Emerging markets and Asia-focused investment trusts led market gains on Friday as investors responded to a partial recovery following Thursday’s sharp sell-off in artificial intelligence and technology shares.
Indian trusts were among the strongest performers, supported by gains in the Nifty 50 index and a weaker pound. Aberdeen New India rose 5.3%, while JPMorgan India Growth & Income gained 2.7%.
Fidelity Emerging Markets also recovered 4.6% on Friday, although it remained down 4% over the week, reflecting its significant exposure to technology stocks.
Japanese investment trusts continued to face pressure following a sharp decline in the Nikkei, while global growth and technology funds recovered some of their recent losses.
Private equity trusts remained weaker amid concerns about artificial intelligence disruption and the prospect of further interest rate increases.
Fidelity Emerging Markets Limited (LON:FEML) is an investment trust that aims to achieve long-term capital growth from an actively managed portfolio made up primarily of securities and financial instruments providing exposure to emerging markets companies, both listed and unlisted.
