For professional investors in Brazil

Pan European Fund

An actively managed fund aiming to capture performance by anticipating the catalysts for change across Pan-European (inc UK) companies and industries


EUR 8.77
As of 30/11/2021

1-Day Change
EUR -0.13 (-1.43%)
As of 30/11/2021

Morningstar Rating

Morningstar ratings are based on the representative share class of this fund and are dated to the last month-end upon availability from Morningstar.



The Fund aims to provide a return, from a combination of capital growth and income over the long term (5 years or more).


The Fund invests at least two-thirds of its assets in shares (equities) and equity-related securities of companies, of any size, in any industry, in Europe (including UK). Companies will have their registered office in or do most of their business (directly or through subsidiaries) in this region.
The Fund may also invest in other assets including cash and money market instruments.
The investment manager may use derivatives (complex financial instruments) to reduce risk or to manage the Fund more efficiently.
The Fund is actively managed with reference to the MSCI Europe Index, which is broadly representative of the companies in which it may invest, as this can provide a useful comparator for assessing the Fund’s performance. The investment manager has discretion to choose investments for the Fund with weightings different to the index or not in the index. Depending on prevailing market conditions the Fund’s portfolio may shift between ‘high conviction’ (whereby the manager will take significant risk relative to the index) and a more cautious stance. This means the performance of the Fund may at times differ significantly from the index, while at other times it may be more closely aligned.


The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.
Potential investors must read the prospectus, and where relevant, the key investor information document before investing.
This website is for promotional purposes and does not qualify as an investment recommendation.


  • Portfolio construction blends sector themes with compelling stock-specific stories to provide access to sustainable long-term growth trends
  • The managers look to capture opportunities across all types of market conditions using fundamental research and thought leadership
  • Active portfolio balances core large-cap companies with a selection of mid-cap opportunities to seek additional returns
Past performance is not a guide to future performance. 


John Bennett

Director of European Equities | Portfolio Manager

Industry since 1987. Joined Firm in 2011.

Tom O’Hara

Portfolio Manager

Industry since 2006. Joined Firm in 2018.


Past performance is not a guide to future performance. All performance data includes both income and capital gains or losses and reflects the deduction of any ongoing charges or other fund expenses.
Discrete Performance (%)
As of 30/09/2021
A2 EUR (Net) MSCI Europe NR
Quarter End
As of 30/09/2021
Sep-2020 - Sep-2021 Sep-2019 - Sep-2020 Sep-2018 - Sep-2019 Sep-2017 - Sep-2018 Sep-2016 - Sep-2017
A2 EUR (Net) 27.54 0.72 4.19 0.84 14.43
MSCI Europe NR 28.76 -7.76 5.74 1.47 16.26
Cumulative & Annualised Performance (%)
As of 31/10/2021
A2 EUR (Net) MSCI Europe NR
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
A2 EUR (Net) 4.45 22.67 41.26 14.47 10.48 11.17 6.27
MSCI Europe NR 4.66 21.62 41.86 11.55 9.35 9.67 6.60
A2 EUR (Net) MSCI Europe NR
2016 2017 2018 2019 2020
A2 EUR (Net) -0.56 7.16 -12.17 29.06 2.17
MSCI Europe NR 2.58 10.24 -10.57 26.05 -3.32
Initial Charge 5.00%
Annual Charge 1.50%
Ongoing Charge
(As of 31/03/2021)


Top Holdings (As of 31/10/2021)
% of Fund
Holcim 4.21
UPM-Kymmene 3.33
ASML 3.04
Roche 2.92
Royal Dutch Shell 2.89
Novo Nordisk 2.80
LVMH Moet Hennessy Louis Vuitton 2.55
Mowi 2.48
BNP Paribas 2.38
Nestl 2.36


  • The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • Past performance is not a guide to future performance.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • Shares can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
  • Shares of small and mid-size companies can be more volatile than shares of larger companies, and at times it may be difficult to value or to sell shares at desired times and prices, increasing the risk of losses.
  • If a Fund has a high exposure to a particular country or geographical region it carries a higher level of risk than a Fund which is more broadly diversified.
  • The Fund may use derivatives with the aim of reducing risk or managing the portfolio more efficiently. However this introduces other risks, in particular, that a derivative counterparty may not meet its contractual obligations.
  • If the Fund holds assets in currencies other than the base currency of the Fund or you invest in a share class of a different currency to the Fund (unless 'hedged'), the value of your investment may be impacted by changes in exchange rates.
  • Securities within the Fund could become hard to value or to sell at a desired time and price, especially in extreme market conditions when asset prices may be falling, increasing the risk of investment losses.
  • The Fund could lose money if a counterparty with which the Fund trades becomes unwilling or unable to meet its obligations, or as a result of failure or delay in operational processes or the failure of a third party provider.
  • Information on compliance with EU sustainable related disclosures can be found here.
  • Funds incur costs as a necessary part of buying and selling the underlying investments, these are otherwise known as portfolio transaction costs, and include charges such as broker commission and Stamp Duty.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved.
  • Summary of Investor rights