Fidelity Special Values builds resilience, October Summary (LON:FSV)

Fidelity Special Values PLC (LON:FSV) monthly factsheet for October 2023.

Portfolio Manager Commentary

On a rolling 12-month basis, the Trust recorded NAV and share price returns of 3.2% and 0.5% respectively, compared to 5.9% for the index.

UK equities, along with other major markets, fell sharply in October due to prevailing macroeconomic uncertainties. Sentiment also took a dip as earnings announcements highlighted the impact of the more challenging economic backdrop on corporate performance, with stocks that missed expectations punished more than those that outperformed expectations were rewarded. Market fragility persisted as the annual UK inflation rate held steady at 6.7% in September, slightly higher than market expectations of a modest decline to 6.6%.

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