Hardman & Co research - FEV: follow the money

RNS Number : 4858M
Fidelity European Trust PLC
21 September 2021
 

Hardman & Co Research (Initiation of coverage)   FEV: follow the money

Over five years, Fidelity European Trust (FEV) has outperformed UK markets, UK listed competition and European benchmarks. It "follows the money" using detailed research, leveraging Fidelity's global capabilities, to identify mis-priced strong, growing dividends. Over 10 years, Fidelity's stock selection has added ca.2% p.a. to returns. Around two thirds of portfolio company revenue is non-European. FEV invests for the long term and in quality businesses with downside protection, but it can face short-term headwinds and have above-market volatility. FEV's assets are listed and liquid, but its shares trade at a 7% discount to NAV.

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