Fidelity China Special Situations - Neutral

INVESTMENT TRUST RESEARCH UPDATE: Morningstar analysts move the Rating to Neutral from Under Review

Szymon Idzikowski 29 August, 2014 | 8:20PM
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We have awarded the Fidelity China Special Situations Investment Trust (FCSS) a Morningstar Analyst Rating™ of Neutral. Previously the fund’s rating was Under Review following the departure of former fund manager Anthony Bolton. We think the transition from Bolton to Dale Nicholls has been smooth. Nicholls is an experienced investor who has built an impressive track record at Fidelity Pacific; however, Fidelity Pacific is a regional fund rather than a country-specific fund, and Nicholls has yet to prove his process is replicable here. This is his first time in charge of a closed-end fund and we are also cognisant of an increased turnover in the Chinese team. Thus, we believe a Neutral rating is appropriate at present.

Find out more about how Morningstar analysts rate funds and investment trusts here.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Fidelity China Special Ord211.50 GBX0.48Rating

About Author

Szymon Idzikowski

Szymon Idzikowski  is a closed-end fund analyst with Morningstar.

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