The latest addition to the Fidelity Active STrategy is Luxembourg-domiciled and will draw on the experience of the existing EM team.
Suranjan Mukherjee will is co-portfolio manager, with Alex Duffy and Angel Ortiz providing Latin American equities research and Ludmila Gavrilova supporting on the EMEA equities side.
The FAST range is a group of active extension products which are designed to relax the constraints of a traditional long-only approach with the aim of delivering enhanced performance and risk-adjusted returns.
Already in the range are the FAST Europe, FAST Japan and FAST UK funds.
Fidelity said: "As with the other FAST equity funds, the FAST Emerging Markets Fund will utilise additional tools such as shorting stocks and option strategies, which provide greater flexibility to express both positive and negative investment views to add alpha and manage risk."
The benchmark for the fund is the MSCI Emerging Markets Index and the net equity exposure will be in the range of 90% to 110%.
Price has been with Fidelity for 13 years and has managed EM portfolios since 2005. He is currently the manager of the FF Emerging Markets Fund, the FF EMEA Fund and the FIF EMEA Fund.
He said: "My long-term view on the emerging markets is very positive, due to the compelling structural drivers of faster economic growth, increasing consumption, urbanisation and infrastructure, and commodity wealth in these economies."
The fund can have up to 135% of its net assets in long equity exposure and up to 30% of its assets in short equity exposure.
Price added: "Thanks to the long extension the fund gives investors greater opportunity to benefit from more of our favoured positions."
FAST has an annual management fee of 1.5% for the class A (USD and EUR hedged) shares and 1% for the class Y (USD and GBP) shares.
A performance fee of 20% of the outperformance is applicable if returns exceed the benchmark by 2% on an annualised basis and minimum investment is $50,000 for the A share class and $1m for the Y share class.
