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
FIL Investments International
Closed Ended Investment Company
UK All Companies
1.05 %
Risk Rating
3 Year Sharpe
3 Year Alpha
2.2 %
Fund Size
£ 670.09 million
Discount Premium
To achieve long term capital growth primarily through investment in equities (and their related financial instruments) of UK companies which the Investment Manager believes to be undervalued or where the potential has not been recognised by the market.
Holding %
Ftse 250 Index_fut 5.82 %
Citigroup Inc 5.51 %
Lloyds Banking Group PLC 4.53 %
Shire PLC 4.27 %
BP PLC 4.22 %
Pearson PLC 3.74 %
Phoenix Group Holdings 3.25 %
Meggitt PLC 3.04 %
Aviva PLCCFD 3.03 %
Region %
United Kingdom 68.64 %
United States 15.98 %
Eurozone 10.43 %
Sector %
Financial Services 23.37 %
Industrials 22.90 %
Consumer Cyclical 14.09 %
Energy 9.98 %
Consumer Defensive 7.77 %
Technology 6.57 %
Healthcare 6.29 %
Basic materials 5.01 %
FIL Investments International
TN11 9DZ, Tonbridge, United Kingdom
Legal Structure
Closed Ended Investment Company


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.

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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.