By Josh White
Date: Friday 24 Nov 2017
LONDON (ShareCast) - (ShareCast News) - Fidelity China Special Situations updated the market on its first half performance on Friday, reporting that its net asset value per share total return was 13.1% in the six months to 30 September.
The FTSE 250 company's share price total return for the period was 12.2%.
Over a three-year period, the net asset value total return was 95.3%, and the share price return was 91.2%, both significantly outperforming the company's benchmark index - the MSCI China Index - which had a return of +72.4%.
Portfolio manager Dale Nicholls said he believed there was still good value relative to the long-term growth potential in the Chinese market.
"We are currently in the midst of a clear cyclical upturn in the economy," he explained.
"Supply-side reform in areas like steel and cement has helped to lift pricing across a range of commodities."
On the policy front, Nicholls said there was increasing rhetoric focussed on the risks associated with the build-up of credit the company had seen in the economy.
"This focus could become stronger post recent leadership changes - all positive in addressing our major concern for the long-term health of the economy.
"The environment remains positive for ongoing growth in consumption as part of the natural expansion of the middle-class, a key investment theme for the portfolio.
"While market sentiment has clearly turned more positive to the risk-reward balance around the opportunities in the Chinese market, we still find good value relative to the long-term growth potential."
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 242.50p |
Change Today | -0.50p |
% Change | -0.21 % |
52 Week High | 244.00 |
52 Week Low | 182.60 |
Volume | 640,368 |
Shares Issued | 523.45m |
Market Cap | £1,269.37m |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
Latest | Previous | |
---|---|---|
Final | Final | |
Ex-Div | 15-Jun-23 | 16-Jun-22 |
Paid | 27-Jul-23 | 27-Jul-22 |
Amount | 6.25p | 5.50p |
Time | Volume / Share Price |
16:35 | 18,233 @ 242.50p |
16:35 | 1 @ 242.50p |
16:35 | 827 @ 242.50p |
16:35 | 686 @ 242.50p |
16:35 | 245 @ 242.50p |
You are here: research