fund
Fidelity European Opportunities W
European portfolio which can have a high exposure to smaller cap stocks.
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523.80p
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.
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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?
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0.00%
Initial chargeSome 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!
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0.75%
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).
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0.96%
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.
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2.10%
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…
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 | October, 2012 |
| Size | £345m |
| Yield | 2.10% |
| Charging basis | Income |
| Dividends paid | Acc units only |
Charges
| Standard initial charge | 0.00% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.75% |
| Ongoing charges figure | 0.96% |
Allocation
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Investment process
Manager research
Average monthly relative returns
- 16/17 -0.12%
- 17/18 -0.16%
- 18/19 -0.41%
- 19/20 -0.22%
- 20/21 0.11%
Bestinvest MRI
- 3 years -0.18%
- 5 years -0.16%
- Career -0.02%
- 3 years 31.90%
- 5 years 28.80%
- Career 68.10%
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 6.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.02%. 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%.
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 31 July 2020
| 6.5892% | Nestle Sa |
| 5.4619% | Sap Se |
| 4.5422% | Capgemini Se |
| 4.3919% | Roche Hldg Ag |
| 3.7507% | Sanofi |
| 3.4589% | Ericsson Nikola Tesla |
| 3.3575% | Prosus N.v. |
| 3.287% | Worldline |
| 3.1813% | Bayer Ag |
| 3.0556% | Gn Great Nordic Ltd |
| Source: Trustnet |
Sector breakdown
| Information Technology | 28.00% |
| Health Care | 23.00% |
| Consumer Staples | 14.00% |
| Financials | 9.00% |
| Consumer Discretionary | 8.00% |
| Industrials | 7.00% |
| Utilities | 5.00% |
| Communications | 3.00% |
| Materials | 2.00% |
| Money Market | 1.00% |
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