Fidelity China Special Sits trust seeks to increase exposure to unlisted investments

Increase of 5%

The Fidelity China Special Situations trust has proposed changes to its investment policy in order to allow a higher number of unlisted investments.

The board is seeking shareholder approval to be able to invest up to 10% of gross assets in unlisted companies in China and Hong Kong. This would be an increase of 5% for the trust, which has been managed by Dale Nicholls (pictured) since April 2014. It currently has 2% of its assets in unlisted investments and has previously invested in companies such as tech giant Alibaba prior to them listing on the market. The board said the need for an increase reflected the growing number of companies which were choosing to raise capital in private markets. John Owen, chairman of Fidelity ...