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Fidelity China Special Situations has gone straight into the FTSE 250 in the index maker’s latest reshuffle of constituents.
By Jonathan Boyd, Editor-in-chief, Financial Express Thursday June 10, 2010
The Fidelity China Special Situations investment company managed by industry legend Anthony Bolton has gone straight into the FTSE 250 on the basis of its market capitalisation of around £460m.
However, the story overall is of a number of funds and financial services related firms being relegated. The London Stock Exchange has been kicked out of the FTSE 100 as the index makers look to include a couple of new mining and energy firms.
Thus, the LSE has been demoted to the FTSE 250 index, to join the dollar denominated security of BH Macro, the Caymans based hedge fund provider. Previously FTSE 250 listed funds have been demoted on the basis of their market capitalisation value at the time of the index rebalancing. These include JPMorgan Japanese Investment Trust, Dunedin Income Growth Trust and Ecofin Water and Power Opportunities.
Brewin Dolphin Holdings and F&C Asset Management were also excluded from the mid-cap index.
All changes will be implemented as of trading on Monday 21 June.
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