11th Mar 2014 07:47
LONDON (Alliance News) - Fidelity European Values PLC late Monday said it underperformed its benchmark in 2013.
Net asset value per share of the company returned 20.0%, but underperformed its benchmark, the FTSE World Europe (ex UK) Index, which returned 25.2%.
"While absolute performance remained healthy, relative performance reflected a number of stock-specific disappointments but also an environment in which some of the companies and regions that had previously been challenged, often for good reason, became some of the best performers. These included lower-quality companies that did not meet the manager's investment criteria of solid balance sheets and growing dividends," Chairman Humphrey van der Klugt said in a statement.
Fidelity European Values shares Monday closed up 0.5% at 1,503.00 pence.
By Samuel Agini; [email protected]; @samuelagini
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Fidelity European Values