The fund has impressed Husselbee since Alex Wright took over as manager from Sanjeev Shah in 2014.
Wright invests in the ‘bombed out stocks’ due a positive change from across the FTSE All Share Index.
Husselbee said: “The key thing we look for when deciding where to allocate our clients’ money is a consistent investment style and approach – rather than, for example, just buying a fund based on past performance.
“With this in mind, as summer drew to a close we bought into the Fidelity Special Situations, managed by Alex Wright, who describes himself as a contrarian investor – seeking out bombed-out stocks entering a period of positive change which other investors are giving the cold shoulder.”
The fund now sits across all Liontrusts risk target portfolios.
The fund, first launched in 1979, was originally managed by Anthony Bolton.
“We previously held this fund under Anthony Bolton’s tenure, but have since been impressed with Alex, who has maintained the original approach and objective of the fund.”
Wright has also managed the Fidelity UK Smaller Companies fund since2008.
Husselbee added: “Our purchase of the Fidelity Special Situations Fund may be contrarian as we don’t see many of our peers invested. It has, however, been a very popular fund for nearly four decades and is still widely held amongst the retail market.”
