Evelyn Partners drops Ninety One UK Alpha for Fidelity Special Sits

Core Managed Portfolio Service rebalance

Evelyn Partners' James Burns has rotated out of the Ninety One UK Alpha fund and into Fidelity Special Situations across its Core Managed Portfolio Service, to take advantage of the "compelling value" among UK small and mid caps.

Burns, who is lead manager of the firm's Core MPS range, has initiated positions of between 2% and 4.5% in the £3bn Fidelity Special Situations fund across the Conservative, Cautious, Balanced, Growth, Adventurous and Maximum Growth portfolios.  Over one year, Fidelity Special Situations has returned 22% versus 14.9% from the IA UK All Companies sector, while the £289m Ninety One UK Alpha fund has returned 11.8%, according to FE Fundinfo. Evelyn Partners CEO Geddes warns of 'stifling' CGT change impact "Although we see large companies as attractively priced, we see even more value ...