Fidelity Special Values: 22.1% NAV and 26.5% share price annual returns at 31 July 2024

Fidelity

Fidelity Special Values PLC (LON:FSV) has published its monthly factsheet for July 2024.

Portfolio Manager Commentary 

After a brief pause in June, UK equities resumed their upward trajectory in July. The conclusion of the UK elections, resulting in a widely anticipated Labour majority, had little immediate market impact, as investors had already priced in this outcome. Labour’s landslide victory is expected to result in improved political stability. The new government has indicated it would uphold fiscal discipline and work towards improved relations with the European Union, fostering a positive market sentiment. The domestically-biased FTSE 250 and FTSE Small Cap indices posted strong gains in July.  

Despite the improved performance of the UK over recent years, UK equities still look cheap relative to other markets, and reasonable on an absolute basis. We continue to believe that the combination of attractive valuations and the large divergence in performance between different parts of the market create good opportunities for attractive returns from UK stocks on a three-to-five-year view. Their attractive valuations are being recognised by market participants such as overseas corporates and private equity firms who have been amongst the biggest bidders in the UK market. Our holdings continue to trade at a meaningful discount to the FTSE All Share, despite resilient earnings, superior returns on capital and relatively low levels of debt.  

On a rolling 12-month basis, the Trust recorded NAV and share price returns of 22.1% and 26.5% respectively, compared to 13.5% for the index.

Fidelity Special Values PLC (LON:FSV) aims to seek out underappreciated companies primarily listed in the UK and is an actively managed contrarian Investment Trust that thrives on volatility and uncertainty.

Share on:
Find more news, interviews, share price & company profile here for:

Latest Company News

FTSE stocks rise as shutdown uncertainty loses grip

FTSE stocks rose as fading US shutdown risks lifted global sentiment and shifted investor focus back to fundamentals.

Fidelity Special Values recommends 6.84p final dividend (LON:FSV)

Fidelity Special Values (FSV) delivered strong outperformance in 2025, driven by disciplined stock selection and sector positioning, with a 6.9% increase in dividends for shareholders.

Energy and Asia exposure draw fresh attention to UK equities

Global leverage through a UK lens as energy strength and Asian exposure begin to reposition the FTSE 100.

Fidelity Special Values reports 29% share price return over one year beating index (LON:FSV)

Fidelity Special Values has released its September 2025 factsheet, highlighting continued gains in UK equities amid supportive monetary policy and firmer commodity prices.

A turning point for UK equities as the index reaches fresh highs

London’s stock market may be entering a new phase where value, yield and improving earnings come together in one opportunity.

Markets edge forward as investors weigh a softer tone from Washington

London’s markets began the week on a steadier note as softer US trade rhetoric and selective buying across commodities lifted the FTSE 100 into modest positive territory.

Search

Search