Fidelity China Special Situations is set to boost its permitted exposure to unlisted companies from 10% of NAV plus gearing to 15%, pending shareholder approval, as the investment trust reported a record year.
The company, which notably benefited from being an early investor in Alibaba ahead of its record-breaking $25bn IPO in 2014, told investors this morning (8 June) that the unlisted space in China has "expanded quite markedly and offers some excellent opportunities for patient, long-term investors". Forget Chinatown, welcome to China World: How country continues to grow at home and abroad Fidelity China Special Situations, which has been managed by Dale Nicholls since 2014, held 7.4% of its NAV plus borrowing in nine unlisted companies as of 31 March, having added Full Truck Allianc...
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