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Fidelity Special Values PLC - "contrarian" investment trust that aims for capital growth by investing in "out-of-favour" companies primarily listed in the UK - Net asset value per share at August 31 falls 6.6% to 284.67 pence from 304.79p a year ago. NAV total return for the year that ended August 31 turns to negative 4.4%, from positive 56% a year prior and underperforming against the FTSE All-Share Index, which returned positive 1.0%. The company raises its total dividend by 16% to 7.75 pence per share from 6.67p a year ago.
Looking ahead, Fidelity Special touts its "contrarian, value-style approach" and a "well-diversified portfolio". However, it cautions: "There will doubtless be further periods of heightened volatility in the share price and shareholders would do well to take a long term view of the investment horizon. The investment strategy of the company remains resolute."
Current stock price: 268.50 pence, up 0.9% on Friday
12-month change: down 12%
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