By GIDEON MARGO 21/09/2006
Tom Dobell, manager of one of the oldest “Recovery” funds in the sector, seeks to identify stocks whose share prices have fallen well below their true worth, rendering them good value. He is prepared to take a contrarian view and consider areas that are out of favour among investors. These can include restructuring stories, “special situations” and companies with hidden value unrecognised by the market. The fund manager takes a flexible and pragmatic approach to stocks and aims to have a holding period of between three and five years.
This fund represents a possible alternative to those investors wishing to switch out of the Fidelity Special Situations Fund and has been awarded three stars.