RCS - Fidelity European - Edison research update on Fidelity European Values
19/05/2015 14:44
RNS Number : 6656N Fidelity European Values PLC 19 May 2015 London, UK, 19 May 2015 Edison issues research update on Fidelity European Values Fidelity European Values (FEV) is an actively managed closed-end fund with a focus on continental Europe. The manager aims to achieve long-term growth through investing in a diversified portfolio of companies able to grow dividends consistently over a three- to five-year time horizon. NAV total return performance has been ahead of the FTSE World Europe ex-UK index benchmark over one, three, five and 10 years. With market valuations implying improving earnings growth, the manager highlights increasing confidence in the European corporate earnings outlook, seeing above-average earnings and dividend growth prospects in the near term. Although the European market rally over the last seven months has pushed the forward P/E multiple to a 10-year high, the current 15.9x multiple represents only a 2% premium to world markets and stands at a 9% discount to the US market. European earnings growth is expected to outpace the US significantly in 2015 with consensus forecast EPS growth of 34% for the FTSE World Europe ex-UK index compared with 5% for the FTSE USA index. Contributing to this, and potentially offering the hope of positive earnings surprises for the current year and beyond, have been recent currency and oil price weakness. In addition, quantitative easing by the ECB has the potential to support current valuation levels. For the full report see: http://www.rns-pdf.londonstockexchange.com/rns/6656N_-2015-5-19.pdf All reports published by Edison are available to download free of charge from its website. www.edisoninvestmentresearch.com About Edison:Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals works with leading companies, fund managers and investment banks worldwide to support its capital markets activity. We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. Contact details:Learn more atwww.edisongroup.com and connect with Edison on:
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