Fidelity European Values PLC is a United Kingdom-based investment company. The investment objective of the Company is to achieve long term capital growth principally from the stock markets of continental Europe. The Company invests approximately 80% of gross assets in companies from countries, which are included in the Benchmark Index. It invests approximately 20% of gross assets in companies of European countries, which are not included in the Company's Benchmark Index and will include investing in the United Kingdom companies. The Company invests approximately 5% of gross assets in companies of non-European countries, which have some exposure to, or connection with Europe. Approximately 5% of the Company's gross assets may be held in unquoted securities in aggregate at any one time. The Company will not invest over 10% of gross assets in any one quoted company at the time of acquisition. Fil Investments International is the Company's investment manager.