Fact sheet: Fidelity European Value

Fund information
Fund name
Fidelity European Value A Acc EUR
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund managers
  • Matt Jonessince 01/12/2016
  • Hiten Savanisince 01/12/2016
Fund objective
Aims to provide long-term capital growth with the level of income expected to below. At least 70% invested in undervalued shares of companies that have their head office or a main part of their activity in Europe. The choice of assets is guided by a value style bias. A value approach focuses on shares that are underpriced according to financial measures. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Investments are concentrated in the shares of a more limited number of companies and therefore the resulting portfolio will be less diversified. Can use derivatives with the aim of risk or cost reduction or to generate additional capital or income in line with the fund's risk profile. The fund has discretion in its choices of investments within its objectives and policies. Income is accumulated in the share price. Shares can usually be bought and sold each business day of the fund. This fund may not be appropriate for investors who plan to sell their shares in the fund within 5 years. Investment in the fund should be regarded as a long-term investment.
Benchmark
  • MSCI Europe Value
Investment style
Value
Investment method
Shares
Quick stats
1 Year return
20.9%
1 Year rank in sector
58/227
Sector
FO Equity - Europe inc UK
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.95%
Fund size
£124m (£157m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
119
Top in this sector
Fund name1 Year
EP Pan European Opportunities44.6%
GS Eur CRE Eq Pfl39.6%
EDRF Eur Synrg37.4%
Sparinvest Eurpn Val37.4%
E.I.Sturdza StEurpSmCos36.5%
...more in FO Equity - Europe inc UK

Performance snapshot

Holdings snapshot

  • UK29.2%
    France21%
    Germany12%
    Finland10.1%
    Netherlands9.1%
  • Financials36.7%
    Energy14.7%
    Industrials12.6%
    Consumer Staples7.3%
    Health Care6.4%
  • UK Equities29.2%
    French Equities21%
    German Equities12%
    Finnish Equities10.1%
    Dutch Equities9.1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund5.6%7.5%18.2%20.9%18.3%79.7%
Sector4.3%6.9%15.5%16%23.1%77.4%
Rank within sector37 / 23385 / 23240 / 22958 / 227142 / 19898 / 173
Quartile1st2nd1st2nd3rd3rd
Calendar performance
 YTD - 20172016201520142013
Fund8.1%0.4%7.8%5%23.3%
Sector9.7%-0.6%11.1%4.2%21.1%
Rank within sector183 / 23295 / 224139 / 205106 / 19473 / 179
Quartile4th2nd3rd3rd2nd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-2.87
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1.22
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.08
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
15.85
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
5.62
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-0.31
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.91
Price movement
52 week high17.49
52 week low12.8
Current bid price-
Current offer price-
Current mid price17.32
Region
1UK29.2%
2France21%
3Germany12%
4Finland10.1%
5Netherlands9.1%
6Italy6.1%
7Switzerland5%
8Spain3%
9Denmark2%
Industry sector
1Financials36.7%
2Energy14.7%
3Industrials12.6%
4Consumer Staples7.3%
5Health Care6.4%
6Utilities5.3%
7Consumer Discretionary5%
8Information Technology4.9%
9Materials4.2%
Asset type
1UK Equities29.2%
2French Equities21%
3German Equities12%
4Finnish Equities10.1%
5Dutch Equities9.1%
6Italian Equities6.1%
7Swiss Equities5%
8Spanish Equities3%
9Danish Equities2%
Individual holdings
1ROYAL DUTCH SHELL PLC-A SHS5.7%
2BP PLC3%
3TOTAL SA3%
4ENEL SPA2.7%
5IBERDROLA SA2.6%
6INTESA SANPAOLO SPA2.5%
7RENAULT(REGIE NATIONALE DES USINES)2.3%
8LLOYDS BANKING GROUP PLC2.2%
9BNP PARIBAS (SUISSE) SA2.1%
Management
Fund manager group
Fidelity
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund objective
Aims to provide long-term capital growth with the level of income expected to below. At least 70% invested in undervalued shares of companies that have their head office or a main part of their activity in Europe. The choice of assets is guided by a value style bias. A value approach focuses on shares that are underpriced according to financial measures. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Investments are concentrated in the shares of a more limited number of companies and therefore the resulting portfolio will be less diversified. Can use derivatives with the aim of risk or cost reduction or to generate additional capital or income in line with the fund's risk profile. The fund has discretion in its choices of investments within its objectives and policies. Income is accumulated in the share price. Shares can usually be bought and sold each business day of the fund. This fund may not be appropriate for investors who plan to sell their shares in the fund within 5 years. Investment in the fund should be regarded as a long-term investment.
Benchmark
  • MSCI Europe Value
Investment style
Value
Investment method
Shares
Fund managers
NameSinceBiography
Matt Jones01/12/2016Matt Jones has over 18 years’ investment experience specialising in quantitative analysis and portfolio management. He has been responsible for the day-to-day management of a range of Fidelity’s research-driven equity strategies since 2011, initially in the role of Quantitative Portfolio Assistant and subsequently, since July 2011, as Portfolio Manager. Matt joined Fidelity in 2005 and worked as a Quantitative Analyst/Senior Quantitative Analyst and also in the role of a Senior Research Analyst, which provided additional perspective on working with fundamentals-based research analysts. Previously, Matt worked at JPMorgan as a quantitative analyst in JP Morgan’s quant team rated Number 1 in Asia, where his work included the analysis and back testing of fundamental bottom-up research analysts’ stock recommendation scores. Prior to that, he also worked for 5 years at Bankers Trust, a global bottom-up fundamental research-driven asset manager, in the fundamental international equity team. Matt has a Masters degree in Applied Finance, a Bachelor of Commerce in Economics and Business Law and a Postgraduate Diploma in Accounting.
Hiten Savani01/12/2016Hiten Savani has over 13 years of investment experience. He has been closely associated with Fidelity’s range of systematic equity strategies since 2010 when he joined the company as Investment Director. Hiten has been involved with product design and worked closely with our global client base. Formerly a Strategist at Goldman Sachs, Hiten developed strong quantitative skills, a good working knowledge of fundamental research and a keen sense of how to appraise conviction among equity research analysts. Hiten also previously worked in Africa with the United Nations, the World Bank, as well as other organizations on matters of Financial Sector Development. He has a Masters in Financial Economics and a Masters of Physics degree.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Switzerland, Germany, Denmark, Spain, Finland, France, United Kingdom, Guernsey, Hong Kong, Ireland, Iceland, Italy, Jersey, Luxembourg, Macau, Malta, Netherlands, Norway, Offshore, Oman, Qatar, Sweden
Fidelity European Value A Acc EUR
Initial charge5.25%
Annual charge1.5%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.95%
Total expense ratio (TER)1.94%
Bid price-
Offer price-
Mid price17.32
CurrencyEUR
Price updated19/05/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code08NC
Fidelity European Value Y Acc EUR
Initial charge5.25%
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.1%
Total expense ratio (TER)1.19%
Bid price-
Offer price-
Mid price18.09
CurrencyEUR
Price updated19/05/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code08ND
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