Fidelity Special Val (LON:FSV) today announced Half-Yearly Results for the six months ended 28 February 2019 (unaudited)
Financial Highlights:
The Board of Fidelity Special Values PLC recommends an interim dividend payment of 2.10 pence per share, an increase of 13.5% over last year’s interim dividend.
The Company recorded a net asset value total return of -6.1% for the six months ended 28 February 2019 and the FTSE All-Share Index (Benchmark Index) returned -3.7%. Both the NAV and share price performance remains well ahead of the FTSE All-Share Index over 3 and 5 years.
The premium narrowed from 1.5% to 0.9%, as a result of the share price total return of -6.7%.
The Company’s shares remain in high demand and continue to trade at a premium.
Portfolio Manager, Alex Wright, believes 2019 could turn into a surprisingly positive year for investors brave enough to buy UK equities before the good news happens.
Overview
The Portfolio Manager, Alex Wright’s, approach is very much in keeping with Fidelity Special Values PLC’s heritage and history – that of an actively managed, contrarian investment trust which the Board believes will be appealing to both existing and potential investors alike. Alex focuses on buying unloved companies with the prospect of positive change, rather than those that are merely cheap. He invests in companies of all sizes, and in doing so hopes to position the Company as the investment of choice for those seeking exposure to UK listed companies but with the benefit of investing 20% of the portfolio in listed companies on overseas exchanges.
Whilst performance in the first half of the reporting period has been more challenging, there has been a strong recovery since the half year end and long term performance remains well ahead of the Benchmark Index over 3 and 5 years. The Company’s shares remain in high demand and continue to trade at a premium.
In addition, we are pleased to report that the Company has won a number of prestigious industry awards.
Andy Irvine, Fidelity Special Val Chairman
