Fidelity Special Values PLC

UK Growth

Rated Fund 2013-2018. A good choice for optimistic investors

Last year was another strong year for Alex Wright, manager of Fidelity Special Values since 2012, thanks to his exposure to cyclical areas of the market that have marched ahead as global economic growth continues.

Should the positive momentum continue, his biases towards financials and industrials should bode well for performance in 2018, says stockbroker Cantor Fitzgerald, making this investment trust a strong contender for those optimistic about sustained economic growth.

Wright has turned the fund around after performance faltered following Anthony Bolton's departure in 2007, and has nailed his colours to the mast with his contrarian approach. He looks for companies that are cheap and out of favour, but are showing signs of recovery or restructuring. He fishes predominantly in the UK small companies pool when seeking opportunities. This has generally been an advantage in recent years, but it can lead to short-term fluctuations.

Unlike many UK growth-oriented funds, Fidelity Special Values can hold some international stocks. Currently it has 5.8 per cent of assets in Citigroup and 2 per cent in Alphabet, Google's parent, both of which are listed in the US.

The ongoing charges are a relatively expensive 1.1 per cent, but shares can typically be picked up at a discount to net asset value. They traded at a low to mid single-digit discount through 2017.

Narrative and ratings content all as of 01 January 2018.

See all Money Observer rated funds
Name
Fidelity Special Values PLC
Manager
Fidelity Investment Services Ltd
Type
Closed Ended Investment Company
ISIN
GB00BWXC7Y93
Sector
UK All Companies
Launched
17/11/1994
OCF
1.05 %
Risk Rating
3
3 Year Sharpe
0.90
3 Year Alpha
6.01
Yield
1.9 %
Benchmark
FTSE AllSh TR GBP
Fund Size
£ 649.84 million
NAV
246
Gearing
119
Discount Premium
0
The Fund aims to achieve long term capital growth primarily through investment in equities (and their related securities) of UK companies which the Investment Manager believes to be undervalued or where the potential has not been recognised by the market. The investment approach is flexible, with positions in large, medium and smaller sized companies, across all industries.
Holding %
Ftse 250 Index_fut 5.89 %
Citigroup Inc 5.42 %
CRH PLCCFD 4.49 %
Lloyds Banking Group PLC 4.01 %
BP PLC 3.99 %
Shire PLC 3.96 %
Pearson PLC 3.83 %
Phoenix Group Holdings 3.26 %
Royal Dutch Shell PLC Class A 2.71 %
Ultra Electronics Holdings PLC 2.61 %
Region %
United Kingdom 69.00 %
United States 16.62 %
Eurozone 10.93 %
Sector %
Financial Services 25.05 %
Industrials 22.48 %
Consumer Cyclical 15.01 %
Energy 9.29 %
Consumer Defensive 7.78 %
Technology 5.92 %
Healthcare 5.44 %
Basic materials 5.12 %
Name
Fidelity Investment Services Ltd
Address
KT20 6RP, Tadworth, United Kingdom
UCITS
No
Legal Structure
Closed Ended Investment Company

Managers

Alexander Wright
Joined 09/01/2012

Alex Wright has 13 years of investment experience. He joined Fidelity in 2001 as a European equity research analyst, successively covering building materials, alcoholic beverages, leisure, emerging European and African banks and UK small-cap stocks. He became portfolio manager of the Fidelity UK Smaller Companies Fund in 2008. He continues to manage this fund alongside the Fidelity Special Situations Fund and the Fidelity Special Values PLC, which he started managing in 2012.

Data provided by Morningstar.

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Money Observer and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Morningstar. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.