Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a634530

Life after Shah: AAA-rated Wright adds Brewins to Fidelity Special Values

by Sarah Miloudi on Nov 15, 2012 at 07:01

This view is in stark contrast with Axa Framlington's Nigel Thomas, who has been closely monitoring the prospects for a bid after Lloyds' holding was valued at around £1 billion.

Thomas told Wealth Manager earlier this month that he would add to his SJP position in the event of a deal, and currently holds 7.5 million shares in St James's Place, accounting for 0.89% of his Citywire Selection UK Select Opportunities fund.

Performance

After roughly two months at the helm, it is too early to judge the impact of Wright's arrival on Fidelity Special Values, however the manager said he and the board would be looking for its 11% discount to narrow and the trust's assets to grow going forward.

Wright said he would also look to take advantage of gearing, a key benefit of the closed-end structure.

If timed well, gearing can add to an investment trust's returns, which before the hand over from Shah to Wright stood at 36.8%, looking at the three years to the end of April, versus 51.6% by its comparator index.

Gearing on Fidelity Special Values is currently 105%.

Sign in / register to view full article on one page

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Long time coming: is the recovery here to stay?


Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

The Citywire guide to investment trusts

Investment trusts have proved to be a highly effective way to invest in the market. Citywire has interviewed the experts to find out more.

More about this:

Look up the funds

  • Fidelity UK Smaller Companies A Acc
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • AXA Framlington UK Select Opportunities R Inc
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Look up the shares

  • Brewin Dolphin Holdings PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Fidelity Special Values PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Rathbone Brothers PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • St. James's Place PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Lloyds Banking Group PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Look up the fund managers

  • Alex Wright
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Sanjeev Shah
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Nigel Thomas
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

Archive

On the road

Click here to find out more from the Audience Development team.

Read more...

SJP soft-closes Asante and Wood funds

by Robert St George on Apr 23, 2014 at 15:28

Sorry, this link is not
quite ready yet