Genesis Emerging Markets Fund (GSS) 2019年年度报告「LSE」.pdf

1、EMERGING MARKETS FUND LIMITED2019Annual Financial Reportfor the year ended 30th June 2019|1Genesis Emerging Markets Fund L Contents Strategic Report Portfolio Report Governance Report Financial StatementsTable of ContentsIntroduction.2Strategic ReportHighlights and Performance.4Chairmans Statement.6

2、Strategy,Business Model and Principal Risks.8Portfolio ReportManagers Review.14Country and Sector Exposure of the Portfolio.17Twenty Largest Holdings.18The Portfolio.21Governance ReportBoard of Directors.28Directors Report.30Directors Remuneration Report.36Audit and Risk Committees Report.38Nominati

3、on Committees Report.41Statement of Directors Responsibilities.43Financial StatementsIndependent Auditors Report.46Statement of Financial Position.50Statement of Comprehensive Income.51Statement of Changes in Equity.52Statement of Cash Flows.53Notes to the Financial Statements.54Remuneration Disclos

4、ure.74Administration.75Glossary of Terms.76 Notice of Annual General Meeting.78NOTE:All reference to US dollars or$throughout this report are to the United States Genesis Emerging Markets Fund Limited2|Contents Strategic Report Portfolio Report Governance Report Financial StatementsIntroductionObjec

5、tiveThe objective of Genesis Emerging Markets Fund Limited(the Fund or GEMF)is to achieve long-term capital growth,primarily through investment in listed equity markets of developing countries.StructureGEMF is a Guernsey based Authorised Closed-Ended Investment Scheme with the ability to issue addit

6、ional shares.The Funds shares are listed on the premium segment of the Official List of the UK Listing Authority,traded on the London Stock Exchange and are included in the FTSE 250.The number of Participating Preference Shares outstanding is 121,466,754 as at 30th June 2019(30th June 2018:134,963,0