Review: Finding opportunities among large caps
Fidelity European Values (FEV) aims to achieve long-term capital growth through investing primarily in continental European equities. The manager follows a consistent bottom-up approach, seeking to identify companies able to grow dividends over a three- to five-year horizon. FEV’s NAV total return performance has been ahead of its FTSE World Europe ex-UK benchmark over three, five and 10 years, although investments in out-of-favour areas of the market have given the portfolio a slightly contrarian large-cap bias relative to peers, which has been unhelpful during recent small-cap outperformance. The portfolio’s historically high relative dividend yield and superior growth prospects are seen by the manager as a positive indicator for future performance.Fidelity European Values operates as an investment company with a managed portfolio of investments, consisting primarily of continental European securities. Co.'s Portfolio Manager focuses on attaining a total return on Co.'s total assets over the longer term in excess of the Benchmark Index, the FTSE World Europe (ex UK) Index. Co. may utilize derivative instruments, including index-linked notes, futures, contracts for difference, covered call options, put options and other equity-related derivative instruments as a tool to meet its investment objective.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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