Fidelity European Opportunities A

European portfolio which can have a high exposure to smaller cap stocks.

  • 517.50p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 3.50% 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 1.50%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.71%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.80%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 03 July 2020, fund data last updated 02 April 2014

The Fund’s objective is to achieve long term capital growth by investing in shares of continental European companies.

Fund summary

Sector Europe Excluding UK
Structure OEIC
Launched September, 1988
Size £333m
Yield 0.80%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 3.50%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.71%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.10%
  • 16/17 -0.11%
  • 17/18 0.06%
  • 18/19 -0.39%
  • 19/20 -0.06%

Bestinvest MRI

  • 3 years -0.13%
  • 5 years -0.08%
  • Career 0.01%
  • 3 years 40.50%
  • 5 years 50.80%
  • Career 74.50%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Alberto Chiandetti

Chiandetti joined Fidelity in July 2006 as an equity research analyst, working from Fidelity’s Milan office, focusing on small and mid cap Italian stocks. In October 2008 he became Portfolio Manager for FF Italy Fund, and from August 2011 the Portfolio Manager of FF Switzerland Fund. He assumed responsibility for managing the Fidelity European Opportunities fund from Colin Stone effective 1st October 2014. Prior to joining Fidelity, he spent 8 years working as an equity analyst with Euromobiliare SIM (currently Equita SIM), Italy, covering Italian media, building materials and transport sectors. Chiandetti is a CFA Charterholder.

Track record

Alberto Chiandetti has 5.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.01%. During the worst period of relative performance (from February 2016 - October 2019) there was a decline of 14% relative to the index. The worst absolute loss has been 19%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 75%.

Periods of worst performance

Absolute -19.00% (July 2019 - March 2020)
Relative -14.00% (February 2016 - October 2019)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Top 10 holdings

Data accurate as at 29 February 2020

6.6371% Nestle Sa
5.2293% Sap Se
3.859% Swedish Match Ab
3.7847% Qiagen Nv
3.511% Bayer Ag
3.3187% Beiersdorf Ag
3.1553% Enel Spa
2.9016% Nexi Spa
2.7919% Engie Sa
2.7261% Grifols Sa
Source: Trustnet

Sector breakdown

Health Care 25.00%
Information Technology 17.00%
Consumer Staples 15.00%
Financials 12.00%
Consumer Discretionary 8.00%
Industrials 7.00%
Utilities 6.00%
Materials 4.00%
Communications 3.00%
Money Market 3.00%

Portfolio

The portfolio typically holds around 100 stocks, although more recently it has become more concentrated.

Constraints

The portfolio typically holds between 60-90 stocks

Key Investor Information

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