 2022, chair Hélène Ploix said that while there had been multiple factors for the poor performance of the portfolio, "the most significant of these was doubtless Russia's invasion of Ukraine". The trust has an overweight position in Russia prior to the invasion, an event the chair had "not been anticipated". She commented that this overweight was slightly offset by the use of a he...
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