Genesis Emerging Markets Fund (GSS) 2020年年度报告「LSE」.pdf

1、EMERGING MARKETS FUND LIMITEDANNUAL FINANCIAL REPORTFOR THE YEAR ENDED 30 JUNE 2020We aim to generate excellent long-term investment performance in Emerging Market equities for our shareholders.In doing so,we will uphold our values and consider the interests of all stakeholders.Investment ObjectiveT

2、he investment 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 low-and middle-income countries.Investment ApproachThe investment approach is to identify companies which are able to take

3、 advantage of growth opportunities in Emerging Markets and invest in them when they are trading at an attractive discount to the Investment Managers assessment of their intrinsic value.StructureGEMF is a Guernsey based Authorised Closed-Ended Investment Scheme with the ability to issue additional sh

4、ares.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 in issue is 121,466,754 as at 30 June 2020(30 June 2019:121,466,754).Investment

5、ManagerThe investment manager of the Fund is Genesis Investment Management,LLP(the Investment Manager or Genesis).More information on Genesis and their investment philosophy and process can be found on pages 12 to 15.Contents Strategic Report 02 Financial Highlights and Performance 04 Chairmans Stat

6、ement 06 Strategy,Business Model and Principal Risks Portfolio Report 12 Investment Manager 13 Our Values 14 Investment Philosophy and Process 16 Investment Team 18 Investment Managers Review 22 Geographical Diversification 24 Country and Sector Exposure of the Portfolio 26 Twenty Largest Holdings 2