Bestinvest says
This fund has experienced a number of fund manager changes in recent years and latest manager, James Griffin, does not quality for a Bestinvest rating due to a lack of identifiable track record. Those investors looking for a fund with a bias to UK large cap stocks may wish to consider JO Hambro CM UK Opportunities, which is rated five stars by Bestinvest.
This is a conservatively managed UK equity fund, typically holding 60-80% in FTSE 100 companies. Although the bias is to large companies, the manager is not restricted in the choice of company either by size or industry.
The manager makes great use of the in house analyst resource within Fidelity and when searching for industry winners he tends to focus upon stocks that offer growth, strong cash flow characteristics, combined with good management. The manager believes that typically, industry winners will continue to stay ahead of the pack, and that this is not always recognised in the stockmarket. Therefore, such companies often represent good value as often they do not trade on significant premiums within their industry peer group.