- High quality European companies look attractively priced
- Fidelity European Trust has a long history of strong returns
- The trust is well positioned for a variety of economic conditions
Although positive vaccine news has led to a re-rating of many cyclical companies, investors might now benefit from turning to defensive growth stocks. And Fidelity European Trust (FEV), which is trading on a wider-than average discount to net asset value (NAV) of nearly 8 per cent, looks like a good way to get exposure to them.