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Fidelity Special Values H1 returns 'significantly' top benchmark as value stocks shine

By BFN News | 07:38 AM | Friday 23 April, 2021

Investment fund Fidelity Special Values reported a rise in total returns that was 'significantly' ahead of its benchmark in the first half of the year thanks to a jump in value stocks. For six month period to 28 February 2021, net asset value total return of 24.3% and a share price total return of 36.5%, compared to a total return of 12.0% for the FTSE All-Share Index, the company's benchmark index. The returns were driven by strong gains in holdings in Halfords, Aviva, Mitie, AIB and M&C Saatchi, the company said. The company proposed an interim dividend of 2.17 pence per share, an increase of 3.3% from last year's interim dividend. 'An environment with higher inflation and rising bond yields has tended to favour value stocks,' the company said. 'If discount rates rise, then some of the very highly priced stocks/sectors could de-rate, which we have started to see, whereas value stocks moderate valuations should benefit from a normalisation of economic and market conditions,' it added. Story provided by

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