One of Aria’s core fund manager selections, Anas Chakra, has been named in the top ten European fund managers. Anas, who manages the Fidelity FAST Europe fund, has been named among an elite group who have generated the best total returns over the last five years in European equities.
In addition to achieving a top 10 performance rating, Anas Chakra has earned the prestigious Citywire AAA rating. The stellar performance of his FAST Europe fund compared to its benchmark is summarised in the following table and chart:
Cumulative Growth (to 28/2/11)
FAST Europe Fund
*4 October 2004
The Fidelity FAST Europe fund is a concentrated portfolio of high conviction ideas selected using a “bottom up” approach. The manager can use “short” derivative positions (up to 30%), additional “long” derivative positions (up to 35%) and can invest up to 30% outside of core European equity universe of the fund, both in terms of geography and asset class. He will also use derivatives for hedging to reduce volatility and enhance yield. The result is a dynamic equity fund that aims to generate superior returns to that of the MSCI Europe performance benchmark. The Fund had assets under management of €2.6 billion as of 28 February 2011.