UPDATE: A revised version of this profile was published in June 2025.

On 2 July 2021, the board of Genesis Emerging Markets (GSS), the third-largest emerging markets trust valued at £1.1bn, surprised many people with the news that it planned to appoint the well-regarded emerging markets team at Fidelity International as its new manager. Here we look at what's being proposed and just how much emerging-market investing has changed over the last three decades.

Many investors have probably never heard of Genesis Emerging Markets and that's a big factor behind its board's decision to switch the t...