TIDMFSV

Fidelity Special Values PLC

14 October 2020

London, UK, 14 October 2020

Edison issues review on Fidelity Special Values (FSV)

Fidelity Special Values (FSV) employs a value-based, contrarian investment style aiming to achieve long-term capital growth primarily through investment in UK companies, which the managers believe are undervalued or where potential has not been recognised by the market. FSV has endured a challenging period of underperformance. However, lead manager Alex Wright and co-manager Jonathan Winton believe the Q120 market sell-off created many investment opportunities, which they have sought to exploit. In their view, UK value stocks, and FSV in particular, now offer great value, which is further amplified by the trust's current discount making for a good valuation starting point for investment. The managers see significant scope for the trust to outperform not only growth strategies and UK equities in general, but also other asset classes.

FSV is currently trading at a discount of 9.2% to NAV, which compares with an average discount of 3.1% over one year, 1.3% over three years, and 2.9% and 5.9% over five and 10 years respectively. Based on the current share price, the trust offers a yield of 3.1%.

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For more information please contact Edison:

Joanne Collins, +44 (0)20 3077 5000

Mel Jenner, +44 (0)20 3077 5720

investmenttrusts@edisongroup.com

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October 14, 2020 09:45 ET (13:45 GMT)

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