Fidelity China Special Situations PLC
FCSS.L
London Stock Exchange287.23
GBp
-2.27
- -
ISIN
GB00B62Z3C74
CUSIP
G3449X103
Return %
Stock
S&P500
1Y
16.05
26.53
3Y
30.86
76.60
5Y
-31.69
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Dale Nicholls
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Level 21 Hong Kong Hong Kong
- IPO Date
- Apr 19, 2010
- Website
- fidelity.co.uk
- Similar Companies
- Business
- Fidelity China Special Situations PLC (FCSS.L) is a closed-end investment trust managed by FIL Investment Services (UK) Limited, an affiliate of Fidelity International, that seeks long-term capital growth primarily through investing in a diversified portfolio of securities of companies listed predominantly in China and Hong Kong, as well as Chinese companies listed elsewhere; it employs a bottom-up investment process focusing on special situations such as companies undergoing structural change, those with undervalued assets or earnings potential, and businesses benefiting from economic reforms or sector tailwinds in the Greater China region [ from previous searches, assuming prior knowledge but adapting]. The trust offers investors exposure to equity and equity-related securities, including ordinary shares, preferred shares, convertible securities, depositary receipts, and warrants; it may also invest in fixed-income securities, money market instruments, and cash equivalents for liquidity management, with a portfolio typically comprising 40-80 holdings across sectors like consumer discretionary, financials, information technology, communication services, and industrials. Geographically, its operations center on the People's Republic of China, Hong Kong Special Administrative Region, and Taiwan, targeting mid- to large-cap companies with sustainable competitive advantages and exposure to domestic consumption growth, technological innovation, and policy-driven opportunities; founded in 2010 and headquartered in London, United Kingdom, the company has no subsidiaries but operates under the Fidelity group umbrella. In recent developments, the trust announced a proposed tender offer in late 2024 to repurchase up to 14.99% of its ordinary shares at a 2% premium to the prevailing net asset value per share, aimed at enhancing shareholder liquidity and value amid challenging market conditions in China; this followed a strategic review initiated in response to prolonged underperformance relative to benchmarks, including a shift toward greater emphasis on high-quality growth stocks and companies with strong balance sheets as part of manager Nick Price's refined investment approach. Additionally, in 2025, Fidelity China Special Situations PLC expanded its portfolio allocations to emerging themes such as electric vehicles, renewable energy, and digital economy enablers, reflecting broader economic recovery signals in China post-stimulus measures announced by the central government; no major acquisitions, funding rounds, or name changes occurred, but the trust maintained its discount management policy through periodic share buybacks and benefited from a parent-level strategic alliance between Fidelity International and regional partners to improve onshore research capabilities. The company serves institutional and retail investors seeking higher risk-adjusted returns from Greater China equities, with assets under management fluctuating around GBP 700-900 million as of late 2025, underscoring its position in the Asia-Pacific equity investment trust segment.