FIDELITY EUROPEAN TRUST PLC ORD GBP0.025
Symbol: FEV
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Invest in this share within an ISA, JISA, SIPP or Investment Account
Past Performance
- 26th Apr 2019 to 26th Apr 20200.14%
- 26th Apr 2020 to 26th Apr 202135.31%
- 26th Apr 2021 to 26th Apr 20222.90%
- 26th Apr 2022 to 26th Apr 202322.77%
- 26th Apr 2023 to 26th Apr 20249.81%
Key Information
| Benchmark | FTSE World Europe ex UK |
| Sector | IT Europe |
| Gearing | 112% |
| Ex-Dividend Date | 28 Mar 2024 |
| Dividend Pay Date | 14 May 2024 |
| Total Dividends - Year to Date | 8.25 |
| Dividend Yield (%) | 2.1484 |
Net Asset Value (Nav)
| Latest actual NAV | 408.07 |
| Latest actual NAV date | 24/04/2024 |
| NAV frequency | Daily |
| Premium/Discount | -5.9% |
Charges
|
Total Ongoing Charges
Please note that whilst we endeavour to show all charges associated with specific funds, sometimes this is not possible due to the information not being made available by the fund provider. In such cases transaction or incidental cost information may be missing. |
0.8582% |
| Performance Fee | No |
| AMC | 0.71% |
|
Our Platform Charge
We charge a platform fee of 0.35% per annum on the value of all stocks & shares held across all accounts, minimum £24 and maximum £240 per annum, charged pro-rata monthly in arrears. A full list of our rates and charges can be found here . |
0.35% |
Cost and Charges Information
This calculator provides you with costs and charges information regarding our charges and, where relevant, the costs within this investment product
Account Type
Annual charges
These are the annual costs based on an initial investment amount of over 1 year assuming a net zero growth rate
| Cost Category | % of Investment | lump sum costs |
|---|---|---|
Our annual fee
Our annual feeIncludes our platform fee at 0.35% per annum for Funds (up to £250,000) and Stocks & Shares (min £24 max £240), plus SIPP administration fee (if applicable, only charged if <£30,000 held) - see here |
0.35% | |
Dealing charges
Dealing chargesAny one-off commission charges associated with investing. Note that government taxes and levies are not included |
N/A | |
Product provider costs
Product provider costsProduct provider costs shown are inclusive of the fund ongoing charges figure (OCF), transaction costs and incidental costs |
0.8582% | |
Total (£)
Total (£)Costs per annum displayed in monetary value |
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Total (%)
Total (%)Costs per annum displayed as a percentage of investment value |
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Cumulative effect of charges on your investment's return
This illustration assumes that costs occur evenly throughout the year, charges are paid out of the investment evenly throughout the year, and that an annual growth rate of applies evenly throughout the year, before any charges including product charges
| lump sum invested with an assumed growth rate of | 1 year | years |
|---|---|---|
What you might get back at with no charges applied
What you might get back at with no charges appliedThese are the illustrative values of a investment after growth and no costs applied at the end of the defined period |
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Annual charges
Annual chargesThese are the annual costs based on an initial investment amount of assuming a net zero growth rate |
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Effect of charges on return (%)
Effect of charges on return (%)These are the overall costs in percentage terms, based on an initial investment amount of assuming a growth rate |
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Effect of charges on return (£)
Effect of charges on return (£)These are the overall costs in monetary value, based on an initial investment amount of assuming a growth rate |
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What you might get back at with charges applied
What you might get back at with charges appliedThese are the illustrative values of a investment after growth and costs at the end of the defined period |
This illustration is not a forecast of future investment performance but merely a means to demonstrate the potential impact of costs and charges for an assumed return of . Whilst we make reasonable endeavours to ensure the accuracy of third party charges information, this is intended for illustrative purposes only and should not be relied upon. We do not warrant or represent that this information is accurate, complete or up to date, therefore we accept no responsibility or liability for its use
Company
Business Summary
Fidelity European Trust PLC is a United Kingdom-based investment trust. The Company’s objective is to achieve long term growth in both capital and income by predominantly investing in equities (and their related securities) of continental European companies. The Company invests predominantly in continental European equities (and their related securities) and up to 20% of gross assets may be invested in companies outside of the continent. It invests in various sectors, such as financials, industrials, health care, consumer discretionary, technology, consumer staples, energy, basic materials, utilities, telecommunications and real estate. It also invests in other transferable securities, investment companies, money market instruments, cash and deposits. It is also able to use derivatives: for efficient portfolio management in order to gain additional market exposure (gearing) and for investment purposes. Its investment manager is FIL Investments International.
Financial Summary
BRIEF: For the fiscal year ended 31 December 2023, Fidelity European Trust PLC revenues increased from -£43.2M to £262.1M. Net income totaled £238.7M vs. loss of £57M. Revenues reflect (Losses)/gains on investments increase from -£63.8M to £165.9M, Gains/(losses) on derivative instruments increase from -£22M to £50.4M, Overseas Dividends increase of 6% to £37.5M. Net Income reflects Directors fees decrease of 3% to £169K (expense).
Performance
Cumulative Performance
| 1 month | 3 months | 6 months | 1 year | 3 years | 5 years |
| -0.16% | 10.79% | 23.06% | 9.81% | 38.73% | 87.98% |
Important Information
Headline performance can mask the true characteristics of a fund. Without fully understanding how a fund is managed, you may inadvertently become exposed to an undesirable level of risk to your capital. Some funds carry a dilution levy which reduces the number of units realised on any initial investment as an initial charge. If this fund carries such a levy it should be detailed in the Key Investor Information Document (KIID), which we must provide and you should read before investing.
The charts and performance data shown are supplied by an external data provider and may contain data that appears to precede the introduction of the clean unit class for this fund. In such cases, historical data has been synthesised at the entire discretion of that external provider as realistically as possible using historical data recorded against the previously available commission-paying version of the fund, adjusting for fees in the process.
Composition
View Fund Allocation by:
Important Documents
The documents listed below are the latest versions made available to our data provider by the fund management group, but may not necessarily reflect the applicable charges that would be levied should you purchase this fund via Charles Stanley Direct. You should treat the charges and other figures shown in the 'Overview' tab as accurate.
The Fact Sheet is supplied on a monthly basis by the management group and provides limited information on the fund. Past performance data and a review of how the fund has performed are commonly featured.
237,725 bytes PDF Document; last updated 29 Feb 2024
174,523 bytes PDF Document; last updated 16 Feb 2024
3,797,094 bytes PDF Document; last updated 31 Dec 2023
1,081,633 bytes PDF Document; last updated 30 Jun 2023
Management Team
Samuel Morse Marcel Stotzel
Samuel Morse
has managed this fund for 13 years and 3 months.
Portfolio Manager Sam Morse joined Fidelity in 1990 as a Research Analyst covering pan-European retail sectors and US furniture and carpet sectors. In 1994 he became Portfolio Manager, managing several retail UK equity funds and mandates. In 1997 Sam joined M&G as Head of UK Equities. During his time at M&G, Sam was responsible for a number of retail UK Equity funds including the M&G UK Growth Fund. In June 2004, Sam re-joined Fidelity as Head of the Institutional UK Equity Team. This role incorporated developing UK equity solutions for institutional clients as well as managing UK equity portfolios. From December 2009 Sam has managed the FIF European Fund. He also took over the responsibility for managing European Values PLC from January 2011. The importance of larger cap stocks to his alpha generation, and his low fund turnover, make Sam especially suitable for managing larger mandates, due to high fund capacity. Prior to joining Fidelity, Sam spent two years working for Hoare Govett in their Far East Equity Sales team. He has an M.B.A from INSEAD, France, as well as a BA from the University of North Carolina
Manager Cumulative Performance v Peer Group
Marcel Stotzel
has managed this fund for 3 years and 7 months.
Marcel joined Fidelity as an analyst in 2014. He initially covered US tech as an MBA intern, before being hired full-time to cover European Software and IT services and thereafter European Aerospace, Defence and Airlines. After a highly rated period in research, Marcel was promoted to Portfolio Manager and he has co-managed the Fidelity European Fund and Fidelity European Trust PLC since August 2020.Prior to joining Fidelity, Marcel worked as an investment banker at Barclays. Marcel holds an MBA (INSEAD), is a CFA charter holder and graduated with a Business Science (Hons) in Finance from the University of Cape Town.
Manager Cumulative Performance v Peer Group
Financials
Income Statement - All values are in GBP (M).
|
Year Ending |
31/12/2023 |
31/12/2022 |
31/12/2021 |
31/12/2020 |
31/12/2019 |
31/12/2018 |
|---|---|---|---|---|---|---|
| Total Revenue | 262.10 | -43.18 | 297.09 | 117.81 | 235.86 | -37.27 |
| Gross profit | 245.04 | -53.61 | 286.57 | 108.48 | 226.95 | -45.86 |
| Operating Profit/Loss | 242.08 | -54.33 | 285.89 | 107.71 | 225.51 | -48.03 |
| Profit Before Tax | 242.08 | -54.33 | 285.89 | 107.71 | 225.51 | -48.03 |
| Profit After Tax | 238.69 | -56.97 | 282.34 | 106.39 | 223.36 | -49.73 |
| Equity Holders of Parent Company | 238.69 | -56.97 | 282.34 | 106.39 | 223.36 | -49.73 |
| Minority Interest | NIL | NIL | NIL | NIL | NIL | NIL |
Balance Sheet - All values are in GBP (M).
|
Year Ending |
31/12/2023 |
31/12/2022 |
31/12/2021 |
31/12/2020 |
31/12/2019 |
31/12/2018 |
|---|---|---|---|---|---|---|
| Total Non-Current Assets | 1,518.88 | 1,325.39 | 1,448.00 | 1,200.66 | 1,108.70 | 938.83 |
| Total Current Assets | 73.52 | 66.42 | 27.30 | 20.98 | 33.23 | 19.35 |
| Total Assets | 1,592.40 | 1,391.81 | 1,475.29 | 1,221.64 | 1,141.93 | 958.18 |
| Total Liabilities | 4.92 | 10.82 | 1.06 | 1.36 | 1.37 | 2.86 |
| Total Net Assets | 1,587.48 | 1,381.00 | 1,474.23 | 1,220.29 | 1,140.56 | 955.31 |
| Shareholders Funds | 1,587.48 | 1,381.00 | 1,474.23 | 1,220.29 | 1,140.56 | 955.31 |
| Minority Interests | NIL | NIL | NIL | NIL | NIL | NIL |
| Total Equity | 1,587.48 | 1,381.00 | 1,474.23 | 1,220.29 | 1,140.56 | 955.31 |