Lots of fund managers like to claim they’re contrarian, but consistently flying in the face of popular sentiment – and getting it right – is difficult.
Fidelity’s Alex Wright has made a name for himself by picking stocks that are unloved by the market. He runs the £3.3bn Fidelity Special Situations fund and £680m Special Values trust.
The trust, which is one of our Telegraph 25 top fund picks, has delivered triple the return of the FTSE All Share index since he took over in 2012. Unlike the fund, it can borrow money to attempt to boost returns when opportunities arise.
Telegraph Money spoke to Mr Wright about the trust’s investing style, negativity about UK stocks, and his worst-ever investment....