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Fidelity China Special Situations

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Fidelity China Special Situations

Fidelity China Special Situations (LSE: FCSS) is a large British investment trust dedicated to long-term investments in Asia. Established in 2010, the company is a constituent of the FTSE 250 Index. The chairman is John Owen. The fund is managed by Dale Nicholls of Fidelity Worldwide Investment.

Launched with publicity over the stock-picking skills of Anthony Bolton, the launch, in April 2010, attracted £430 million in investment. A further £150 million followed with a second placing soon after. The fund attracted criticism due to its poor performance in 2011. Anthony Bolton was succeeded as Portfolio Manager by Dale Nicholls on 1 April 2014. Recently the trust fund has advanced its net asset value by 7.4%, due to the £26bn initial public offering of Alibaba Group. [1][2][3][4][5]

The firm reduced its annual management charge to 1.0% of net assets from 1 April 2014, at the same time as removing the commission paid to financial advisers.[6]

In addition, a performance fee is payable if the fund outperforms the MSCI China Index by more than 2%. The value of the fee is 15% of any outperformance, to a maximum of 1.0%.[7]

References

  1. ^ Investing. "Fidelity China NAV jumps 7% in a day after Alibaba windfall". Ivestment Week. Retrieved 2014-09-22. 
  2. ^ Investing. "Open Sesame! Alibaba boosts Fidelity China trust". CityWire. Retrieved 2014-09-22. 
  3. ^ Investing. "Anthony Bolton to stay on to try to recoup losses". Telegraph. Retrieved 2012-04-21. 
  4. ^ "Anthony Bolton apologises for China fund's poor performance". Telegraph. Retrieved 2012-04-21. 
  5. ^ "Dave Nicholls replaces Anthony Bolton as Portfolio Manager". Citywire. Retrieved 2013-12-19. 
  6. ^ "FE Investigate Fidelity China (FCSS)". http://www.investegate.co.uk/. Retrieved 2014-06-06. 
  7. ^ "summary". fundweb.co.uk. Retrieved 2014-03-09. 

External links

  • Official site
  • Fidelity China Special Situations
  • FCSS Fund Overview
  • FCSS Annual Report


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