Search Follow us

Fidelity European Values (FEV)

Business description

FEV's investment objective is to achieve long-term capital growth from a portfolio of listed shares in continental European companies. The portfolio manager is not restricted in terms of market cap, country or sector allocation, although a minimum of 80% of gross assets will be invested in companies from countries that are included in the benchmark index (the FTSE World Europe [ex-UK] Index). A maximum of 5% of gross assets may be invested in non-European companies that have some European exposure or connection.

Stock data

Market cap.£894.4m
Last close217.00p
High / Low (52 weeks)239.0p / 202.5p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment Companies

Other companies in sector Show

Aberdeen New Dawn Investment Trust Aberdeen New Thai Investment Trust
Aberdeen Private Equity Fund Aberdeen UK Tracker Trust
AcenciA Debt Strategies Acorn Income Fund
Adamas Finance Asia Alliance Trust
Altamir SCA Amphion Innovations
Aurelius Bailador Tech Investments
Baker Steel Resources Trust Bankers Investment Trust (The)
BB Biotech BioPharma Credit
BlackRock Greater Europe Investment Trust BlackRock Hedge Selector
BlackRock Latin American Inv. Trust British Portfolio Trust
Brunner Investment Trust (The) Canadian General Investments
Carador Income Fund CFP Sanford DeLand Free Spirit Fund.
Charles Stanley City Natural Resources
Conversus Capital CQS Rig Finance Fund
CVC Credit Partners European Opps Detour Gold
Deutsche Beteiligungs Dexion Commodities
Diverse Income Trust (The) DouglasBay Capital
Dunedin Enterprise Investment Trust DW Catalyst Fund
Edinburgh Worldwide Investment Trust (The) EJF Investments
European Assets Trust European Investment Trust (The)
F&C Managed Portfolio Income F&C Managed Portfolio Trust
F&C US Smaller Companies Fidelity Asian Values
Fidelity China Special Situations Fidelity Japan Trust
Fidelity Special Values Finsbury Growth & Income Trust
Foreign & Colonial Investment Trust Gartmore Growth Opportunities
Gartmore Irish Growth Fund Geiger Counter Limited
Genesis Emerging Markets Fund GLI Alternative Finance
Global Resources Investment Trust Golden Prospect Precious Metals
Gulf Investment Fund Hansa Trust (HAN)
HarbourVest Global Private Equity HarbourVest Senior Loans Europe
HBM Healthcare Investments Heliad Equity Partners
Henderson Alternative Strategies Trust Henderson Far East Income
Henderson Global Trust Henderson Global Trust
Henderson International Income Trust Heptagon
HSBC Infrastructure Company Infrastructure India
International Biotechnology Trust Invesco Asia Trust
Invesco Income Growth Trust Is Private Equity
JP Morgan Private Equity Limited JPMorgan Brazil Investment Trust
JPMorgan European Smaller Companies Trust JPMorgan Global Convertibles Income Fund
JPMorgan Global Growth & Income JPMorgan Indian Investment Trust
Jupiter Green Investment Trust Jupiter UK Growth Investment Trust
Jupiter US Smaller Companies JZ Capital Partners Limited
Lazard World Trust Fund Leaf Clean Energy Company
LMS Capital Lowland Investment Company
LPeC Marble Point Loan Financing
Martin Currie Asia Unconstrained Trust Martin Currie Global Portfolio Trust
Middlefield Canadian Income Miton Global Opportunities
Miton Income Opportunities Trust Murray International Trust
New City Energy Ocean Wilsons Holdings
Odyssean Investment Trust Pacific Assets Trust
Phaunos Timber Fund Polar Capital Global Healthcare Trust
Princess Private Equity Holding PXP Vietnam Fund
Rathbone Brothers RENN Universal Growth Investment Trust
Schroder AsiaPacific Fund Schroder Global Real Estate Securities
ScotGems Scottish Oriental Smaller Companies
Securities Trust of Scotland Seneca Global Income & Growth Trust
Sigma Capital Group Standard Life Equity Income Trust
Standard Life Investments Property Income Trust Standard Life Private Equity Trust
Standard Life UK Smaller Companies Strategic Equity Capital
Taiwan Fund (The) Templeton Emerging Markets Investment Trust
Tetragon Financial Group The Biotech Growth Trust
The Law Debenture Corporation The Merchants Trust
The North American Income Trust The Scottish Investment Trust
Tiso Blackstar Group Toscafund Asset Management
TR European Growth Trust UK Commercial Property REIT
Utilico Emerging Markets Trust Vietnam Enterprise Investments
Vietnam Holding Asset Management Vietnam Infrastructure Fund
VinaCapital Vietnam Opportunity Fund VinaLand
Vision Opportunity China Fund WAM Active
WAM Capital WAM Research
Witan Investment Trust Witan Pacific Investment Trust
Worldwide Healthcare Trust YFM Equity Partners

Company news

Investment summary

Fidelity European Values (FEV) aims to achieve long-term capital and income growth from a portfolio of primarily continental European equities. Although well diversified, the portfolio became more concentrated during 2017, as the manager sold stocks that had performed well and reinvested in existing holdings. While retaining a positive net market gearing, the manager added 10 single-stock short positions to the portfolio in August 2017, reflecting the view that valuations had become stretched in many parts of the market. A lower 0.75% management fee on assets over £400m takes effect from April 2018, while a reallocation of fees and expenses from revenue to capital will positively affect the level of future dividend payouts.

Last updated on 03/04/2018

Key management

Vivian Bazalgette, Chairman
Sam Morse, Fund manager

Company address

Oakhill House,
130 Tonbridge Road
Hildenborough, Tonbridge
Kent
TN11 9DZ
United Kingdom
+44 (0)800 414110
View website