Fidelity China Special Situations PLC

The UK’s only £1 billion China investment trust

Dale Nicholls"Investors have clearly been spooked by the recent correction in the markets, but I think this is overdone and is creating good buying opportunities. The fundamental case for China and the investment trust remains intact: growth remains strong in a global context, especially in the area of consumption, which is supported by long-term trends such as urbanisation. The path for reform is set and this will continue to create opportunities, especially for innovative private companies. Stock picking will be key.

Recent events have shown that the rapid growth in margin-led investing clearly got ahead of itself in the sharp market run and we are now feeling the effects as it is unwound. This will likely take some time and markets will remain volatile. Policy response on the whole has been disappointing and in many ways runs contrary to the spirit of broader reforms and general market liberalisation. Also, that such a large portion of the market can be suspended from trading creates more market disruption and forces investors to question the efficiency of those markets.

There remains an abundance of prospective investment opportunities. With the run up in the market I significantly reduced net exposure in the trust. This has started to increase again. China is an immature market and there are many issues that need to be addressed, but it also offers great opportunities for stock pickers given the strong structural growth opportunities and valuation anomalies in the market.


Dale Nicholls, Manager of Fidelity China Special Situations PLC


Past performance is not a guide to what might happen in the future.

For price and performance information click here

Latest news & videos

Latest research

See more videos on our Video Hub

Board of Directors

The Board of Directors is headed by Chairman, John Owen CMG MBE DL.

Download the PDF document for more information.

Before making an investment you should read the Key Features of Fidelity Investment Trusts document that relates to your fund choice(s). This document also includes the Fidelity Client Terms. These documents give you all the information you need to know about investing with Fidelity, including details of the objectives, investment policy, risks, charges and past performance associated with the fund. You can also call us on 0800 41 41 61 to request a printed copy. The Full Prospectus is available on request from Fidelity. All documents are available in English. 

Registration information

Incorporated in England and Wales with company number 3183919.

Registered office: FIL Investments International, Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey KT20 6RP.

Fidelity China Special Situations PLC is a member of the Association of Investment Companies pop-up.

For all the latest and historical announcements click here to view them on the London Stock Exchange pop-up.


Please note that Fidelity does not take responsibility for the content of external links.

Here to help

If you have any questions, please call our freephone UK-based team.

Here to help

0800 41 41 61

Monday to Friday, 8am to 6pm
Saturday 9am to 6pm.

Important information

The value of your investments may go down as well as up and you may not get back what you invest. Fidelity Personal Investing can give you information and guidance on products and services, but cannot give advice based on personal circumstances. If you're unsure of the suitability of an investment, please speak to an authorised financial adviser. Please note for funds which invest in overseas markets, changes in currency exchange rates may affect the value of your investment. Investments in small and emerging markets can be more volatile than other overseas markets. Some funds invest more heavily than others in smaller companies, which carry a higher risk because their share prices may be more volatile than those of larger companies. Investors should note that the views expressed may no longer be current and may have already been acted upon by Fidelity.