Fidelity China Special Situations (FCSS) was launched in 2010 and managed by Anthony Bolton for its first four years. Bolton beat his benchmark over his time in charge, largely thanks to a rally in his final year, before handing over to Dale Nicholls in April 2014. Under Nicholls, FCSS has generated an annualised NAV return of 8.4%, well ahead of the rather anaemic 4.1% a year produced by MSCI China. Like many Fidelity trusts, FCSS uses products such as CFDs to gear up its portfolio, typically to around 20% and also employs market hedges to try and dampen volatility. Its portfolio has a bias b...
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China is a market that arguably investors can't afford to ignore although it remains a controversial choice for many people who question some of the country's business practices and its record on human rights. The AIC created a new sector for China / Greater China earlier this year and here we look at three trusts it contains, examining the different approaches they take.
When we decided to look at Chinese trusts for our latest fund profile, we didn't appreciate just how timely that choice would turn out to be. It's certainly been a rollercoaster ride for the sector this week. In short, the C...
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