Fidelity China Special Situations: Focus On Quality And Value
Edison | Apr 04, 2017 07:57AM ET
Fidelity China Special Situations (LON:FCSS) was launched in April 2010 aiming to generate long-term capital growth from investing in Chinese companies or companies that generate the majority of their revenues in China. Manager Dale Nicholls invests for the long term, seeking companies with long-term growth potential that are trading at reasonable valuations. FCSS’s NAV and share price absolute total returns have been very strong over the last 12 months, and the trust has meaningfully outperformed the index over one, three and five years and since the fund’s inception. FCSS has also outperformed the majority of its open- and closed-ended peers over one, three and five years.
Investment strategy: Focus on quality and value
The manager has a bottom-up investment approach and the bulk of the portfolio is invested in mid- and small-cap stocks with positive growth profiles that he believes are mispriced. He is able to draw on Fidelity’s broad analyst team to build a portfolio, typically comprising 130 to 140 positions, focusing on companies with robust cash flows and strong management. Site visits and meeting company managements are a key part of the investment process. Gross gearing at end-February 2017 was 27.5%, this compares to the permitted level of 30.0%.
To read the entire report Please click on the pdf File Below
Fidelity China Special Situations - Still Finding Investment
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.