Fidelity China Special Situations

LN: FCSS

£1180.3m market cap

215p last close

Fidelity China Special Situations aims to achieve long-term capital growth from an actively managed portfolio made up primarily of securities issued by companies listed in China or Hong Kong and Chinese companies listed elsewhere. It may also invest in listed companies with significant interests in China and Hong Kong.

Investment summary

Fidelity China Special Situations (FCSS) offers investors direct exposure to China for a portion of their portfolio, aiming to deliver long-term capital growth from investing in companies listed in China, and Chinese companies listed elsewhere. Since the trust’s inception in April 2010, FCSS’s NAV total return has increased by nearly 11% pa. The portfolio has a bias towards mid- and small-cap companies, which tend to be less well researched and potentially mispriced. The manager, Dale Nicholls, is focused on opportunities related to rising domestic consumption, which in his view is unlikely to be disrupted by the ongoing US-China trade dispute.

Share price graph
Price performance
%
1m
3m
12m
Actual 0.9 4.4 10.7
Relative* (0.2) 1.4 6.3
52-week high/low 250.0p/183.4p
*% relative to local index
Key management
Nicholas Bull Chairman
David Causer Chairman of the Audit Committee

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