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Morningstar backs Fidelity Special Sits to outpeform

Morningstar has given Sanjeev Shah a significantly above average chance of outperforming the market in its first major review of the Fidelity Special Situations fund.

The ratings agency says the fund should remain a core holding for many investors and that given the circumstances Shah is the right appointment.

But it says Shah must show what he can do with such a significant asset base before they buy in totally to the fund.

The agency has some doubts including the size of the fund and the fact that Shah’s performance on his previous large fund the European Aggressive fund was “middling”. It is also concerned that he has a smaller range of funds on the UK fund than on this European fund.

The note says: “We would expect the fund to do well in a variety of markets, but it could lag when a narrow group of pricey sectors leads the way.”

“|The fund is an appropriate core UK equity holding for investors who can tolerate periods of underperformance. For those who are concerned by the possibility of loss or lagging a benchmark over a period of time, this may not be a suitable offering.”


Teenager shows way for future

It is with some sadness I came across a letter in last week’s Money Marketing from Tom Gardner criticising Brocha Simon’s commendable desire to complete the IFS’s Cefa and Cemap at the age of 16. I was shocked to read such backwoodsman-like comments, especially following the publication of the FSA’s RDR new minimum qualification proposals. […]

Adviser online network IFA Life Mortgages launches

Online networking forum IFA Life is launching a version for the mortgage market branded IFA Life Mortgages. The move is in response to demand from mortgage professionals for a dedicated forum to provide online networking, business resources and debate on a range of industry issues appropriate to their needs. IFA Life Mortgages launched on its […]

An adviser’s angst rap (with apologies to Eminem)

“Dear Slim, I wrote but you still ain’t callin’. I sent two letters back in autumn, you must not-a got ’em.There probably was a problem at the post office or something. Anyways, I hope you get this man, hit me back, just to chat, truly yours, your biggest fan. This is Stan.” “Dear Stan, Sorry […]

Off target

Target return funds have failed to deliver so why do investors brother?


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