| Fund Company | Fidelity Investments Canada |
| Fund Type | European Equity |
| Rating | $$$ |
| Style | Blend |
| Risk Level | Medium High |
| Load Status | Optional |
| RRSP/RRIF Suitability | Fair |
| TFSA Suitability | Fair |
| Manager | Parus Shah since October 2008 |
| MER | 2.38% Front End, 2.61% DSC |
| Code | FID 228 – Front End Units FID 428 – DSC Units |
| Minimum Investment | $500 |
Analysis: Similar to the CIBC European Equity Fund, this offering can invest in companies of any size and looks for those that offer strong growth potential and high quality management teams. It tends to be fairly well diversified and will hold around 50 companies. The managers continue to avoid investing in companies located in the current trouble spots of Greece, Spain and Portugal, with biggest holdings in the UK, Germany and France.
It employs a very active management style with high levels of portfolio turnover. Perhaps as a result, it is also one of the most volatile European funds that we follow. It is likely to provide the most upside in a market rally, but will also be hit the hardest when markets fall. Year to date, the fund has had a great run, gaining 16.9%, outpacing the MSCI Europe Index by 9.3%. This is a good pick for those with a higher risk tolerance