Dale Nicholls, manager of Fidelity's £1bn China Special Situations investment trust, has highlighted three private companies he hopes can replicate the success of the vehicle's investment in e-commerce giant Alibaba.
When the trust first turned to the unlisted space under the management of industry veteran Anthony Bolton, it took a chance on two names including Alibaba, taking a holding representing just 1% of the portfolio. Nine months after Nicholls took over the trust in January 2014, the e-commerce business completed a record-breaking $25bn IPO, benefitting the fund. Nicholls (pictured) is keen to replicate this success story with three names already dominating their respective industries, helped by the fact the fund's investment cap on exposure to unlisted companies was raised recently. D...
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