Fidelity Emerging Markets Limited (FEML) Ptg NPV

To achieve long term growth by primarily investing in companies whose head office, listing, assets, operations, income, or revenues are predominantly in or derived from emerging markets, both listed and unlisted. The Company is also able to use derivatives for efficient portfolio management, to gain additional market exposure and to seek a positive return from falling asset prices.

Under the Management Agreement, the Investment Manager is entitled to receive a management fee of 0.60% of net asset value. The fee is calculated and charged daily and payable monthly in arrears.

The Fund distributes substantially all income received (net of withholding taxes) annually after allowing for expenses. Single dividend will be paid during the financial year.

Nick Price

Nick Price is Fidelity’s primary Global Emerging Market (GEM) and Emerging EMEA equity portfolio manager. He joined Fidelity in January 1998 as a research analyst before being selected as the assistant portfolio manager for Fidelity’s flagship European Growth Fund in 2004. He launched the team’s first EMEA portfolio in late 2005 and was later appointed to manage Fidelity’s GEM strategies in mid 2009. Before joining Fidelity, Nick worked for a variety of investment banks in London and prior to that, worked as a Senior Auditor for PriceWaterhouse in Johannesburg. Nick holds a Bachelor of Commerce and Diploma in Accounting from the University of Natal, is a Member of the South African Institute of Chartered Accountants and is a CFA Charterholder.

Heather MannersChairman, Katherine Tsang, Mark Little, Torsten Koster, Simon Colson