FIDELITY SPECIAL VALUES PLC DECEMBER 2018
UK markets fell in December on risk-off sentiment in financial
markets. Lingering concerns about a possible slowdown in the
global economy and Brexit related uncertainties weighed on
The unrelenting negativity that investors are demonstrating towards
UK equities is making the Portfolio Manager feel more and more
positive on their prospects for 2019. One thing he has learnt from
investing in unloved companies is that you should not necessarily
wait for good news to become obvious before investing. By
investing when all the bad news is ‘in the price’ and no good news
is expected at all, you put the odds in your favour. He thinks this is
the situation we are in the UK at the moment.
FIDELITY SPECIAL VALUES PLC NOVEMBER 2018
UK markets declined for the second consecutive month in November, as investors remain nervous amid continued Brexit uncertainty. While the UK and the European Union reached an inprinciple Brexit agreement, it needs to be passed by the UK’s parliament, which appears to be divided on the issue.
FIDELITY SPECIAL VALUES PLC 31 OCTOBER 2018
UK equities declined during the month as stock prices experienced volatility on a global risk-off sentiment. Investors also remain nervous due to uncertainty related to Brexit negotiations, as the deadline nears for the UK to exit the European Union.
FIDELITY SPECIAL VALUES PLC SEPTEMBER 2018
UK equities recovered in September and ended in positive territory,
but overall investor sentiment remained mixed. Hopes for a softer
Brexit suffered a setback as there was no breakthrough in talks
between the UK and EU at the summit meeting in Austria.
Nevertheless, oil & gas stocks gained significantly, which buoyed
overall market returns.
FIDELITY SPECIAL VALUES PLC AUGUST 2018
The UK stock market declined in August, largely due to a fall in
share prices of large-sized companies amid worries over global
trade frictions. Weakness in the mining sector also had a negative
impact on overall market returns.
A strong run in the market over the longer term has left valuations
above historical averages in some areas, and sentiment relatively
elevated. While this need not be a cause for immediate concern,
we believe it constrains the ability of the overall market to continue
making above average returns in the future, and makes it more
vulnerable to a shock. However, a selective approach, focused on
identifying cheap companies with improving fundamentals, should
stand a good chance of outperforming the market over the coming