Evidence and analysis
- Share-class currency
- GBP
- ISIN
- LU2219351520
- Hedging status
- Not inferred from currency; consult the exact share-class factsheet.
The fund's base currency, shown in the prospectus description below, can differ from this share class's dealing currency. All benchmark comparisons above use the stated share-class currency.
Benchmark: FTSE All Share TR GBP
| Period | Fund | Index | Gap (pp) |
|---|---|---|---|
| 1 year | 18.3% | 16.8% | +1.5 |
| 1-year: Outperforming | |||
| 3 years | 65.6% | 53.9% | +11.7 |
| 3-year: Outperforming | |||
Gap = fund minus index in percentage points. Returns are cumulative, with dividends reinvested, in the share class currency. Includes ongoing charges; excludes entry/exit fees. Based on Fidelity's rounded comparison table. A negative gap indicates underperformance for that period.
Latest Official Fund Data
| Metric | Current official value |
|---|---|
| NAV (GBP) | 1.8100 |
| NAV date | 2026-10-23 |
| Daily NAV change | 0.0040 (0.2215%) |
| 1-year performance | 18.3215% |
| 3-year performance | 65.6004% |
| Performance date | 2026-09-30 |
| Fund type | Equity Fund |
| ISIN | LU2219351520 |
Source: Fidelity Hong Kong mutual-fund directory, retrieved 2026-10-26. Observation dates are shown separately; performance figures are reproduced from the official directory in the share class currency. Historical risk and return analysis below has not been recalculated by this directory refresh.
Portfolio Manager
Alex Wright, Jonathan Winton
The Fidelity Funds - UK Special Situations Fund A-GBP page has been refreshed from Fidelity Funds’ April 2026 Hong Kong Extract Prospectus. The PDF fund description is for UK Special Situations Fund.
Investment Objective
The fund aims to achieve capital growth over the long term.
Investment Policy
The fund invests at least 70% of its assets, in equities of companies that are listed, headquartered, or do most of their business in the UK. The fund seeks to invest in special situations equities (equities that are undervalued and whose recovery potential is not recogni s ed by the market). The fund will have a mixture of investments in larger, medium, and smaller sized companies. The fund may also invest in money market instruments on an ancillary basis.
Investment Process
In actively managing the fund, the Investment Manager considers growth and valuation metrics, company financials, return on capital, cash flows and other financial measures, as well as company management, industry, economic conditions, and other factors. The Investment Manager will focus on companies it believes to be undervalued and whose recovery potential (i.e. potential recovery of share prices reflecting improving business fundamentals) is not recognised by the market (i.e. special situations). The I n vestment M anager takes into account Sustainability Risks in its investment process. For more information, see Sustainable Investing and ESG Integration.
Derivatives and Techniques
The fund may use derivatives for hedging, efficient portfolio management and investment purposes. In addition to core derivatives (see How the Funds Use Instruments and Techniques), the fund intends to use TRS. TRS (including CFD) usage Expected 40%; maximum 100%. Securities lending Expected 15%; maximum 30%. Repos/reverse repos Expected 0%; maximum 30%.
Benchmark
FTSE All Share Index. Used for: performance comparison only.
Base Currency
GBP
Main Risks
- Concentration
- Counterparty and collateral
- Currency
- Derivatives
- Equities
- Hedging
- Investment fund
- Liquidity
- Market
- Operational
- Small and mid cap
- equity
Risk Management Method
Commitment.
Source
- Fidelity Funds, April 2026 Hong Kong Extract Prospectus:
data/fidelity/pr.ff.HK-en.HK.pdf
Sector Allocation
| Sector | Weight |
|---|---|
| Energy | 17.6% |
| Communication Services | 14.4% |
| Financial Services | 11.6% |
| Technology | 10.0% |
| Health Care | 9.7% |
| Consumer Defensive | 9.3% |
| Basic Materials | 7.8% |
| Real Estate | 5.5% |
| Consumer Cyclical | 5.2% |
| Industrials | 5.1% |