Fidelity European Opportunities fund name/investment policy changes
Fidelity has announced a change to the fund name and investment policy of its Fidelity European Opportunities fund (the "Fund") which will take effect 27 January 2021.
Funds available in our open-architecture products
The Fund features in our open-architecture products and will be subject to changes detailed in the Fidelity notification documents opposite.
Funds available in our defined fund range products
The Fund can be found in our defined fund range product Kudos. A summary of the changes to the fund name and investment policy are detailed in the tables below. You can view a copy of the Fidelity notification document opposite.
| Current fund name | New fund name |
|---|---|
| Fidelity European Opportunities | Fidelity Sustainable European Equity
|
| Current investment policy | Revised investment policy |
|---|---|
The Fund will invest at least 70% in the shares of continental European companies (those domiciled, incorporated or having significant business in continental Europe and those which are listed in the region).
The portfolio will be made up of a blend of larger, medium and smaller sized companies and aims to hold a concentrated portfolio of 30-50 securities.
The investment manager is not restricted in the choice of company either by size or industry, or in terms of the geographical split of the portfolio, which is largely determined by the availability of investment opportunities rather than the outlook for each market.
The Fund is actively managed without reference to a benchmark.
The Fund may also invest into other transferable securities, collective investment schemes, money market instruments, cash and deposits and is also able to use derivatives for efficient portfolio management. | The Fund will invest at least 70% in the shares of continental European companies (those domiciled, incorporated or having significant business in continental Europe and those which are listed in the region) which maintain sustainable characteristics.
Companies with sustainable characteristics are those which the investment manager believes have effective governance and management of environmental and social issues (sustainable characteristics).
The portfolio will be made up of a blend of larger, medium and smaller sized companies and aims to hold a concentrated portfolio of 35-50 securities.
The Fund is actively managed without reference to a benchmark.
The investment manager is not restricted in the choice of company either by size or industry, or in terms of the geographical split of the portfolio, which is largely determined by the availability of investment opportunities rather than the outlook for each market.
The Fund may also invest in continental European companies which demonstrate improving sustainable characteristics and may also invest in other transferable securities, collective investment schemes, money market instruments, cash and deposits and is also able to use derivatives for efficient portfolio management.
The investment manager will assess companies using quantitative and qualitative factors and in doing so may use data from proprietary models, local intelligence, undertake company visits and use data provided by external ESG (Environmental, Social and Governance) score providers to form an assessment of their sustainable characteristics.
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