Company Press Release:
Fidelity Investments, the world's largest independent fund management organization, has been voted Best Fund Management Group in an annual Reuters survey of more than 270 of Europe's larger companies.
The award, which is Fidelity's third in a row, comes at a time when the company is announcing a 100 percent increase in its equity sales across the Middle East. "The Reuters award reflects the strength of our global research capabilities and the skills of our fund managers and analysts in identifying those stocks which offer the best returns for our investors - skills which Middle East investors are increasingly taking advantage of," said Sian Parry, Executive Director, International Business Development, Fidelity Investments.
"Winning the European Larger Companies survey for the third year is a great start to 2001 and boosts our efforts to expand distribution of our European equity fund range in the Middle-East," added Parry.
The annual Reuters survey, conducted by Tempest consultants, asks Finance Directors to analyze the research performance of fund managers, investment bankers and investment analysts operating in the equities sector of financial markets around the world. The survey is conducted over a three-month period and asks Company Finance Directors to rank fund management groups against eight key factors based on their investment processes.
In 2000, Fidelity Investments was voted Best Fund Management Group in 14 out of 22 annual Reuters surveys which examine regional, sector and country specific equities under the following categories: US Larger, US Mid to Smaller, Canadian, Global Emerging Markets, UK Larger, UK Smaller, European Larger, European Smaller and Hong Kong and China.
The latest survey achieved record participation of 91 percent of the total equity market value of the 350 largest quoted companies in Europe. In recent years the "Reuters Surveys" have been regarded as an industry yardstick for assessing the trends emerging in the equity markets around the world.
Fidelity offers Gulf investors the entire Fidelity Funds SICAV range of over 50 sub-funds through their network of alliance partners in the region. Fidelity has also recently announced the launch of the European Mid Cap Fund in the region. The newest addition aims to achieve long-term capital growth for investors wishing to invest in European medium-sized companies. The fund is denominated in Euro and uses the Dow Jones STOXX Total Market Mid Index as its benchmark.
Fidelity International, which trades under the name Fidelity Investments, serves the major markets of the world by providing investment products and services to individuals and institutional investors outside the US. Together with Fidelity Management and Research Co of Boston, USA, Fidelity is the largest independent fund management organization in the world, with over $1 trillion of assets under management.
© 2001 Mena Report (www.menareport.com)
