Fidelity China Special Situations PLC - China-focused investment trust - Says net asset value per share at September 30 is up 49% year-on-year to 351.76 pence from 236.10p. Posts a pretax profit for the half-year ended September 30, of 621.5 million, swinging from a loss of GBP82.5 million. Says among the greatest portfolio beneficiaries are consumer-related stocks. Does not pay interim dividend. Says focus continues to be on the underlying value of companies assessed by their growth prospects, underlying competitive strengths and the quality of management teams which has led to a bias towards smaller companies. Says there remains considerable opportunity in the supply of consumer goods to Chinese households.
Current stock price: 381.50 pence
Year-to-date change: up 66%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Fidelity China Special Situations PLC (FCSS)