fidelity funds performance - Chartbook.fid-intl.com

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42FIDELITY FUNDSEUROPEAN FUND – A-ACC-EURcb.eu.201101.2787.pro.pdf31 JANUARY 2011FUND APPROACH AND STYLEOBJECTIVEThe fund aims to achieve long-term growth through investment in a blend ofportfolios that primarily invest in equity securities of European companies.PORTFOLIO CHARACTERISTICSBenchmarked against the MSCI Europe Index, the fund invests in acombination of selected European equity managers that mirrors Fidelity’sLuxembourg range of European funds. Stock selection is carried out at a locallevel by regional and specialist Fidelity fund managers, giving investorsas at 31.01.11access to many of Fidelity’s most experienced investment professionals. Theportfolio will typically hold several hundred stocks at any one time. This fund is denominated ineuros.INVESTMENT STYLEThe investment approach is to capture the stock-picking skills of a range of Fidelity managers.Through diversification, this minimises style risk in the portfolio. The process draws on the multimanagerteam’s quantitative and qualitative analysis of the European universe of single equitymanagers. The multi-manager combination selected is the one that generates appropriate levels ofrisk and characteristics to meet that fund’s specific performance objectives. The process is consistentacross the multi-manager team globally. There are regular reviews within the team to discussmanagers, as well as formal fund reviews to discuss the drivers of portfolio performance.FUND FACTSFund manager:Rita GrewalLocation:LondonAppointed to fund:12.12.05Years at Fidelity:16Launch date:09.12.05Currency:EuroNAV price:€ 9.9412mnth NAV high:€ 10.2812mnth NAV low:€ 8.06Fund size:€ 182mBenchmark index:MSCI Europe Index (NetLuxembourg tax)ISIN code:LU0238202427WK-Nummer:A0H0V4PERFORMANCE YEAR BY YEAR17.1%19.6%5.2%2.7%29.0%31.6%16.0%11.1%■ Fund■ Index-47.1%-43.7%06 07 08 09 10PERFORMANCE IN FUND CURRENCYSince1 mnth YTD 1 yr 3 yrs 5 yrs 10 yrs 12.12.05Fund cumulative growth 0.4% 0.4% 18.8% -10.1% -7.1% - -0.7%Index cumulative growth 1.7% 1.7% 16.3% -5.3% -0.5% - 4.0%Fund annualised growth - - 18.8% -3.5% -1.5% - -0.1%Index annualised growth - - 16.3% -1.8% -0.1% - 0.8%Value of €2,000 invested - 2,009 2,377 1,798 1,859 - 1,987PERFORMANCE SINCE 12.12.05140%120%100%Ranking within Morningstar GIF Europe Large Cap Blend Equity80%Position of fund 189 189 54 141 83 - 75Total number of funds 304 304 281 207 158 - 157Quartile ranking 3 3 1 3 3 - 260%12-0506-0612-0606-0712-0706-0812-0806-0912-0906-1012-10■ Fund■ Index42
PxFcb.eu.201101.2787_B.pro.pdf31 MAY 2010INDUSTRY BREAKDOWNas at 31.01.11 % TNA Deviation from index(as at 31.12.10 in brackets)FinancialsConsumer Discretionary 20.7% 16.5%(18.7%)(16.8%)-1-1.8%%8 % 8.0%Industrials 12.7% (13.2%) 1 % 1.4%Energy 11.3% (10.3%) 0 % 0.0%Materials 11.0% (12.5%) 0 % 0.7%Health Care 9.6% 9.6% (9.5%) 0 % 0.2%Consumer Staples 6.5% 6.5% (7.4%) -5-5.1%%Information Technology 5.8% 5.8% (5.7%) 2 % 2.7%Other 5.2% 5.2% (5.0%) -6-6.9%%Cash 0.8% 0.8% (0.9%) 0 % 0.8%Where derivative instruments are held they are shown as a component of the category labelled “other”. Any exposure to sector remains in“other” and is therefore not represented in the rest of the categories.GEOGRAPHIC BREAKDOWNas at 31.01.11 % TNA Deviation from index(as at 31.12.10 in brackets)United KingdomGermany38.5% 15.1% (38.9%)(15.9%)5 % 5.7%2 % 2.1%France 14.0% (12.9%) -1-1.3%%Switzerland 7.2% (7.2%) -4-4.9%%Italy 4.7% (4.1%) 0 % 0.3%Netherlands 3.9% (3.6%) 0 % 0.0%Denmark 2.8% 2.8% (2.9%) 1 % 1.3%USA 2.1% 2.1% 2 % 2.1%Other 11.1% (11.3%) -5-5.8%%Cash 0.8% 0.8% (0.9%) 0 % 0.8%Where derivative instruments are held they are shown as a component of the category labelled “other”. Any exposure to geographyremains in “other” and is therefore not represented in the rest of the categories.TOP SECURITY HOLDINGSas at 31.01.11% TNANOVO-NORDISK B 2.0%SANOFI-AVENTIS 1.8%HSBC HOLDINGS (UK REG) 1.8%VODAFONE GROUP 1.8%PPR 1.7%BRITISH AMERICAN TOBACCO 1.7%SIEMENS 1.7%BARCLAYS 1.6%UBS (REGD) 1.6%ROYAL DUTCH SHELL A (NL) 1.5%Top security holdings are those securities in which the largest percentage of the fund’stotal assets are invested. Holdings in different securities issued by the same companyare listed separately and any exposure achieved by derivatives is not shown. Thismeans that the data may not always represent the total exposure of the portfolio to anygiven company. A full list of holdings, including derivatives, can be found in the fund’sannual and/or semi-annual report and accounts.RATINGSS&P Fund RatingsFERI ratingA(B)VOLATILITY AND RISKRisk/return rating: (Equity funds)Tracking error6.00Relative volatility: 1.04Sharpe ratio: -0.17Alpha: -0.13Beta: 1.01R 2 : 0.95Tracking error: 4.86This rating gives an indication of the risk level of Cash (A1-A2), Bond (B1-B3) and Equity (E1-E5) funds only in relation to Fidelity’s range of funds within each asset class. A higher numbersignifies a higher risk fund. They are intended only as a guide and are based on our quarterlyrating review process which uses information about a fund manager’s investment approach, aswell as quantitative measures based on the fund’s historic performance and its currentholdings.4.0012-0806-0912-0906-1012-10The chart above shows the tracking error of the fund against itsbenchmark. The calculation uses rolling three year periods. The chartshows a maximum of 36 monthy data points, starting no earlier thanthree yrs after the fund’s performance start date.hidefshhidefshHIDECXX43
Page 1 and 2: INTERNATIONAL VERSION 31 JANUARY 20
Page 3 and 4: CONTENTSThis chartbook is intended
Page 5 and 6: AS AT 31.12.10JAPANThe second round
Page 7 and 8: Except for the above list, benchmar
Page 9 and 10: FIXED INCOME FUND CHARACTERISTICSS&
Page 11 and 12: FUND NAMEFUND APPROACH AND STYLEA s
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223FIDELITY FUNDS IIEURO CURRENCY F
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AWARDS FOR RESEARCH AND PERFORMANCE
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