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OBSR gives A ratings to Fidelity special sits duo

Old Broad Street Research has awarded A ratings to Fidelity’s two special situations funds.

Fidelity special situations had its AAA rating suspended after fund manager Anthony Bolton left at the end of last year to be replaced by Sanjeev Shah.

OBSR research director Richard Romer Lee says: “Having met with Shah on a number of occasions both before and after the official handover and reviewed the derivative usage policy which will apply to the fund, our overall conviction leads us to introduce this rating.”

Fidelity global special situations, which launched in September 2006 and is run by Jorma Korhonen, has also received an A rating.

Romer Lee says: “Having seen Korhonen build a very creditable performance record of risk-adjusted returns in this time and reviewed the derivative usage policy which will apply to the fund, our conviction leads us to award this A rating.”

OBSR has also upgraded Fidelity’s moneybuilder income fund to an AAA rating from AA and given the Fidelity sterling bond an A rating.



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