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Fidelity China Special Situations PLC (FCSS) Ordinary Shares 1p

Sell:314.50p Buy:317.00p 0 Change: 2.50p (0.80%)
FTSE 250:1.18%
Market closed Prices as at close on 13 July 2020 Prices delayed by at least 15 minutes | Switch to live prices |
Ex-dividend
Sell:314.50p
Buy:317.00p
Change: 2.50p (0.80%)
Market closed Prices as at close on 13 July 2020 Prices delayed by at least 15 minutes | Switch to live prices |
Ex-dividend
Sell:314.50p
Buy:317.00p
Change: 2.50p (0.80%)
Market closed Prices as at close on 13 July 2020 Prices delayed by at least 15 minutes | Switch to live prices |
Ex-dividend
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

HL comment

See our latest research on this Investment Trust

Objective

The investment objective of the Company is to achieve long-term capital growth from an actively managed portfolio made up primarily of securities issued by companies listed in China and Chinese companies listed elsewhere. The Company may also invest in listed companies with significant interests in China.

Top 10 holdings currently unavailable.

Sector Weight
Consumer Cyclical 33.61%
Communication Services 15.20%
Technology 9.45%
Industrials 8.34%
Consumer Defensive 7.64%
Healthcare 6.74%
Financial Services 6.00%
Basic Materials 4.34%
Energy 1.90%
Real Estate 1.42%
Country Weight
China 116.47%
Hong Kong 11.48%
Taiwan 1.59%
United States 0.47%
United Kingdom 0.00%

Fee Structure

Management fee at the annual rate of 0.9% of NAV p.a. with /- 0.20% variation based on performance relative to the Reference Index. Contract terminable on 6 months notice.

Dividend Policy

To achieve long-term capital growth, the Board does not expect that dividends will constitute a material element of any return to Shareholders. In order to continue to qualify as an investment trust, the Company will be required to distribute sufficient net income so that it retains no more than 15% of the income it derives from shares and securities.

ASSET SPLIT

Total number of holdings: 147.

Trust Manager

Dale Nicholls

Manager Bio

Dale Nicholls joined Fidelity in 1996 as a Research Associate in our Tokyo office. It was during his tenure as an analyst that Dale first began to take an interest in the dynamics of the Chinese market. He regularly visited Chinese companies to get a clear view of the key supply and demand chains of the industries he covered. In 2003, he was promoted to portfolio manager of the Fidelity Pacific Fund and retains management of that portfolio today. In his current role, Dale spends much of his time travelling within China to meet with the management teams and competitors of companies in which he may, or already does, invest, visiting well over 100 companies a year.

Board Of Directors

Nicholas BullChairman, Michael Balfour, Peter Pleydell-Bouverie, Elisabeth Scott, Linda Yueh

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Objective, holding data, trust manager and bio information, dividend policy, asset split and fee structure are provided by Morningstar.

The London Stock Exchange does not disclose whether a trade is a buy or a sell so this data is estimated based on the trade price received and the LSE-quoted mid-price at the point the trade is placed. It should only be considered an indication and not a recommendation.

Trades priced above the mid-price at the time the trade is placed are labelled as a buy; those priced below the mid-price are sells; and those priced close to the mid-price or declared late are labelled 'N/A'.