Fidelity European Values IT (FEV) - Rating Suspended

By JOHN DAVEY 01/07/2008

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It has been announced that Tim McCarron is to be succeeded by Sudipto Banerji with effect from end of June 2008. Tim has run the trust very successfully since November 2001 returning 159.3% in NAV total return terms versus a benchmark return of 81.2%. Sudipto Banerji has 12 years' investment experience and has worked at Fidelity for 7 years as a research analyst (covering European retail and banking stocks) and more recently as the portfolio manager of Fidelity Funds Global Industrials Fund. Sudipto started working alongside Tim as co-manager from April whilst going forward Tim will continue to manage the £4.8bn Fidelity European OEIC.

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Values delayed by at least 15 minutes.
Source: Financial Express