reports
- James Carthew
Where to find absolute value?
The UK market had a strong run during 2017 and Fidelity Special Values’ (FSV’s) manager, Alex Wright, is increasingly asked whether he can still find absolute value in the market. His answer is a cautious ‘yes’. Alex acknowledges that valuations have increased but says this is countered by focusing on recovery stories, so that FSV’s approach does not rely on rising markets to generate returns. Furthermore, he highlights that while value investors need to be selective in the current environment, ...
- James Carthew
Where to find absolute value?
The UK market had a strong run of performance during 2017 and Fidelity Special Values’ (FSV’s) manager, Alex Wright, is increasingly asked whether he can still find absolute value in the market. His answer is a cautious ‘yes’. Alex acknowledges that valuations have increased but says this is countered by focusing on recovery stories, so that FSV’s approach does not rely on rising markets to generate returns. Furthermore, he highlights that while value investors need to be selective in the curren...
- Matthew Read
Tilting away from the cyclicals
As discussed in QuotedData’s previous notes, Fidelity Special Values (FSV) is a fund that thrives on volatility and uncertainty. It seeks to exploit mispricing created by swings in investor sentiment – moving into ‘unloved’ stocks when they are cheap and then selling them once they have recovered. The manager took advantage of depressed markets earlier this year to add to more cyclical areas, which was bolstered by expanding gearing in the trust. This has served FSV well as the market has reboun...
- Matthew Read
Tilting away from the cyclicals
”‹As discussed in our previous notes, Fidelity Special Values (FSV) is a fund that thrives on volatility and uncertainty. It seeks to exploit mis-pricing created by swings in investor sentiment – moving into ‘unloved’ stocks when they are cheap and then selling them once they have recovered. The manager took advantage of depressed markets earlier this year to add to more cyclical areas, which was bolstered by expanding gearing in the trust. This has served FSV well as the market has rebounded po...
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