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SKANDIA FIDELITY EUROPEAN LF - Fund overview

Bestinvest rating 1 stars


Overview of SKANDIA FIDELITY EUROPEAN LF

The Fund’s objective is to achieve long term capital growth by investing in Continental European companies. The manager invests in companies of all sizes, though because of the fund’s size it is likely to be dominated by large and mid cap stocks. The investment universe is refined by in-house analysts, but the manager has final responsibility for stock selection and portfolio construction. Sector and country weights are kept close to the benchmark, with the manager aiming to add value primarily through stock selection.

Standard Initial Charge

No data available.

Fund summary

Sector  –
Product type  INSURANCE BOND
Launched  July, 1986
Size  £65m
Yield 0.0%
Charging basis  –
Dividends paid  –
Bid price 1,530.10p

Fund Charges

Standard Initial charge
Initial charge via Bestinvest
Additional bid/offer spread 5.00%
Annual management charge
Total expense ratio
Reduction in yield (10yr) 0.51%

Bestinvest says


This fund was previously managed by Tim McCarron who left after a period of poor performance. Sam Morse, his replacement, is another product of Fidelity's research team and has a long history with the group, although his track record in European equities is limited. The open-ended Fidelity European fund is similar to the London-listed closed-ended Fidelity European Values IT (LSE:FEV) run by the same manager.

Portfolio

skandia fidelity european lf asset allocation illustration
Allocation Proportion
Equity 100%
High yield bonds 0%
Quality bonds 0%
Property 0%
Commodities 0%
Hedge 0%
Fund cash 0%
skandia fidelity european lf equity geographic illustration
Allocation Proportion
UK 4%
Europe 93%
Nth America 0%
Japan 0%
Pacific 0%
Other Equity 3%
skandia fidelity european lf equity capitalisation illustration
Allocation Proportion
Large Caps 67%
Mid Caps 27%
Small Caps 6%

Investment process


This fund’s process is focused on investing primarily in companies exhibiting dividends and consistent dividend growth, as the fund manager believes that this represents a steady structural growth. The portfolio will have a minimum of 95% invested in Continental European securities with the additional 5% invested in companies that have a reasonable degree of exposure to Europe. The investment universe is narrowed by in-house research analysts who are grouped into industry teams. Their responsibility is to identify companies that demonstrate the following key criteria: positive fundamentals, ability to generate cash, strong balance sheet and an attractive valuation multiple. The fund manager then applies a “three good reasons to buy” method looking to identify two fundamental reasons and one valuation argument. The chosen investments will then be incrementally built up into the portfolio and constantly reviewed.

The value of your investments and the income from them can go down as well as up, and you can get back less than you originally invested. Past performance or any yields quoted should not be considered reliable indicators of future returns. Before investing in funds please check the specific risk factors on the key features document or refer to our risk warning notice as some funds can be high risk or complex; they may also have risks relating to the geographical area, industry sector and/or underlying assets in which they invest. Prevailing tax rates and relief are dependent on your individual circumstances and are subject to change.

Bestinvest (Brokers) Ltd & Bestinvest (Consultants) Ltd are authorised and regulated by the Financial Services Authority. This site is for UK Investors only

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