Fidelity Fofs cut stake in Special Situations fund

Fidelity's multi-manager team appears to be selling down positions in Anthony Bolton's Special Situ...

Fidelity's multi-manager team appears to be selling down positions in Anthony Bolton's Special Situations fund, ahead of the vote to split the £5.8bn fund into two. At the end of September 2005, Special Situations was one of the largest positions in percentage terms in Fidelity's MultiManager Growth portfolio. With a 7.7% holding, equating to an £8m stake in the portfolio, the fund was the fourth largest holding, behind JO Capital UK Growth, Schroder UK Alpha Plus and Artemis European Growth. The following month this position was reduced to 5.2%, or some £6m, and was ranked tenth in the ...