Fidelity launches EMD local currency fund

Fidelity has added a new product to its emerging market debt fund range, taking the total number of products to four.

The FF Emerging Market Local Currency Debt fund is managed by Steve Ellis and Eric Wong. It aims to deliver an income through a portfolio of EM sovereign bonds from countries including Russia, Mexico, South Africa, Turkey, Poland, Indonesia, and Thailand. Ellis said the emerging market debt story is supported by strong fundamentals and has much further to run. "The super secular growth story of emerging markets has a long way to go. The continued development of local EM markets has taken hold. This dynamic will look to persist for the foreseeable future," he said. "The current EM l...