Fidelity European Values - Disciplined process driving outperformance
Fidelity European Values (FEV) is managed by Sam Morse, who selects stocks on a bottom-up basis, focusing on quality companies with strong balance sheets that are able to grow dividends over the long term. He notes that investor concerns that affected the market in 2019 are abating: central banks are very supportive; a resolution to the US-China trade war is looking more likely; and within Europe, there is the prospect of fiscal stimulus to support economic growth. While there is potential for a rotation in market leadership towards cyclical stocks, which could put the fund’s relative performance under pressure, the manager is ‘sticking to his knitting’, and remaining disciplined, rather than shifting his portfolio exposures in an effort to try to ‘time the market’.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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