Fidelity's Alex Wright looks for buying opportunities after poor month

Fund down 4.7% in one month

Alex Wright, manager of the £2.8bn Fidelity Special Situations fund, has had a challenging month with his fund down 4.7% in February, while the FTSE All-Share index was down just 0.5%, according to the fund’s factsheet.

Year to date the performance has been even worse with the fund down 5.4%, while the index was down 1.3%, according to FE fundinfo. While acknowledging the recent weak performance, Wright highlighted that recent market moves in response to the crisis in Ukraine "have been particularly sharp and not always particularly discriminate". Schroders: Chinese market volatility requires 'patience' In the latest factsheet, published 16 March, the manager said he was using the very low leverage levels to take advantage of "attractively valued opportunities" and they had increased leverage over...