For qualified investors in Switzerland

Horizon Pan European Property Equities Fund

Actively managed fund focused on the managers’ best ideas in European listed property stocks and REITs to deliver long-term capital appreciation

ISIN
LU0088927925

NAV
EUR 71.02
As of 08/12/2021

1-Day Change
EUR 0.09 (0.13%)
As of 08/12/2021

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.

Overview

Quarterly Update

Watch the investment team recap this quarter.

(Note: Filmed in October 2021)

INVESTMENT OBJECTIVE

The Fund aims to provide capital growth over the long term.
Performance target: To outperform the FTSE EPRA Nareit Developed Europe Capped Index, after the deduction of charges, over any 5 year period.

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The Fund invests at least 75% of its assets in a concentrated portfolio of shares (equities) and equity-related securities of real estate investment trusts (REITs) and companies, which invest in property, in the EEA or the UK if not part of the EEA. Securities will derive the main part of their revenue from owning, developing and managing real estate.
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 FTSE EPRA Nareit Developed Europe Capped Index, which is broadly representative of the securities in which it may invest, as this forms the basis of the Fund’s performance target and the level above which performance fees may be charged (if applicable). The investment manager has discretion to choose investments for the Fund with weightings different to the index or not in the index, but at times the Fund may hold investments similar to the index.

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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.

ABOUT THIS FUND

  • A broad investable universe and selective approach enables the team to identify stocks with attractive dividend yield and growth characteristics
  • Managed by a specialist team based in the UK and supported by the wider global property equities teams in the US and Singapore
  • Offers a liquid means of diversifying into real estate and benefitting from powerful secular themes influencing the asset class
Past performance is not a guide to future performance. 
 

RATINGS AND AWARDS

Lipper Fund Awards based on Horizon Pan European Property Equtities Fund Class A2 EUR shares only. Availability of  this share class may be limited by law in certain jurisdictions. Performance records are detailed on the specific KIID, fees and charges may vary and further information can be found in the fund’s prospectus and KIID which must be reviewed before investing. Please consult your local sales representative if you have any further queries.

PORTFOLIO MANAGEMENT

Guy Barnard, CFA

Co-Head of Global Property Equities | Portfolio Manager

Industry since 2003. Joined Firm in 2006.

Nicolas Scherf

Portfolio Manager

Industry since 2007. Joined Firm in 2014.

Performance

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) FTSE EPRA Nareit Developed Europe Capped 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) 30.65 -4.68 10.85 12.07 8.18
FTSE EPRA Nareit Developed Europe Capped NR 23.61 -13.70 7.72 6.33 2.99
Cumulative & Annualised Performance (%)
As of 30/11/2021
A2 EUR (Net) FTSE EPRA Nareit Developed Europe Capped NR
 
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
01/07/1998
A2 EUR (Net) 0.73 24.70 27.76 15.47 13.80 15.03 8.61
FTSE EPRA Nareit Developed Europe Capped NR 0.31 16.19 20.56 8.21 7.62 10.42 8.26
CALENDAR YEAR RETURNS (%)
A2 EUR (Net) FTSE EPRA Nareit Developed Europe Capped NR
2016 2017 2018 2019 2020
A2 EUR (Net) -7.86 19.77 -5.62 35.60 -3.93
FTSE EPRA Nareit Developed Europe Capped NR -5.29 12.55 -8.40 28.52 -10.74
FEE INFORMATION
Initial Charge 5.00%
Annual Charge 1.20%
Ongoing Charge
(As of 30/06/2021)
1.88%
Performance Fee 10% of the 'Relevant Amount'

Portfolio

Top Holdings (As of 31/10/2021)
% of Fund
Vonovia 9.02
Segro 7.81
LEG Immobilien 6.97
Fastighets AB Balder 5.13
Gecina 4.79
Castellum 3.88
VGP 3.67
Safestore 3.57
Wihlborgs Fastigheter 3.36
Land Securities Group 3.36

Documents

  • 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.
  • 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 is focused towards particular industries or investment themes and may be heavily impacted by factors such as changes in government regulation, increased price competition, technological advancements and other adverse events.
  • This Fund may have a particularly concentrated portfolio relative to its investment universe or other funds in its sector. An adverse event impacting even a small number of holdings could create significant volatility or losses for the Fund.
  • The Fund invests in real estate investment trusts (REITs) and other companies or funds engaged in property investment, which involve risks above those associated with investing directly in property. In particular, REITs may be subject to less strict regulation than the Fund itself and may experience greater volatility than their underlying assets.
  • 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.
  • When the Fund, or a hedged share/unit class, seeks to mitigate exchange rate movements of a currency relative to the base currency, the hedging strategy itself may create a positive or negative impact to the value of the Fund due to differences in short-term interest rates between the currencies.
  • 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.
  • Some or all of the Annual Management Charge and other costs of the Fund may be taken from capital, which may erode capital or reduce potential for capital growth.
  • 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