Page 23 - DIY Investor Magazine | Issue 32

We see potential in the overlooked and underloved
FIDELITY SPECIAL VALUES PLC
This investment trust seeks out good-quality but unpopular companies, whose long-term growth potential has been overlooked by the market.
Portfolio manager Alex Wright’s contrarian approach to the trust thrives on volatile and uncertain markets, when there’s more chance of stocks being misjudged and undervalued. Investing mainly in the UK, and supported by Fidelity’s extensive research team, Alex looks to invest in out-of-favour companies, having spotted a potential trigger for positive change that he believes has been missed by others.
It’s a consistent and disciplined approach that has worked well; the trust has outperformed the FTSE All Share Index over the
long term both since Alex took over in September 2012 and from launch 27 years ago.
The value of investments can go down as well as up and you may not get back the amount you invested. Overseas investments are subject to currency fluctuations. The shares in the investment trust are listed on the London Stock Exchange and their price
is affected by supply and demand. The Trust can use financial derivative instruments for investment purposes, which may expose it to a higher degree of risk and can cause investments to experience larger than average price fluctuations.
The investment trust can gain additional exposure to the market, known as gearing, potentially increasing volatility. The trust invests more heavily than others in smaller companies, which can carry a higher risk because their share prices may be more volatile than those of larger companies and the securities are often less liquid.
To find out more, visit fidelity.co.uk/specialvalues, scan the QR code or speak to your adviser.
PAST PERFORMANCE
Nov 16– Nov 17– Nov 18– Nov 19– Nov 20– Nov 17 Nov 18 Nov 19 Nov 20 Nov 21
Net Asset Value 17.2% -3.8% 10.5% -11.6% 30.3%
Share Price 15.3% 4.4% 10.4% -10.9% 29.2%
FTSE All Share Total Return Index
13.4% -1.5% 11.0% -10.3% 17.4%
Past performance is not a reliable indicator of future returns.
Source: Morningstar as at 30.11.2021, bid-bid, net income reinvested.
©2021 Morningstar Inc. All rights reserved. The FTSE All Share Total Return Index is a comparative index of the investment trust.
The latest annual reports and factsheets can be obtained from our website at www.fidelity.co.uk/its or by calling 0800 41 41 10. The full prospectus may also be obtained from Fidelity.
The Alternative Investment Fund Manager (AIFM) of Fidelity Investment Trusts is FIL Investment Services (UK) Limited. Issued by Financial Administration Services Limited, authorised and regulated by the Financial Conduct Authority. Fidelity, Fidelity International, the Fidelity International logo and F symbol are trademarks of FIL Limited. UKM1221/370087/SSO/0322