Fidelity European Opportunities A

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

  • 490.90p Price (Inc)
  • - Price (Acc)
  • 3.50% 0.00% Initial charge
  • 1.50% Annual management charge
  • 1.71% Ongoing charges
  • 0.30% Yield

Prices as at 10 December 2019, 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 £364m
Yield 0.30%
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%

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Investment process

Manager research

Average monthly relative returns

  • 14/15 0.61%
  • 15/16 0.13%
  • 16/17 -0.31%
  • 17/18 -0.10%
  • 18/19 -0.58%

Bestinvest MRI

  • 3 years -0.33%
  • 5 years -0.05%
  • Career -0.06%
  • 3 years 6.30%
  • 5 years 58.30%
  • Career 56.40%

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 5.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.06%. 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 17%.

Periods of worst performance

Absolute -17.00% (July 2018 - December 2018)
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.

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Top 10 holdings

Data accurate as at 31 July 2019

6.3112% Nestle Sa
5.2469% Sap Se
4.7093% Qiagen Nv
3.7941% Beiersdorf Ag
3.2644% Engie Sa
3.21% Julius Baer Gruppe Ag
3.138% Fresenius Medical Care Ag & Co.kgaa
2.9411% Boss (Hugo) Ag
2.877% Bayer Ag
2.8015% Sanofi
Source: Trustnet

Sector breakdown

Health Care 24.00%
Consumer Goods 22.00%
Technology 15.00%
Financials 14.00%
Industrials 11.00%
Money Market 4.00%
Utilities 3.00%
Oil & Gas 2.00%
Consumer Services 2.00%
Basic Materials 2.00%

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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