Fidelity Fds - Europ. Growth: Qual. Rating Issued

Despite a manager change in 2007 and subsequent significant outflows suffered by the fund, we have confidence in its ability to add value in the long term.

Javier Sáenz de Cenzano, CFA 9 March, 2009 | 11:17AM
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We have published a new Morningstar Qualitative Rating and Research Report for Fidelity Funds - European Growth.

"Alexander Scurlock took the reins of this fund in 2007 after previous manager Graham Clapp's departure. Since taking over, Scurlock has significantly pared back the number of holdings, partially because he's focused more on large caps than his predecessor, who had included more mid-cap positions in the portfolio. However, even though Scurlock is fond of large stocks at the moment, his investment style is generally quite flexible, so investors here shouldn't assume this fund will always maintain a large-cap bias. Scurlock could increase holdings again if small and

mid caps become more interesting to him . . ."

Click here to access the opinion. The full four-page pdf report can be accessed here. Both are free to users of Morningstar.co.uk.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Fidelity European Growth A-Dis-EUR19.80 EUR-0.01Rating

About Author

Javier Sáenz de Cenzano, CFA

Javier Sáenz de Cenzano, CFA  Director de Análisis de Fondos para Morningstar en España y en Italia

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