Fidelity Special Values PLC — Earnings Release 2019

Nov 28, 2019

National Storage Mechanism | Additional information

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RNS Number : 0167V

Fidelity Special Values PLC

28 November 2019

London, UK, 28 November 2019

Edison issues review on Fidelity Special Values (FSV)

Fidelity Special Values (FSV), launched in November 1994, is celebrating its 25-year anniversary. Manager Alex Wright has a contrarian investment style, aiming to generate long-term capital growth from a diversified portfolio of primarily UK equities (up to 20% of the fund may be held in companies listed overseas). The manager seeks undervalued companies with the potential for positive change. He says the UK market is relatively attractively valued versus global stocks and, in an environment of softening company fundamentals, he is finding opportunities in more defensive businesses. FSV has a strong investment performance track record; its NAV total returns are ahead of the FTSE All-Share index over the last three, five and 10 years. Although the last 12 months have proved more challenging, Wright has confidence in the trust's future prospects.

FSV's current 2.3% premium to cum-income NAV compares with an average premium of 1.0% over the last 12 months and average discounts of 1.6%, 3.3% and 6.2% over the last three, five and 10 years. The board actively issues shares in order to manage the premium. FSV's regular annual dividend has increased in each of the last 10 consecutive years; it currently offers a 2.1% yield. 

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For more information please contact Edison:

Mel Jenner, +44 (0)20 3077 5720

Sarah Godfrey, +44 (0)20 3681 2519

investmenttrusts@edisongroup.com

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