Fidelity European Values PLC aims to be the cornerstone long-term investment of choice for those seeking European exposure – across market cycles. The trust investments primarily in continental European equities and up to 20% of gross assets may be invested in companies outside of the continent. It follows a consistent bottom-up approach, seeking to identify companies able to grow dividends over a three- to five-year horizon.
Viewed as a whole, the European Union is the largest economy in the world, the largest exporter and largest importer of goods and services. Aiming to capture the diversity of Europe, across a range of countries and sectors, this investment trust looks beyond the noise of market sentiment and concentrates on the real-life progress of European businesses. It researches and selects stocks that can grow their dividends consistently, irrespective of the economic environment.
The portfolio of stocks is fairly concentrated at between 50 to 60 diversified stocks with no bias to a particular sector or company size.
Sam Morse assumed responsibility for Fidelity European Fund on 1 January 2010 and the portfolio of Fidelity European Values on 1 January 2011. Prior to becoming a portfolio manager, Sam spent two years as a research analyst with Fidelity, covering a range of sectors, then six years as an equity income fund manager at Fidelity. He also worked as Head of Equities and Head of UK Equities at M&G from 1997 to 2003.
Past performance is not a reliable indicator of future results. Fidelity does not give advice. If you’re unsure of the suitability of an investment for you, you should speak to an authorised financial adviser.
The value of investments can go down as well as up so investors may get back less than they invest. Overseas investments are subject to currency fluctuations. This investment trust can gear through the use of bank loans or overdrafts and this can be achieved through the use of derivatives. Their use may lead to higher volatility in the Net Asset Value and Share Price. This investment trust is able to invest some or all of its assets in developing overseas markets which carry a higher risk than investing in larger established markets. Investments in emerging markets are likely to experience greater rises and falls in value and there may be trading difficulties.
Registered in England and Wales; registration number 02638812.
Registered office: FIL Investments International, Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey KT20 6RP.
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