Fidelity Share News (FSV)

LONDON (Alliance News) - Fidelity Special Values PLC on Friday said that for the third successive financial year its net asset value increased by more than the benchmark index.

NAV per share was up 7.3% in the year to August 31 and its share price by 12.4%, while the benchmark was down 2.3%.

For the three years, performance on a total return basis of the NAV was 72.1%, and the share price was 100.2% against the benchmark's 28.1%.

"As ever, my focus is on identifying out-of-favour stocks with potential for positive change and limited downside risk. This bottom-up strategy is my preferred approach to meeting the company's investment objective of providing long term capital growth for investors," Alex Wright, portfolio manager, said in a statement.

Shares in Fidelity Special Values were up 0.1% at 199.24 pence on Friday afternoon.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

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