Fact sheet: Fidelity Special Values

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
UK GROWTH
Sector
IT UK All Companies
Fund type
Investment Trust
Primary aim
GROWTH
Why Money Observer Rates Fidelity Special Values

This is Fidelity's flagship investment trust. It celebrated its 20th anniversary at the end of 2014 and since Alex Wright took over the management of this trust in September 2012, there has been a marked improvement in its performance.

Wright takes a contrarian approach, looking for out-of-favour stocks he believes are mispriced. Although he can invest across the size spectrum, he tends to find most opportunities and ideas at the small-company end of the spectrum.

He points out that there are two key elements to his approach. He seeks to avoid risk by considering the possibility of losing money before he invests in a company. He looks for businesses where this risk is limited.

He then looks at the potential for events that could significantly improve a company's earning power, such as changes in its management or market. He takes advantage of the flexibility to invest up to 20 per cent of the trust outside the UK.

3 Year Performance
Fund Performance95.4%
Average of Rated Funds Group62.2%
Sector Performance54.7%
Fund information
Fund name
Fidelity Special Values PLC
Fund manager company
Fidelity (FIL Invt Intl)
Fund type
Investment Trust
Fund managers
  • Alex Wrightsince 31/08/2012
Accolades
Fund objective
This fund invests mainly in UK-listed companies. The portfolio is likely to have a bias towards medium-sized and smaller companies. The portfolio manager is a value investor, naturally seeking out stocks that are often unloved and unfashionable at the current time.
Benchmark
  • FTSE All Share TR
Investment style
Value
Investment method
No data available.
Quick stats
1 Year return
11.1%
1 Year rank in sector
4/15
Sector
IT UK All Companies
Yield
2.2%
Fund size
£103m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
97
Mid price
192.75
NAV
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
201.42
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
-6.17
Gearing
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
107
Top in this sector
Fund name1 Year
JP Morgan Mid Cap IT plc33.4%
Mercantile IT PLC19.8%
Invesco Perp Sel UK Eq plc11.2%
Fidelity Special Values PLC11.1%
Crystal Amber9.1%
...more in IT UK All Companies

Performance snapshot

Holdings snapshot

  • UK80.5%
    USA8.2%
    France4.8%
    Ireland2.3%
    Austria1.3%
  • Financials37.6%
    Industrials28%
    Consumer Services16.3%
    Oil & Gas7.5%
    Consumer Goods6.9%
  • UK Equities80.1%
    US Equities8.8%
    French Equities4.2%
    Irish Equities2.2%
    Austrian Equities1.3%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-6.4%-4.3%8.1%11.1%95.4%97.1%
Sector-3.7%-2.9%3.3%4.5%54.7%68.4%
Rank within sector13 / 1611 / 164 / 154 / 154 / 156 / 15
Quartile4th3rd2nd2nd2nd2nd
Calendar performance
 YTD - 20152014201320122011
Fund12.4%-4.6%55.3%31%-16%
Sector6.8%-1.7%31.3%20.3%-11.1%
Rank within sector4 / 1511 / 154 / 156 / 1510 / 15
Quartile2nd3rd2nd2nd3rd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
5.84
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1.21
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
1.79
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
12.57
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
6.9
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
1.26
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.71
Price movement
52 week high213.25
52 week low161.3
Current bid price193
Current offer price196
Current mid price192.75
Region
1UK80.45%
2USA8.23%
3France4.84%
4Ireland2.32%
5Austria1.26%
6Canada1.16%
7Switzerland1.06%
8Germany0.68%
9Hong Kong0.19%
Industry sector
1Financials37.61%
2Industrials27.95%
3Consumer Services16.25%
4Oil & Gas7.45%
5Consumer Goods6.87%
6Basic Materials4.06%
7Health Care3.87%
8Technology2.61%
9Telecommunications2.13%
Asset type
1UK Equities80.09%
2US Equities8.76%
3French Equities4.19%
4Irish Equities2.19%
5Austrian Equities1.33%
6Canadian Equities1.24%
7German Equities1.24%
8Swiss Equities0.48%
9Brazilian Equities0.19%
Individual holdings
1HSBC HLDGS4.9%
2DCC4.5%
3CITIGROUP INC4.1%
4ELECTRONIC ARTS3.5%
5LLOYDS BANKING GROUP PLC3.2%
6CLS HLDGS3.1%
7ROYAL DUTCH SHELL3.1%
8UDG HEALTHCARE PLC3%
9ICAP2.8%
Management
Fund manager group
Fidelity
Fund manager company
Fidelity (FIL Invt Intl)
Fund type
Investment Trust
Fund objective
This fund invests mainly in UK-listed companies. The portfolio is likely to have a bias towards medium-sized and smaller companies. The portfolio manager is a value investor, naturally seeking out stocks that are often unloved and unfashionable at the current time.
Benchmark
  • FTSE All Share TR
Investment style
Value
Investment method
No data available.
Fund managers
NameSinceBiography
Alex Wright31/08/2012Alex Wright started his career at Fidelity in 2001 as an analyst covering a range of sectors including UK small caps. In March 2008 he became portfolio manager of the Fidelity Institutional UK Smaller Companies Fund. Alex has a BSc (Economics) from Warwick University and holds the CFA.
Compliance
AIC Member
Domicile
No data available.
Fund for sale in
United Kingdom
Fidelity Special Values PLC
Initial charge-
Annual charge0.88%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)1.23%
Bid price193
Offer price196
Mid price192.75
CurrencyGBX
Price updated02/09/2015
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFI12
Data provided by

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