Shah to Step Down from Fidelity Special Values

Morningstar analysts have placed FSV under review following the news that Alex Wright will be taking over from Sanjeev Shah in September

Jackie Beard, FCSI, 9 July, 2012 | 12:06PM
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The board of Fidelity Special Values (FSV) has announced a change of manager at the fund.  Effective 1st September, Sanjeev Shah will be stepping down and Alex Wright will be taking up the reins. Wright has been with Fidelity for 11 years and, for the last four, he has been running a UK small-cap fund. He is also Shah's assistant on the open-ended Fidelity Special Situations (rated Silver). We have placed the fund’s rating Under Review and will be meeting with Wright shortly after he takes over, to assess the impact on the fund for existing shareholders. We understand the fund will have more of a focus on small- and mid-cap stocks under Wright’s management and the heavy bet on banking will most likely be reduced as a result.

 

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