Fidelity China Special Situations (FCSS) was launched in April 2010 aiming to generate long-term capital growth from investing in Chinese companies or companies that generate the majority of their revenues in China. Manager Dale Nicholls invests for the long term, seeking companies with long-term growth potential that are trading at reasonable valuations. FCSS’s NAV and share price absolute total returns have been very strong over the last 12 months, and the trust has meaningfully outperformed the index over one, three and five years and since the fund’s inception. FCSS has also outperformed the majority of its open- and closed-ended peers over one, three and five years.

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