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
Fidelity Special Values PLC
Fidelity Investment Services Ltd
Closed Ended Investment Company
UK All Companies
1.06 %
Risk Rating
3 Year Sharpe
3 Year Alpha
1.7 %
Fund Size
£ 688.41 million
Discount Premium
The investment objective of the company is to achieve long-term capital growth predominantly through investment in UK listed companies. The company will have a blend of investments in larger, medium and smaller-sized companies and be guided by a contrarian philosophy. The company may invest directly in the shares of companies or indirectly through equity-related instruments (such as derivative contracts, warrants or convertible bonds) and in debt instruments.
Holding %
Ftse 250 Index_fut 5.96 %
Citigroup Inc 5.16 %
Lloyds Banking Group PLC 4.12 %
Shire PLC 3.95 %
Royal Dutch Shell PLC Class A 3.94 %
Pearson PLC 3.73 %
Ultra Electronics Holdings PLC 2.89 %
BP PLC 2.79 %
Bunzl PLC 2.66 %
Region %
United Kingdom 72.69 %
United States 13.56 %
Eurozone 11.02 %
Sector %
Financial Services 23.93 %
Industrials 23.32 %
Consumer Cyclical 15.21 %
Energy 9.44 %
Consumer Defensive 7.26 %
Technology 6.28 %
Basic materials 5.99 %
Fidelity Investment Services Ltd
KT20 6RP, Tadworth, United Kingdom
Legal Structure
Closed Ended Investment Company


Alexander Wright
Joined 09/01/2012

Alex 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.

Data provided by Morningstar.

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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.