Hardman & Co Research (Initiation of coverage) FEV: follow the money

Over five years, Fidelity European Trust (FEV) has outperformed UK markets, UK listed competition and European benchmarks. It "follows the money" using detailed research, leveraging Fidelity's global capabilities, to identify mis-priced strong, growing dividends. Over 10 years, Fidelity's stock selection has added ca.2% p.a. to returns. Around two thirds of portfolio company revenue is non-European. FEV invests for the long term and in quality businesses with downside protection, but it can face short-term headwinds and have above-market volatility. FEV's assets are listed and liquid, but its shares trade at a 7% discount to NAV.

Please click on the link below for the full report:

https://www.hardmanandco.com/research/corporate-research/fev-follow-the-money/

If you are interested in meeting the company, you can register your interest by clicking on the above link

Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.

About Hardman & Co: For the past 25 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge.  Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259.

Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies.  It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer.