Fidelity International has launched a Luxembourg-domiciled Emerging Europe, Middle East and Africa fund.
The benchmark of the fund is the MSCI Emerging EMEA Index (capped 5%). However, the manager will not be constrained to this benchmark and will therefore be able to invest in other countries in the region such as Bulgaria, Estonia, Kazakhstan, Latvia, Lithuania, Oman, Qatar, Romania, Slovenia and the United Arab Emirates.
The fund has dollar, euro and sterling share classes. The sterling share class has an initial charge of 3.5% and an annual management charge of 1.5%. The minimum investment in this share class will be £1,000 for lump sum investments and £50 for monthly savings plans.
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