Fidelity's Wright: M&A has shrunk options in wealth manager space

clock • 2 min read

Fidelity's Alex Wright has boosted exposure to banks as consolidation in the wealth management sector sees opportunities to invest there dry up.

Wright (pictured), who runs the £2.8bn Fidelity Special Situations fund, the £517m Special Values trust, and the £260m UK Smaller Companies fund, said he has turned to banks including HSBC and Lloyds to increase his financials exposure as there are only two wealth managers left which he views as investment options - Brewin Dolphin and Rathbones. The manager currently holds 4.3% of Special Values in wealth manager Brewin Dolphin and 2.6% of UK Smaller Companies, which was recently reopened for investment after two years of soft-closure. Brewin is his third-largest holding in both funds. ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Equities

Partner Insight: Why investors shouldn't try to second-guess election results

Partner Insight: Why investors shouldn't try to second-guess election results

Investment Week
clock 28 October 2024 • 1 min read
Partner Insight: 25 years of steady resilient returns in turbulent times - Best Styles

Partner Insight: 25 years of steady resilient returns in turbulent times - Best Styles

Investment Week
clock 25 October 2024 • 1 min read
Van Lanschot Kempen: Even the largest stocks can eventually become sensitive to gravity

Van Lanschot Kempen: Even the largest stocks can eventually become sensitive to gravity

'Today's winners are not etched in stone'

Joris Franssen and Reineke Davidsz
clock 08 October 2024 • 3 min read
Trustpilot