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Fidelity China Special Situations PLC on Tuesday said core holdings in the consumer and industrials sectors were the main contributors to first half performance while limited e-commerce exposure was also a benefit. The Surrey, England-based investment trust, which focuses on long-term growth opportunities in China, said net asset value per share grew 30% to 358.53 pence at September 30 from 252.18p a year prior and from 285.71p at the end of March. Fidelity China Special Situations reported an ordinary share price total return of 28.7% and net asset value return of 29.7% in the six months to September 30, outstripping its benchmark index, the MSCI China Index, which produced a total return of 18.0% over the same time frame. Core holdings in the consumer and industrials sectors, many aligning with advanced manufacturing and innovation themes, were the main contributors to performance, it said. Limited exposure to the electric vehicle brands and e-commerce sectors, where ‘fierce price competition has pressured profit margins and share prices’ was also a benefit, the investment trust added. ‘China remains a fertile ground for structural growth opportunities, particularly in sectors benefiting from rapid technological innovation, such as automation, electric vehicles, AI and advanced manufacturing,’ the company said. Fidelity China Special Situations believes the backdrop for Chinese equities appears ‘increasingly constructive’. No dividend was declared for the six months period, unchanged from a year ago. Shares in the company were down 0.7% at 308.73 pence each in London on Tuesday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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