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Alex Wright of the Fidelity Special Values trust
Fidelity's Alex Wright, manager of the £727m Special Values trust, has pointed to a number of stock-specific blow-ups over the past six months and use of derivatives as reasons for the vehicle's underperformance and narrowing premium.
In the six-month period to 28 February, the investment trust reported a net asset value (NAV) total return of -6.1%, compared with the FTSE All-Share index's loss of 3.7%, with the premium on the trust...
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