37. The 12 year-old asking for an investment

Having badgered his parents for an investment in Foreign and Colonial investment trust at the age of 12, it’s perhaps no wonder that Alex Wright became a fund manager. Here he talks to us about his own trust, Fidelity Special Values, tells us why he invests in stocks other people don’t like, and debates the merits of banks and Brexit.
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Launched in 1994, Fidelity Special Values is a portfolio of unloved UK companies. Manager Alex Wright is a contrarian investor. He looks for stocks that are out-of-favour, but that must meet two strict criteria: have a cheap valuation or an asset (such as intellectual property or inventory), which has the potential to limit share price falls, and a catalyst for significant earnings growth. Although his approach often puts him on the opposite side of consensus, he is a patient investor and is prepared to wait for his stocks to deliver.

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