FIDELITY CHINA SPECIAL SITUATIONS PLC: Interim Management Statement FIDELITY CHINA SPECIAL SITUATIONS PLC - INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2012 Issued pursuant to the requirements of Chapter 4 of the Disclosure and Transparency Rules Objective Fidelity China Special Situations PLC is focused on the long-term growth potential of China. The portfolio is made up primarily of securities issued by companies listed in China or Hong Kong and Chinese companies listed elsewhere. It may also invest in listed companies with significant interest in China and Hong Kong. Benchmark MSCI China Index (Sterling Equivalent) Review of Period (total return) During the period: - the NAV increased by 9.07% (debt at par) against a 12.13% increase by the benchmark. - the share price increased by 16.57%. - main portfolio changes are detailed in the top ten holdings below. Gearing was 124.68% on 31 December 2012. Material transactions - During the quarter the Company repurchased 500,000 shares for cancellation. - Since the quarter end no shares have been repurchased. Material Events * Interim Results for the Company for the 6 months ended 30 September 2012 were released on 14 November 2012. Additional Information Details of the Company Dealing Information Fund Manager: Anthony Bolton Listed: London Stock Exchange Enquiries: 08457 100 456 Broker: Cenkos WWW Address: www.fidelity.co.uk/ Price Quoted: Financial its Times Copies of major announcements and documentation relating to the Company may be found on the website Launch Date: 19 April 2010 Reuters Code: FCSS As at 31 December As at 13 SEAQ Code: B62Z3C7 2012 February 2013 Ordinary Shares 655,229,480 655,229,480 ISIN: GB00B62Z3C74 In Issue: Share price 1.71% 3.77% Registered discount to office NAV: Total Assets: £654.9m £742.4m Beech Gate Loan: £92.2m £96.5m Millfield Lane Total Net £562.7m £645.9m Lower Kingswood Assets: Tadworth Gross Asset £701.6m £769.2m Exposure: Surrey KT20 6RP 124.68% 119.10% Gearing: The Company's net asset value per share is announced daily and may be found on the Stock Exchange website www.londonstockexchange.com Portfolio Breakdowns Industry As at 31 As at 30 Largest 10 Holdings As at 31 As at 30 Analysis (% December 2012 September (% total assets) December September total assets) 2012 2012 2012 Consumer 27.7 28.7 Tencent Holdings 5.2 3.9 Discretionary Financials 24.7 24.3 Ping An Insurance 4.0 4.3 (Group) Company of China IT 20.4 16.7 Citic Securities 3.5 3.2 Company Health Care 10.8 12.8 HSBC Holdings 3.0 Industrials 4.1 3.5 Bank of China Hong 3.0 2.9 Kong Energy 3.4 2.0 AIA Group 2.9 3.3 Consumer 2.6 3.5 Wing Hang Bank 2.8 3.1 Staples Telecom 2.1 4.2 SAIC Motor 2.6 2.3 Services Corporation Other 2.9 - Asiainfo Linkage ** 2.4 - Cash 1.2 - Huaneng Power 2.2 - International ** Materials - 1.2 China Unicom (Hong - 3.6 Kong)* Utilities - 1.0 TVB* - 2.6 Cash & Others - 2.1 Alibaba Group* - 2.6 Total 100 100 * Not currently in the top 10 holdings ** Not in the top 10 holdings as at 30 September 2012 Price at 31 Quarter to 31 Quarter 1 Year to 2 Years December December 2012 to 30 31 to 31 2012 (p) September December December 2012 2012 2012 NAV (debt at 85.87 9.07 1.39 13.34 -22.37 par) Ordinary Share 84.40 16.57 -2.99 16.02 -27.98 price Benchmark Index 12.13 1.66 17.36 -3.54 As at 13 February 2013 the Company's NAV per share was 98.57p (debt at par) and the Company's share price was 94.85p per share. By order of the Board Christopher Pirnie For and on behalf of FIL Investments International Company Secretary 14 February 2013 Past performance is not a guide to future returns. The value of investments can go down as well as up. For funds that invest in overseas markets, changes in currency exchange rates may affect the value of an investment. Investments in small and emerging markets can be more volatile than other more developed markets. Source of performance: Fidelity and Datastream as at 31 December 2012. Basis: bid-bid with net income reinvested. Fidelity only gives information about its own products and services and does not provide investment advice based on individual circumstances. END -0- Feb/14/2013 15:23 GMT
FIDELITY CHINA SPECIAL SITUATIONS PLC: Interim Management Statement
Press spacebar to pause and continue. Press esc to stop.