Stat Watch: Fidelity European

The £4.3bn Fidelity European fund has suffered significantly over the past three months in part from...

The £4.3bn Fidelity European fund has suffered significantly over the past three months in part from lack of exposure to the banking sector, pulling the fund into the realms of the bottom quartile of the Europe ex UK sector. The vehicle, managed by Tim McCarron, is a top quartile performers in the IMA Europe ex UK sector over the five and three years to 3 April, based on bid to bid returns according to S&P. However, over the past year McCarron admits the fund has fallen off, returning 36.5% marginally below the 37% sector average and ranking it 41 out of 93 funds. Over three months the do...