How to invest in the lure of luxury goods

Sam Morse of the Fidelity European Values Fund PLC selects three of his favourite luxury-goods shares.

A professional investor tells us where he'd put his money. This week: Sam Morse of the Fidelity European Values Fund PLC selects three favourites.

While continental European equity markets performed well in the first half of 2019, volatility over the summer has shown that few of the issues previously troubling markets have been resolved. Trade threats rumble on and political uncertainty remains high with Brexit negotiations at an impasse. Investors have welcomed central banks' shift towards monetary easing, but there is a risk that it could fail to kick-start global economic and corporate earnings growth.

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Sam Morse

Sam Morse is a portfolio manager of Fidelity European Values.He joined Fidelity in 1990 as a research analyst and four years later he progressed as a portfolio manager in 1994, where he was responsible for running several retail UK equity funds and mandates. In 1997 Sam joined M&G as Head of UK Equities and one fund he ran in particular was the M&G UK Growth Fund. Sam then went back to Fidelity in 2004 as Head of the Institutional UK Equity Team, and his role consisted of developing UK equity solutions for institutional clients and managing UK equity portfolios. Since 2009 to present, Sam continues to manage the Fidelity European Fund and Fidelity European Trust PLC since 2011.