Following the news that fund manager Colin Stone is to pass the management of this fund to Alberto Chiandetti in October 2014, we have placed the Fidelity European Opportunities fund Under Review. The fund previously held a Morningstar OBSR Analyst Rating™ of Silver. Mr Chiandetti currently manages the Fidelity Funds Italy fund and the Fidelity Funds Switzerland fund, which hold Morningstar ratings of Silver and Neutral, respectively. Having managed the Italy fund since 2008, Mr Chiandetti has a reasonable level of portfolio management experience and has shown some performance success with this single country fund, but he has not previously managed a broader European product. Under the new manager, the investment style of the European Opportunities fund is expected to change, becoming unconstrained and more concentrated. We will be meeting the new manager in due course to assess his process and its impact on this fund.
See the latest Morningstar OBSR fund rating news here.
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