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Genesis Emerging Markets lags benchmark

20 February 2015 13:27

Genesis Emerging Markets Fund lagged its benchmark in the six months to the end of December.

The fund's net asset value fell by 0.4% while in sterling terms the MSCI Emerging Markets (Total Return) Index rose by 1.3%.

The fund's manager, Genesis Asset Managers, said: "Emerging market economic and stockmarket performance in 2014 disappointed even the low expectations held at the beginning of the year.

"Economic growth forecasts were downgraded across many emerging markets, with Russia, China, and Brazil recording significant downward revisions, as a result of poor performance of exports to developed economies, the drag on commodity exporters from lower prices, supply bottlenecks (such as in Brazil) and the withdrawal of monetary or fiscal stimulus."

At 1:27pm: (LON:GSS) Genesis Emerging Markets Fnd Ld share price was 0p at 522p

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