abrdn China to merge with Fidelity China Special Situations

To create £1.2bn investment trust

abrdn China Investment Company is set to merge with Fidelity China Special Situations, which has in excess of £1bn in assets, to create a combined trust with net assets of £1.2bn.

Following the transaction, which must be approved by both trusts' shareholders, the enlarged Fidelity China Special Situations (FCSS) will continue to be managed to achieve long-term capital growth from an actively managed portfolio made up primarily of securities issued by companies listed in China and Chinese companies listed elsewhere. FCSS will continue to be managed by FIL Investment Management (Hong Kong), with Dale Nicholls carrying on as portfolio manager. As part of the deal, shareholders of the enlarged Fidelity China Special Situations will pay a lower ongoing charges figur...