19 Jan 2026
By Chris Forgan,Portfolio Manager, Fidelity Solutions & Multi Asset
In this monthly video series, our Multi Asset team dissect what's changed in markets, what's new and what they're keeping an eye on. This month, portfolio manager Chris Forgan turns the spotlight on emerging markets – where lower valuations, a softer US dollar, and policy flexibility are creating a compelling backdrop.
The ideas and conclusions here do not necessarily reflect the views of Fidelity’s portfolio managers and are for general interest only. The value of investments can go down as well as up, so your clients may not get back what they invest.
Portfolio Manager, Fidelity Solutions & Multi Asset. Chris Forgan is a Portfolio Manager at Fidelity Multi Asset. Chris has 22 years of investment experience and joined Fidelity in 2017. Prior to joining Fidelity, Chris was a Portfolio Manager at Henderson Global Investors, in their Multi Asset team focusing on their income fund range. Previously Chris worked as an analyst at Henderson Global Investors, a senior performance analyst at First State Investments and began his career on the trading floor at Deutsche Morgan Grenfell. Chris has an BA (Hons) Marketing Administration from the University of Northumbria.
This information is for investment professionals only and should not be relied upon by private investors. The Fidelity Multi Asset funds use financial derivative instruments for investment purposes, which may expose the fund to a higher degree of risk and can cause investments to experience larger than average price fluctuations. The investment policy of these funds means they invest mainly in units in collective investment schemes. Changes in currency exchange rates may affect the value of investments in overseas markets. Investments in emerging markets can be more volatile than other more developed markets. There is a risk that the issuers of bonds may not be able to repay the money they have borrowed or make interest payments. When interest rates rise, bonds may fall in value. Rising interest rates may cause the value of your investment to fall. The price of bonds with a longer lifetime until maturity is generally more sensitive to interest rate movements than those with a shorter lifetime to maturity. The risk of default is based on the issuers ability to make interest payments and to repay the loan at maturity. Default risk may therefore vary between government issuers as well as between different corporate issuers. Sub-investment grade bonds are considered riskier bonds. They have an increased risk of default which could affect both income and the capital value of the fund investing in them.
UKM0925/405071/SSO/NA