Fidelity's Morse slashes exposure to European dividend cutters
Trust hit with 20% cut in payouts
Sam Morse of Fidelity International
Sam Morse reduced exposure to companies forced into cutting their dividends due to the coronavirus crisis as his Fidelity European Values Trust (FEV) suffered a 20% cumulative cut in payouts.
Morse told Investment Week the majority of the £1.1bn trust's holdings had weathered the Covid-19 pandemic well, leading to outperformance in the year to date. FEV is up 6.3% to 9 October compared to...
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