Fidelity's McQuaker makes 'controversial' increase to European equities

Took over range in January

Fidelity multi-asset manager Bill McQuaker has begun adding exposure to European equities in his multi-asset Open fund range.

McQuaker (pictured) joined Fidelity this year from Henderson Global Investors and has taken over management of the five-strong Open fund range.  In a webcast for investors, the manager said he has been making the 'controversial' move into European equities at the expense of exposure to UK and US stockmarkets. His funds currently have 8.7% allocated to European stocks. "Since I took over the funds we have been adding to European equities, which is somewhat controversial. I think there is a case to be made for Europe due to the ongoing recovery; the European economy is doing nicely and ...