London, UK, 1 April 2020
Edison issues review on Genesis Emerging Markets Fund (GSS)
Launched in 1989, Genesis Emerging Markets Fund (GSS) is one of the first UK-listed funds focused on investing in equities in emerging and developing countries. Its primary objective is to deliver long-term capital growth through a bottom-up approach to investing in high-quality companies with sustainable earnings growth. GSS has a solid performance track record, and has outperformed its benchmark over one, three, five and 10 years to end-February. Emerging markets equities have suffered a significant setback in response to the COVID-19 pandemic and the fund's discount to NAV is wider than average, which may present an opportunity for long-term investors.
GSS currently trades at an unusually deep 12.3% discount to its cum-income NAV, which is below its three-year average of 11.9%. Perceived as a riskier asset class, emerging markets equity funds have been heavily sold off in response to the COVID-19 pandemic. There is scope for share prices to recover, and the discount to narrow, should investor sentiment improve.
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