It's All About Stock Picking for Top Spain Traders as Vote Looms
- IBEX 35 Index is heading for its first annual drop in three
- Inditex, Amadeus, Prim and Ebro Foods among top choices
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While the turmoil from Spain’s upcoming general elections has hurt investor sentiment and the country’s stocks, Fidelity Investment Services Ltd.’s Fabio Riccelli managed to do well.
His strategy: pick shares like clothes retailer Inditex SA and flight-bookings provider Amadeus IT Holding SA, which get most of their sales from Europe and have a track record of growing earnings. The fund he oversees, the 1 billion-euro ($1.1 billion) Iberia Fund, has rallied 17 percent this year, compared with a 3.9 percent loss in the benchmark IBEX 35 Index. It’s beaten 93 percent of its peers, data compiled by Bloomberg show.