Fidelity Emerging Europe, Middle East and Africa (EMEA) Fund
Sunday, June 1st, 2008I recently went to the Fidelity home page and was welcomed by the news that they had created a new mutual fund. The name of the fund is the Fidelity Emerging Europe, Middle East and Africa (EMEA) Fund. The fund focuses on “the region of emerging economies from Russia through Eastern Europe and the Middle East and the entire African continent.”
Countries in the EMEA region could be seen to be highly risky because of the possibility of instability within the region. A major reason though that this area could potentially become profitable is because the “region is rich with natural resources which are in high demand in fast expanding economies. The region benefits from strong oil reserves, industrial metals, and precious metals.”
Countries in this region could potentially stand to have the largest percentage gains in their respective economies in comparson to the rest of the world. Traditionally, the EMEA region has “had low correlation to US and Developed (Europe, Australia and Far East) markets, as well as low inter-market correlation.”
As of 5/30/08 the fund had a NAV of $10.10 with an expense ratio of 1.42%. The average expense ratio for emerging market funds is 1.77%. This fund has been open since 5/8/09. To invest in this fund through Fidelity, one needs an initial deposit of $2500 and maintain a minimum balance of $2000. To find out more about this fund, click here. You can also find a quote for this fund from any financial website by using the symbol FEMEX.