Edison issues review on Fidelity Special Values

RNS Number : 4422O
Fidelity Special Values PLC
10 February 2021
 

 

London, UK, 10 February 2021

 

Edison issues review on Fidelity Special Values (FSV)

Fidelity Special Values (FSV) offers a value-based, contrarian investment approach aimed at achieving long-term capital growth through investment in overlooked and undervalued UK equities. Value investing has been out of favour for some years and the underperformance of UK value stocks worsened during last year's market sell-off. However, this created many opportunities which FSV's managers Alex Wright and Jonathan Winton sought to exploit and, with value stocks now returning to favour, their efforts are beginning to pay off. After a period of disappointing performance, particularly in Q120, FSV's returns have recently improved. The trust returned 24.7% in NAV terms in the three months to end January 2021, outperforming the UK market, which returned 16.5%. Despite the recent improvement in UK value stocks, they still offer value and there is scope for further upside if the improving economic outlook supports continued rotation into value stocks. FSV's managers believe the trust is well-positioned to take full advantage of this trend.

 

After trading mostly at a discount to NAV since the Q120 market sell-off, FSV's share price returned to a premium in late 2020, supported by improved performance and a recently announced fee reduction. It is presently trading at a premium of 2.2%. Based on its current share price, FSV's FY20 yield is 2.4%. 


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www.edisongroup.com

About Edison: E dison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.

Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney.

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Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

Joanne Collins, +44 (0)20 3077 5700, investmenttrusts@edisongroup.com

Mel Jenner, +44 (0)20 3077 5720, investmenttrusts@edisongroup.com

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