Introducing the Investment Manager
Sam assumed responsibilty for the management of the Fidelity European Fund in 2010 and the Fidelity European Values Fund in 2011. Prior to becoming a portfolio manager, Sam spent two years as a research analyst with Fidelity, covering a range of sectors, then six years as an equity income fund manager at Fidelity. He was also previously Head of Equities at M&G from 1997 to 2003.Fidelity International
The fund intends to invest at least 80% in the equity securities of European companies defined as those which are domiciled, incorporated or have a significant exposure to Europe, excluding the United Kingdom. The fund will invest primarily in industry-leading companies delivering reliable earning streams. Exposure to established larger companies will be greater than 50% of the fund. Large companies are defined as those with a market cap of EUR 20 billion or more at the time of the fund’s investment. Companies whose capitalisation no longer meets this definition after investment will continue to be considered large market capitalisation companies.
The fund may also invest in other transferable securities (for example, equity securities of other international companies), units in collective investment schemes (including schemes managed and operated by the ACD or its associates), money market instruments, warrants, cash, near cash and deposits as detailed in the Prospectus.
It is envisaged that the investment portfolio of the fund will be concentrated, typically comprising between 40 and 60 holdings.
Derivatives may be used for the purposes of hedging and efficient portfolio management.