The $4.2bn (£2.1bn, €2.7bn) Fidelity Funds Emerging Markets fund is a US-based fund that invests principally in areas experiencing rapid economic growth, such as Latin America, south-east Asia, Africa, eastern Europe and the Middle East.

The fund is managed by Robert von Rekowsky, who draws on the support of a five-strong team of emerging markets specialists who, in turn, draw on the expertise of Fidelity’s global team of sector specialists. Mr von Rekowsky’s job is largely to corral the best ideas of these many specialists and decide which of them make their way into the fund.