Fidelity China Spec Sits to raise another £162m

The Fidelity China Special Situations investment trust is to raise another £162m through a C-share issue.

The fund, which was the largest investment trust launch of the last 12 months, will offer 166.25m C-shares with an issue price of 100p per share.

Net of expenses, the issue will raise £162.1m.

The trust is still trading at a 3.87% premium, despite Fidelity’s attempts to reduce its shares to the net value of their assets and worries of overheating in emerging markets.