Fidelity American Special Situations A

The fund may be regarded as Fidelity's US multi-cap fund.

  • 1654.00p Price (Inc)
  • - Price (Acc)
  • 3.50% 0.00% Initial charge
  • 1.50% Annual management charge
  • 1.70% Ongoing charges
  • 0.00% Yield

Prices as at 09 December 2019, fund data last updated 01 April 2002

The fund aims to provide long-term capital growth by investing primarily in the shares of US companies. Manager Angel Agudo looks to invest in companies that are undervalued, either for the reason that they are out of favour or that little value is given to their recovery potential.

Fund summary

Sector North America
Structure OEIC
Launched November, 1980
Size £790m
Yield 0.00%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 3.50%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.70%

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Investment process

The fund aims to achieve long-term capital growth, principally through a focused portfolio invested in companies having their head office or exercising a predominant part of their activity in the US.

Manager changed in December 2012.

Manager research

Average monthly relative returns

  • 14/15 0.30%
  • 15/16 -0.04%
  • 16/17 -0.62%
  • 17/18 -0.47%
  • 18/19 -0.67%

Bestinvest MRI

  • 3 years -0.59%
  • 5 years -0.30%
  • Career -0.17%
  • 3 years 1.50%
  • 5 years 16.40%
  • Career 32.30%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Angel Agudo

Agudo has been the portfolio manager of Fidelity American Special Situations since December 2012 and PM of US equities since November 2011. He was fund manager of Fidelity’s Global Industrials fund from January 2011 to February 2012. He joined Fidelity in 2005 initially as a European analyst. Before this he was in medical equipment sales & design and in IT & operations. Education: MBA (IMD Business School); MSc Mechanical Engineering (ICAI).

Track record

Angel Agudo has 6.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.17%. During the worst period of relative performance (from February 2016 - September 2019) there was a decline of 21% relative to the index. The worst absolute loss has been 10%.

Periods of worst performance

Absolute -10.00% (February 2017 - March 2018)
Relative -21.00% (February 2016 - September 2019)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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Top 10 holdings

Data accurate as at 31 July 2019

5.5201% Oracle Corp
5.4799% Berkshire Hathaway Inc
4.5019% Willis Towers Watson Plc
3.1721% T-Mobile Us Inc
3.1642% Wells Fargo & Co
3.1385% Chevron Corp
2.9981% Fairfax Finl Hldgs Ltd
2.7554% Bank Of New York Mellon Corp Ord
2.3622% Colgate-Palmolive Co
2.2339% Abbott Laboratories
Source: Trustnet

Sector breakdown

Financials 25.00%
Information Technology 19.00%
Health Care 14.00%
Communications 8.00%
Consumer Discretionary 8.00%
Energy 7.00%
Consumer Staples 6.00%
Materials 4.00%
Money Market 3.00%
Industrials 3.00%

Key Investor Information

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