Fidelity Special Values PLC (LON:FSV) has published its monthly factsheet for August 2025.
Portfolio Manager Commentary
UK equities extended their gains in August, marking the fourth consecutive month of positive performance. This was supported by resilient corporate earnings and expectations surrounding a potential ceasefire in Ukraine. The Bank of England delivered a 0.25 percentage point rate cut, reducing the base rate to 4%, in what was widely seen as muted policy easing. Meanwhile, inflation accelerated unexpectedly to 3.8% in the 12 months to August 2025. At the sector level, telecommunications, healthcare and basic materials outperformed, while technology lagged amid growing investor caution around the disruption and profitability from AI-related investments.
The UK has been performing well over the past five years and remains a fertile hunting ground for contrarian stock pickers. However, the fact that UK…
