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Fund name
Aberdeen American Growth  
Fidelity American  
Schroder UK Mid 250  
M&G Recovery  
Jupiter Merlin UK Growth  
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Contact details

ManagerGroupLogo
Oakhill House, 130 Tonbridge Road, Hildenborough, Tonbridge, Kent, TN11 9DZ
0800 783 9646 (Fax Number)
0800 41 41 61 (Investor Helpline)
44 1737 83 8000 (Main Number)

info@fidelity.co.uk

Fund managers

* Samuel Morse01-Dec-2009 to Present
 
view    
Timothy McCarron»02-Jan-2003 to 30-Nov-2009
Anthony Bolton»04-Nov-1985 to 31-Dec-2002


Investment objectives

The fund aims to provide long-term capital growth. It invests primarily in the shares of continental European companies. The portfolio is likely to have a bias towards medium-sized and smaller companies and has the freedom to invest outside the fund’s principal geographies, market sectors, industries or asset classes. It 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.

Key Information

Fund vs sector

  1y 3y
Position 56 / 101 59 / 94
Quartile 3 3

Fund ratings

BronzeMstar OBSR
Analyst
(Qualitative)
FE Crown Rating: 3 FE Crown Rating
(Quantitative)

Ratios

  1y 3y
Volatility 9.59 9.59
Alpha -0.96 -0.96
Beta 0.83 0.83
Sharpe 0.26 0.26
Info Ratio -0.57 -0.57
R2 0.86 0.86
Quartiles:   1  2  3  4   help with ratios
vs. Europe Excluding UK»
performance chart
chart
    1y3y5y12m-24m24m-36m36m-48m48m-60m
ACC +6.7+50.3+49.4+18.2+19.3-7.4+7.4
  EUROPE EXCLUDING UK   +8.2+55.0+47.9+24.1+15.4-8.5+4.4
Clean share class
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf FIDELITY EUROPEAN Y ACC ACC 1404.00 (p) 16-Sep-2014 n/a 1.18% G7FD B7XPWY8
pdf FIDELITY EUROPEAN W INC INC 1235.00 (p) 16-Sep-2014 n/a 0.96% GMTV B7VNK95
pdf FIDELITY EUROPEAN W ACC ACC 1055.00 (p) 16-Sep-2014 n/a 1.00% JTXX BFRT350
Other share classes
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf FIDELITY EUROPEAN ACC ACC 1571.00 (p) 16-Sep-2014 n/a 1.71% FI80 0387479
pdf FIDELITY EUROPEAN INC INC 138.90 (p) 16-Sep-2014 n/a 1.71% KEJ9 B65GJ96

The Ongoing Charges Figure (OCF) shows the drag on performance caused by operational expenses associated with a fund.

Expenses which are represented by this figure include payments to the manager, the trustee the custodian and their representatives. The figure also includes registration, regulatory, audit and legal fees, and the costs of distribution.

Performance fees, transaction costs, interest on borrowing, costs associated with derivatives, entry and exit fees and soft commissions are not included in the OCF calculation, and should be factored in separately by the investor.

The OCF is calculated by taking the sum of these expenses incurred in the last 12 months and dividing this by the average net assets of that class for the last 12 months.

Total Expense Ratio (TER) is a formula designed to show the ongoing costs to the investor associated with a fund, including some charges which are not factored into the annual management fee. In addition the fund’s annual fee, charges such as trading fees, audit and legal fees, and operational expenses are included in the TER, which is worked out by dividing the total cost of the fund by its total assets to arrive at a percentage.

Unlike the Ongoing Charges Figure, the TER takes into account performance fees. It does not include transaction costs paid to the custodian.

Detailed fund information
Fund type flag UK Open Ended Investment Company (OEIC)
Own ISA wrapper Fund has ISA Wrapper help with ratios Fund size£2,420.0m / $3,927.4m (31-Aug-14)
Savings plan Fund has Savings Plan Minimum: GBX 50.0 Monthly Launch04-Nov-1985
Pricing times12:00 Daily Dealing frequencySeven days per week
Dealing timesMon-Fri 09:00 to 18:00
Minimum initialGBX 1,000
Minimum additionalGBX 250
Initial charge1.00%
Annual management charge1.50%
Note to chargesInitial Charges: max.;
Trustee / DepositaryJP Morgan Trustee and Depositary Company Ltd
RegistrarFidelity Investment Services Limited
Multi-Managern/a
Indexn/a
Dividend policyMar 01, Sep 01 (Final)
Peer groups
Region Asset Class Investment Focus Sector
Europe Ex UK Equity Mixed Europe Excluding UK
Largest holdings, 31-Aug-2014
Holding (%) Rank Fund factsheet Equity factsheet
NESTLE SA 5.80 1 - -
ROCHE HOLDING LTD 4.70 2 - -
SANOFI 4.50 3 - -
NOVO-NORDISK AS 3.90 4 - -
TOTAL SA 3.50 5 - *
SAP AG 3.40 6 - -
ANHEUSER BUSCH INBEV SA NV 3.20 7 - -
BNP PARIBAS 3.10 8 - -
UBS AG 3.10 9 - -
SAMPO OYJ 2.50 10 - -
Total37.70 
Regional weightings, 31-Aug-2014
Region(%)Rank 
France25.501 25.50% France
Switzerland19.302 19.30% Switzerland
Germany14.203 14.20% Germany
Belgium7.604 7.60% Belgium
Norway5.905 5.90% Norway
Other Countries5.906 5.90% Other Countries
Finland5.107 5.10% Finland
Denmark5.108 5.10% Denmark
UK4.909 4.90% UK
Spain3.1010 3.10% Spain
Sweden3.1011 3.10% Sweden
Uninvested cash0.3012 0.30% Uninvested cash
Total100.00 
Sector weightings, 31-Aug-2014
Sector(%)Rank 
Financials22.101 22.10% Financials
Health Care16.002 16.00% Health Care
Consumer Discretionary13.403 13.40% Consumer Discretionary
Industrials12.304 12.30% Industrials
Consumer Staples11.405 11.40% Consumer Staples
Energy7.306 7.30% Energy
Information Technology5.407 5.40% Information Technology
Materials4.708 4.70% Materials
Utilities4.209 4.20% Utilities
Telecommunication Services2.9010 2.90% Telecommunication Services
Uninvested cash0.3011 0.30% Uninvested cash
Total100.00 

All prices in Pence Sterling (GBX) unless otherwise specified. Price total return performance figures are calculated on a bid price to bid price basis (mid to mid for OEICs) with net income (dividends) reinvested. Performance figures are shown in Sterling unless otherwise specified.

 
 
 
 
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John Streeter Jul 08th, 2013 at 09:15 AM

This fund is still significantly under-performing - it has been a steep slide for nearly 2 years - although a high risk area requiring some nerve to hang-in, my losses are a considerable proportion of my investment- with no improvements in sight.

Reply
lash Jul 25th, 2011 at 09:43 AM

IT IS NOT ENOUGH TO SAY THAT GOLD MINING SHARES ARE UNDERPERFORMING THE GOLD PRICE. WHY IS IT SO, UNLESS THE EARLIER BALANCE SHEETS HAD BEEN PADDED UP FOR SOME REASON.DESPITE THE PRICE BEING 1620 I STILL HAVE LOSSES ON MY PURCHASE MADE IN JANUARY

Reply
Lookout Jul 07th, 2011 at 08:27 AM

Gold mining shares generally are under-performing the gold price. Hang in and there should be a catch up in time. Gold also clearly has some way to run, or rather the major currencies are certainly going to lose value.

Reply
Decent MofP Feb 26th, 2010 at 10:56 AM

in spite of the 'gold hype', this fund has certainly let me down. Could it be that statistics are perhaps not quite as correct as the managers would 'swear on the bible' that they are?

Reply
 

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Asset allocation

French Equities, 25.50%
25.5000% ofFrench Equities
Swiss Equities, 19.30%
19.3000% ofSwiss Equities
German Equities, 14.20%
14.2000% ofGerman Equities
Belgian Equities, 7.60%
7.6000% ofBelgian Equities
International Equities, 5.90%
5.9000% ofInternational Equities
Norwegian Equities, 5.90%
5.9000% ofNorwegian Equities
Danish Equities, 5.10%
5.1000% ofDanish Equities
Finnish Equities, 5.10%
5.1000% ofFinnish Equities
UK Equities, 4.90%
4.9000% ofUK Equities
Swedish Equities, 3.10%
3.1000% ofSwedish Equities
Spanish Equities, 3.10%
3.1000% ofSpanish Equities
Money Market, 0.30%
0.3000% ofMoney Market

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