16th Mar 2015 09:54
LONDON (Alliance News) - Fidelity European Values PLC on Monday said it outperformed its benchmark in 2014, on the back of a boost to European stocks provided by the European Central Bank's quantitative easing plans.
The trust said its net asset value per share total return for the year to the end of December was 5.1%, compared with a 0.2% rise for its benchmark, the FTSE World Europe (Ex-UK) Index.
European equities were flat in sterling terms in the year, the fund said, but continental European stock markets gained in local currency terms due to the European Central Bank's announcement of a series of monetary easing measures. It added sentiment in the market was also supported by increased confidence in the US recovery and indications that the Federal Reserve will be "patient" in hiking interest rates.
Fidelity European Values shares were up 1.4% to 176.017 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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