Fidelity China Special Situations

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Fidelity China Special Situations (LSEFCSS) is a large British investment trust dedicated to long-term investments in China. 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 much publicity over the stock-picking skills of Anthony Bolton, the launch, in April 2010, which attracted £430 million in investment, was one of the largest ever. A further £150 million followed with a second placing soon after. Since then the fund attracted a great deal of criticism due to its poor performance in 2011. Anthony Bolton was succeeded as Portfolio Manager by Dale Nicholls on 1st April 2014. [1][2][3]

The firm reduced its annual management charge to 1.0% of net assets from 1st April 2014, at the same time as removing the commission paid to financial advisers. [4]

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%.[5]

References[edit]

  1. ^ Investing. "Anthony Bolton to stay on to try to recoup losses". Telegraph. Retrieved 2012-04-21. 
  2. ^ "Anthony Bolton apologises for China fund's poor performance". Telegraph. Retrieved 2012-04-21. 
  3. ^ "Dave Nicholls replaces Anthony Bolton as Portfolio Manager". Citywire. Retrieved 2013-12-19. 
  4. ^ "FE Investigate Fidelity China (FCSS)". http://www.investegate.co.uk/. Retrieved 2014-06-06. 
  5. ^ "summary". fundweb.co.uk. Retrieved 2014-03-09. 

External links[edit]