Fidelity Emerging Markets Share Discussion Threads

[elbrus55] 02/4/2024 10:12

From HLs FAQsDoes Hargreaves Lansdown charge for administering corporate actions?No, it is free to participate in corporate actions through Hargreaves Lansdown

[31337 c0d3r] 28/3/2024 10:36

37.61% with HL.

They seem to have deducted £12.65, dealing costs? Bit cheeky.

Cash shows as a new entry in portfolio, but not yet available for dealing. So can't buy them back yet.

[elbrus55] 28/3/2024 07:58

Yes, same. Everyone with ii should get the same percentage (Subject to rounding to a whole share)

[lowtrawler] 28/3/2024 07:26

Appeared on my account this morning. Equivalent of 26.69% of my shares tendered and so very pleased with that.

[ferrox5] 27/3/2024 17:55

Today is the day that the funds are sent to Fidelity. They will say that they need time to calculate each person actual allocation. It may be a bit more than that announced if some II holders didn't tender.

[biggest bill] 27/3/2024 16:20

I'm also with Interactive Investor. Nothing in my account either.

[lowtrawler] 27/3/2024 16:16

I thought everything was meant to settle today? I'm with Interactive Investor and nothing showing in my account as yet, anybody else?

[31337 c0d3r] 26/3/2024 08:50

Strange how they've put the 13,531,881 purchased shares through the market as 2 x 6,765,940 Ordinary trades (though ADVFN seems to have duplicated them several times).

[31337 c0d3r] 26/3/2024 08:37

Tender Offer results: 15.99% at £7.4030 per share (for shareholders on the official company share register. May be a different percentage for nominee holders).

[elbrus55] 17/3/2024 10:12

Yes, except HL may themselves get a little bit more than 15% because some directly registered shareholders don't tender. (see RNS)In effect, you then get pooled with other shareholders with your nominee broker (HL etc), so if other customers don't tender you can do quite well and get a significantly higher percentage than you would have got had you held the shares directly.You should expect the share price discount to increase by about two percent on Monday because the shares are a little less valuable without the tender option

[steve3sandal1] 16/3/2024 10:09

That's what I've done though it was supposed to be a closely guarded secret.?. One observation. I think over tendered shares held in nominee names or platforms will get scaled back to whatever the platform tenders on our behalf. Eg All over tendered at HL will get the same as FEML will only settle HL at 14.99% and HL share this evenly. Hope I've not muddied these waters but I know what I'm trying to say.

[elbrus55] 15/3/2024 11:23

You should tender all your shares. You will get a bit more than 15% because a few shareholders will fail to do so.

[lowtrawler] 15/3/2024 10:45

Anyone got a view on the tender offer? It looks like a sure fire winner. Based on the most recent NAV, the company will buyback 15% of your holding for about 730p and you can currently buy for 665p. You can tender to sell more but will likely only have 15% met. Pretty much a guaranteed gain of 65p per share for 15% of your holding.

[biggest bill] 12/3/2024 17:06

After reading the interim report, it looks as if part of the recent nav outperformance might be due to the short position in electric car manufacturers. To be clear, the nav outperformance has come after the interim period end date.

[elbrus55] 29/11/2023 04:22

Yes, with the recent own share purchases and the upcoming tender offer the discount has narrowed a bit as you would expect.There's a continuation vote in 2026. The company seems much more likely to survive that if the discount is down to c.10%, rather than the c.15% it was at in recent months.

[tonysss13] 27/11/2023 14:57

tender offer for 15% oc the co at 2% discount to NAV if i read that right

NAV around 679p ?

[biggest bill] 07/6/2023 14:17

Two directors have now bought shares in the last week. Another positive indicator.

[biggest bill] 07/6/2023 11:09

The latest research note from Kepler is a good read.

[alan pt] 17/4/2023 16:38

I think that's what it had already fallen to by the point they zeroed it...

Fidelity took over from Genesis around Oct 21 and promptly increased the Russia exposure from 6.6% to 20%, despite the obvious risks

Almost all details of that period have been conveniently removed from the Fidelity website (even the 2021 half year report link actually sends you to the 2022 report!), however they have not persuaded Edison to airbrush the past:
hxxps://www.edisongroup.com/research/refocusing-on-higher-returns/30346

[wskill] 17/4/2023 14:18

So Fidelity had a 7.6% weighting in Russia before the fall around 63p per share now valued at zero if I am correct ?

[biggest bill] 11/3/2022 11:31

The Russian assets have now been written down to virtually nothing. Feml is now at a larger than usual discount to all of its remaining assets. This may now be a decent entry point. If the Russian assets are realisable in the future at any sort of price, this would be a nice bonus.

[riverman77] 08/3/2022 14:59

Discount has gone from around 10% to 18%, which is probably warranted in the circumstances.

[arja] 04/3/2022 19:03

I notice this trust had a big discount to NAV before the Ukraine tragedy and hence
not oversold I guess .

[riverman77] 02/3/2022 19:30

Looks like they really screwed up with the Russia bet - big overweight which is now probably more or less worthless. Will take a long time to claw back that underperformance. Not a great start.

[alan pt] 07/1/2022 09:06

Looking forward to reading the next fund update on how those new investments in Kazakhstan are doing...