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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Fidelity China Special Situations Plc | LSE:FCSS | London | Ordinary Share | GB00B62Z3C74 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
3.00 | 1.52% | 201.00 | 200.50 | 201.00 | 202.00 | 198.00 | 202.00 | 1,740,935 | 16:35:29 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Unit Inv Tr, Closed-end Mgmt | 60.91M | 23.29M | 0.0494 | 40.59 | 944.29M |
Date | Subject | Author | Discuss |
---|---|---|---|
09/9/2011 13:07 | Anthony Bolton's China fund forced to buy back shares Fidelity China Special Situations fund buys back 350,000 shares after disappointing performance. Fidelity's star fund manager has been dealt a further blow as the China Special Situations fund is forced to buy back 350,000 shares. In a worrying trend, investors are bailing out of the £682m fund less than 18 months after its launch. Fidelity has bought back the shares in a bid to narrow the discount to net asset value. It has been a rocky start for the fund the share price has dropped by 25% since the start of this year, and the fund posted disappointing first-year results in April. The Hong Kong based fund is currently underperforming the benchmark MSCI China Index by 5%. Investors poured millions into the fund when it was launched in April 2010, as it was expected that manager Anthony Bolton would repeat the success of his previous UK Special Situations fund, where he earned investors an annualised return of 20% for 28 years. But China Special Situations's net asset value dropped by more than 5% in its first year, falling to 93.86p per share on June 17 this year from 99.01 on April 19 2010, while the MSCI China Index remained mostly unchanged. At the time Mr Bolton said that although he was disappointed in the fund's performance he was confident that he could turn it around. "I knew there were high expectations of me coming over here," he said. "I strongly believe in the case for China I put my own money in, Fidelity put their money in. I can see that there is disappointment in the fund and in China. I remain as optimistic as I was at the start about the medium term case for China." He added: "I think anyone investing in equities should give it at least three years but I'd say that about any environment." | masurenguy | |
03/9/2011 23:21 | Anthony Bolton still set for 2013 departure Published Tuesday , August 30, 2011 Mr Bolton initially pledged to run the fund for at least two years when it launched in April 2010, but in November 2010 he committed to a third year at the helm of the fund. The 61-year-old has suggested that the April 2013 date was final. "There are other things I want to do, but I have signed to stay in place until April 2013," he told the Financial Times. "Unless I get run over by a bus, I will be here until then." | strollingmolby | |
03/9/2011 18:24 | Globalisation synchronised and under pressure | muffinhead | |
19/8/2011 09:45 | 61. Younger than me. Younger than Buffett if that matters. | jonwig | |
19/8/2011 09:32 | How old is Bolton now ? | spob | |
19/8/2011 09:20 | spob - 19 Aug'11 - 521: will Bolton shut this thing down ? Why on earth should he do that ? This fund was launched almost at the peak of the market in April last year. Since then the SSEC (Shanghai market) has fallen by around 20% and FCSS is down circa 19% so his current performance is more or less tracking his benchmark index. | masurenguy | |
19/8/2011 09:19 | Bolton was bullish on China and other EMs in last weekend's FT, so no: Had it been an OEIC, maybe. Discount to NAV now 7% - still room to widen. | jonwig | |
19/8/2011 09:07 | will Bolton shut this thing down ? | spob | |
19/8/2011 08:47 | Think you're the lone buyer at the moment Whizzy. How much lower do you think they'll go? | roman2325 | |
19/8/2011 08:05 | Divi paid into my ISA, reinvested it @80.75 | whizzy1 | |
12/8/2011 16:15 | gbb, not sure if your old hat or not, however, check your transfer time, Barclays is 6 days from pay date & the obvious one, review your divi set up ie. Make sure you are not signed up to the ADR. Whizz. | whizzy1 | |
11/8/2011 15:32 | Last order @77.35 unfilled, even though it dipped to 76.10 hmmm.. Just listened to a sound bite from Mr Buffett on Bloomberg - 'be greedy where others are fearful' what a guy. Anyway my faith in AB is lost but I still believe in the overall China story, which is one of only a handful of countries who's economies are still growing 'properly', not long now before China sacks the dollar as it's international trading currency either Re: India. Also I hear that the Russians are offering land to aid China's domestic food program. Seems the African's are at it too, swapping future mineral rights for help with basic infrastructure, step to one side green back. | whizzy1 | |
11/8/2011 07:29 | The dividend they were due to pay at the end of last week hasn't materialised in my account yet. Anyone know what they're upto? | gbb483 | |
11/8/2011 06:36 | Well, this is a long only fund, which is stupid for these market conditions, with no derivatives to protect fund value. Neither any foresight or ability to go into cash, to be able to buy back on the way down. This is an old dynosaur, which died out with the flood. It is time Bolton was sacked or retired and replaced with one of those american whizz kids who take billions out of the market, whatever the market conditions. Who are you kidding by being invested into this? Clearly Bolton is not earning his keep and he is not worth the massive wages and bonuses, he is awarding himself. | a1samu | |
10/8/2011 16:23 | Closed today at an all time low. Looks oversold to me and more a victim of sentiment than fundamentals. However in this climate it could still go lower so I'm still sitting and watching from the sidelines ! | masurenguy | |
10/8/2011 16:16 | Bhoytrader - whats your time frame on China sorting their inflation problems? We talking years or decades? | roman2325 | |
10/8/2011 16:16 | as he is still getting a performance fee given the 'reservoir' effect of last year's outperformance, i would buy an index tracker out of principle. if discount goes out to 20, it may appeal. | edwardt | |
10/8/2011 16:07 | This is getting interesting now. As soon as China gets their inflation problems sorted these should start moving (of course they'll move before then in anticipation). Hard not to back Bolton at such a discount. | bhoytrader | |
10/8/2011 16:03 | it will do tomorrow! | edwardt | |
10/8/2011 14:46 | Whizzy - hasnt traded there fella. How many you trying to pick up? | roman2325 | |
09/8/2011 15:01 | last try heavy order in @77.35 | whizzy1 | |
08/8/2011 10:27 | Masurenguy - 16 Jun'11 - 448: Still watching and looking for a re-entry point. Stiil not tempted yet ! Well the fall here has been quite dramatic - begining to look interesting again but I would like to see some real indications of the broader market bottoming out first before jumping back in again ! | masurenguy |
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