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China investment trust company Fidelity China Special Situations reported net asset value growth that topped its benchmark in the first half of the year amid a positive backdrop for markets.
Over the reporting period from 1 April 2020 to 30 September 2020, the company's share price rose by 56.2%, and net asset value rose by 51.1%, while the MSCI China Index (the company's benchmark index) rose by 24.4%.
The portfolio performance was boosted by the performance of consumer-related stocks.
Looking ahead, the company said it had agreed a new tiered fee that would come into effect from 1 April 2021 of 0.90% on the first £1.5 billion of net assets, reducing to 0.70% on net assets over £1.5 billion.