Trust Issues: Investing in emerging markets with FEML's Chris Tennant

In this episode of Trust Issues, Chris Tennant, co-manager of Fidelity Emerging Markets (FEML), discusses the trust's differentiated features, how emerging market tech exposure differs from that in the US, and why Indonesia could be the most underestimated developing economy around.

00:00 Introduction

01:05 How FEML differentiates itself from its emerging market sector peers

03:11 What FEML looks for when investing in a company

04:33 How FEML identifies companies to short

07:14 How emerging markets' technology and AI exposure differs from America's

08:54 Opportunities FEML is finding in the Chinese technology space

10:04 Why FEML likes India, but is underweight for now

12:13 The value FEML sees within emerging market equities as it emerges from the wilderness

14:09 Do emerging market equities still diversify portfolios away from US large-cap tech?

15:27 Which part of the market is being underestimated today?

17:19 Further information

17:53 Risk warning

Our latest note on FEML - https://www.trustintelligence.co.uk/investor/articles?fund_id=1577

FEML website - https://investment-trusts.fidelity.co.uk/fidelity-emerging-markets-limited

Please note that this podcast was recorded on 13 October 2026.