Morningstar Fund Report  | 05/04/2025Print

Fidelity American Special Situations Fund W-Accumulation

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Fidelity American Special Situations Fund W-Accumulation
Fund28.68.17.110.7-5.6
+/-Cat2.54.11.5-2.8-3.0
+/-B’mrk1.84.10.0-7.8-3.6
 
Category: US Large-Cap Value Equity
Category Benchmark: Morningstar US LM Brd Value...
Key Stats
NAV
04/04/2025		 GBX 2396.00
Day Change -2.76%
Morningstar Category™ US Large-Cap Value Equity
IA (formerly IMA) Sector North America
ISIN GB00B89ST706
Fund Size (Mil)
04/04/2025		 GBP 480.88
Share Class Size (Mil)
04/04/2025		 GBP 436.52
Max Initial Charge -
Ongoing Charge
03/01/2025		  0.87%
Morningstar Research
Analyst Report26/06/2024
Michael Born, Analyst
Morningstar, Inc

While Fidelity American Special Situations' new management team has relevant experience, and its approach is promising, it is as yet unproven on this mandate. The clean W share class continues to earn a Morningstar Analyst Rating of Neutral....

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People23
Parent24
Process23
Performance
Price
Investment Objective: Fidelity American Special Situations Fund W-Accumulation
The Fund aims to increase the value of investor's investment over a period of 5 years or more. The Fund will invest at least 70% in equities (and their related securities) of US companies (those domiciled, incorporated or having significant business in the US and those which are listed in the US). The Investment Manager will choose companies it believes are undervalued and whose growth potential is not fully recognised by the market. It is not restricted in terms of size or industry. The Fund is actively managed without reference to a benchmark.
Returns
Trailing Returns (GBP)04/04/2025
YTD-10.46
3 Years Annualised1.70
5 Years Annualised13.68
10 Years Annualised8.30
12 Month Yield 0.53
Management
Manager Name
Start Date
Rosanna Burcheri
01/09/2021
Ashish Bhardwaj
01/09/2021
Inception Date
15/10/2012

Category Benchmark
Fund BenchmarkMorningstar Benchmark
S&P 500 NTR (15%) USDMorningstar US LM Brd Value NR USD
Portfolio Profile for  Fidelity American Special Situations Fund W-Accumulation28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock97.930.0097.93
Bond0.040.000.04
Property0.000.000.00
Cash2.030.002.03
Other0.000.000.00
Top 5 Regions%
United States95.82
Eurozone3.19
Canada0.99
Latin America0.00
United Kingdom0.00
Top 5 Sectors%
Financial Services19.24
Industrials14.72
Healthcare13.56
Communication Services10.33
Technology9.25
Top 5 HoldingsSector%
Berkshire Hathaway Inc Class BFinancial ServicesFinancial Services4.02
Wells Fargo & CoFinancial ServicesFinancial Services3.90
Alphabet Inc Class ACommunication ServicesCommunication Services3.30
Elevance Health IncHealthcareHealthcare3.02
Aon PLC Class AFinancial ServicesFinancial Services2.85
Increase Decrease New since last portfolio
Fidelity American Special Situations Fund W-Accumulation
Growth Of 1000 (GBP) 31/03/2025
Fund:  Fidelity American Special Situations Fund W-Accumulation
Category:  US Large-Cap Value Equity
Category Index:  Morningstar US LM Brd Value NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return0.278.111.5028.598.157.0910.72-5.64
+/- Category3.92-10.940.892.474.131.49-2.78-2.96
+/- Category Index2.81-14.172.331.784.10-0.01-7.80-3.57
% Rank in Category1597393314378291
Trailing Returns (GBP)04/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-2.76   0.392.91
1 Week-7.38   -3.29-1.79
1 Month-10.06   -1.93-0.66
3 Months-11.09   -4.94-2.27
6 Months-5.18   -1.97-1.59
YTD-10.46   -5.27-2.83
1 Year-8.23   -6.64-8.39
3 Years Annualised1.70   -2.61-4.31
5 Years Annualised13.68   -0.69-1.45
10 Years Annualised8.30   -0.79-2.32
 
Category: US Large-Cap Value Equity
Category Index: Morningstar US LM Brd Value NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-5.64---
20248.56-1.79-2.997.04
2023-4.872.425.414.27
202210.30-5.564.14-0.31
202112.263.573.297.08
2020-18.3913.79-1.7511.24
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageAverage2 star
5-YearAverageAverage3 star
10-YearAverageAverage3 star
Overall*AverageAverage3 star
 
Category :  US Large-Cap Value EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev13.85 %
3-Yr Mean Return4.08 %
 
3-Yr Sharpe Ratio0.00
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar US LM Brd Value NR USD  Morningstar US Mid NR USD
3-Yr Beta0.900.74
3-Yr Alpha-4.58-2.10
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 50114-
Market Capitalisation% of Equity
Giant7.47
Large41.33
Medium41.66
Small9.53
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings17.881.13
Price/Book2.511.02
Price/Sales1.160.82
Price/Cash Flow12.231.12
Dividend-Yield Factor1.860.88
 
Long-Term Projected Earnings Growth9.280.90
Historical Earnings Growth2.210.77
Sales Growth5.790.83
Cash-Flow Growth1.23-0.98
Book-Value Growth8.571.22
 
Category: US Large-Cap Value Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock97.930.0097.93
Bond0.040.000.04
Property0.000.000.00
Cash2.030.002.03
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States95.821.01
Canada0.991.46
Latin America0.000.00
United Kingdom0.000.00
Eurozone3.192.18
Europe - ex Euro0.000.00
Europe - Emerging0.00-
Africa0.00-
Middle East0.000.00
Japan0.000.00
Australasia0.000.00
Asia - Developed0.000.00
Asia - Emerging0.000.00
 
Category: US Large-Cap Value Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials4.941.43
Consumer CyclicalConsumer Cyclical3.070.40
Financial ServicesFinancial Services19.240.86
Real EstateReal Estate2.701.45
Consumer DefensiveConsumer Defensive9.151.47
HealthcareHealthcare13.560.82
UtilitiesUtilities6.312.13
Communication ServicesCommunication Services10.331.57
EnergyEnergy6.731.17
IndustrialsIndustrials14.721.30
TechnologyTechnology9.250.60
 
Category: US Large-Cap Value Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings63
Total Number of Bond Holdings2
Assets in Top 10 Holdings29.77
NameSectorCountry% of Assets
Berkshire Hathaway Inc Class B103United States4.02
Wells Fargo & Co103United States3.90
Alphabet Inc Class A308United States3.30
Elevance Health Inc206United States3.02
Aon PLC Class A103United States2.85
McKesson Corp206United States2.73
Union Pacific Corp310United States2.58
The Walt Disney Co308United States2.50
Labcorp Holdings Inc206United States2.46
PNC Financial Services Group Inc103United States2.41
 
Increase Decrease New since last portfolio
Category: US Large-Cap Value Equity
 
Management
Name of CompanyFIL Investment Services (UK) Ltd
Phone(+44) 08003686868
Websitehttps://professionals.fidelity.co.uk/about-fidelity/contact-us
AddressBeech Gate, Millfield Lane, Lower Kingswood, Tadworth
 Surrey   KT20 6RP
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date15/10/2012
Fund Advisor(s)
FIL Investment Services (UK) Ltd
Fund ManagerRosanna Burcheri
Manager Start Date01/09/2021
Education
Bocconi University, B.A.
 
Biography
Rosanna Burcheri is a seasoned investor. Rosanna graduated in economics from Bocconi University in 1996. She started her career as junior fund manager at Paribas Asset Management, before joining M&G as a fund manager. In 2004, Rosanna was appointed Senior European Portfolio Manager at Shell Pension Management Service. She later became partner and pan-European fund manager for FrontPoint Management, before joining Artemis in 2011. Rosanna moved to Fidelity to manage US value funds in 2021.
Fund ManagerAshish Bhardwaj
Manager Start Date01/09/2021
 
Biography
Ashish is a long-standing member of the investment team. He started his career with us in 2009 as an analyst in our Asian equity research team, based in Mumbai, before relocating to London in 2012 to join our US equity research team. He initially covered Indian autos, construction, materials and infrastructure stocks, before moving to London to cover US aerospace & defence, transportation, logistics and industrial services. Throughout his six years as an analyst, Ashish has made some great stock recommendations and proved himself as a talented investor.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.75%
Ongoing Charge0.87%
Purchase Details
Minimum Investments
Initial1000  GBP
Additional250  GBP
Savings50  GBP
Tax Free Savings Schemes
ISAsYes