Fidelity separates Russian assets from EMEA fund via split to new sustainable portfolio

The split, which will occur on 24 March, will see all assets of the fund transferred to the new Fidelity Sustainable Emerging Markets Equity (SEME) fund, except for its Russian holdings. A Fidelity spokesperson explained that "existing Russian holdings will remain in the EMEA fund, effectively making it an ‘external side pocket'". Investors in the EMEA fund will continue to hold shares in the fund, while also receiving an equal number of shares in the new SEME fund. The SEME fund will have a "new and differentiated investment policy" to the previous fund, a Fidelity spokesperson sa...