Fidelity Sustainable European Equity W

Targets capital growth from continental European equities. Run with an ESG focus.

  • 575.90p
    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?

  • 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!

  • 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).

  • 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.

  • 0.50%

    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 30 July 2021, fund data last updated 02 April 2014

The fund invests in companies with strong sustainable models, both in terms of financial and non-financial performances. Portfolio manager Vincent Durel uses Fidelity’s in-house research capabilities to identify investment opportunities. His focus is on high-return businesses with durable franchises where management creates value through efficient capital allocation. He believes that effective management of Environmental, Social and Governance factors enhances the durability of a company’s returns and will have a positive impact on shareholder outcomes over time.

Fund summary

Sector Europe Excluding UK
Structure OEIC
Launched October, 2012
Size £346m
Yield 0.50%
Charging basis Income
Dividends paid Acc units only


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%


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Investment process

Manager research

Average monthly relative returns

  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.25%
  • 19/20 0.50%
  • 20/21 -0.03%

Bestinvest MRI

  • 3 years 0.24%
  • 5 years 0.00%
  • Career 0.22%
  • 3 years 94.70%
  • 5 years 0.00%
  • Career 96.60%

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

Vincent Durel

Durel joined Fidelity as a Senior Research Analyst in June 2004. He became a Portfolio Manager in January 2007. Prior to Fidelity, he has worked with Kepler Securities and Jefferies International as a Research Analyst. Durel is a Certified Financial Analyst from SFAF (French Society of Financial Analysts).

Track record

Vincent Durel has 3.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.22%. During the worst period of relative performance (from December 2020 - May 2021) there was a decline of 5% relative to the index. The worst absolute loss has been 16%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 97%.

Periods of worst performance

Absolute -16.00% (December 2019 - March 2020)
Relative -5.00% (December 2020 - May 2021)

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 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%

Key Investor Information