Fidelity Emerging Markets Limited, managed by Chris Tennant and Nick Price, is seeing strong performance driven by rising metals prices and demand for technology components from companies in Taiwan and South Korea. The trust has delivered a 74 percent return for investors over the past year, significantly outpacing its peers. Its portfolio includes leading tech and mining companies across Asia and Latin America, with notable gains from Chinese firm Sieyuan Electric. The trust sets itself apart by using advanced financial strategies to enhance returns, including both long and short positions on selected stocks.

Tennant highlights opportunities in emerging markets, citing innovation in China and undervalued companies in Eastern Europe and Latin America. The trust's approach has contributed to its outperformance, with a portion of gains coming from successful shorting strategies. Its annual charges are 0.83 percent, and it remains distinct from its sister fund, which has not matched its recent returns.