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Friday June 08, 2012
Fidelity best emerging picks
by Jim Lowell, editor Fidelity Investor Despite fears of a global meltdown, many emerging markets continue to post earnings and economic growth rates that would be the envy of any marketplace, anywhere, anytime. That’s not to say, however, that emerging markets aren’t still prone to a multiple of the kinds of risk and performance volatility we see across the pond in the Eurozone and even here at home. They still are, but that tether increasingly looks like it’s born of a kind of emotive performance behavior rather than being fundamentally grounded. Two of the funds I like most in this space are Fidelity New Markets Income (FNMIX) and Fidelity Total Emerging Markets (FTEMX). New Markets Income is Fidelity’s emerging markets bond fund. Manager John Carlson invests primarily in bonds of emerging markets countries, but may make equity investments as well. The current mix is 1.2% in equities, 94.9% in bonds, and 3.9% in cash. It began trading in May 1993 and has a market value of over $5 billion. The top five country representations are Venezuela (14.8%), US (9.9%), Mexico (8%)and Brazil (6.9%). At Total Emerging Markets, lead manager John Carlson invests approximately 60% of assets in emerging markets equities, and 40% in emerging markets bonds. He seeks to distribute assets across different emerging markets sectors using different Fidelity managers. It began trading in November 2011 and has a market value of $68 million. The top five country representations are Brazil (12.4%), Korea (9.3%), China (8.8%), Russia (7.8%), and the US (7.4%). The top three sectors are financials (17.3%), energy (9.9%), and information technology (9.9%). Learn more about this financial newsletter at Jim Lowell's Fidelity Investor. Related articles: 
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