14th Mar 2016 11:28
LONDON (Alliance News) - Fidelity European Values PLC on Monday said it outperformed its benchmark in 2015, on the back of a boost to European stocks provided by the European Central Bank's accommodative monetary policy stance and lower energy prices.
The trust said its net asset value per share total return for the year to the end of December was 6.9%, compared with a 5.3% rise for its benchmark, the FTSE World Europe (Ex-UK) Index.
European equities rose in sterling terms over the year, the fund said, driven by increasing evidence of a recovery in European economies. It said markets rose as the European Central Bank announced a bond buying stimulus programme, with sentiment also supported by the US Federal Reserve's small interest rate increase, but said gains were partially reversed due to concerns about China's slowdown and its potential impact on the global economy.
Elsewhere Fidelity European Values said Humphrey van der Klugt will be resigning as chairman on May 12, at the conclusion of the annual general meeting. Vivian Bazalgette, a director at the fund, will take over the role from that date.
Fidelity European Values shares were up 0.6% to 165.21 pence on Monday.
By Hannah Boland; [email protected]; @Hannaheboland
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