For Approved Qualified Domestic Institutional Investors in China

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 43.92
As of 2023/03/21

1-Day Change
EUR 0.33 (0.76%)
 As of 2023/03/21

Morningstar Rating
As of 2023/02/28

Overview

INVESTMENT OBJECTIVE

The Fund aims to provide capital growth over the long term.

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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 have their registered offices in the EEA or the UK if not part of the EEA which will derive the main part of their revenue from owning, developing and managing real estate in Europe.

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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

PORTFOLIO MANAGEMENT

Guy Barnard, CFA

Guy Barnard, CFA

Co-Head of Global Property Equities | Portfolio Manager

Industry since 2003. Joined Firm in 2006.

Nicolas Scherf

Nicolas Scherf

Portfolio Manager

Industry since 2007. Joined Firm in 2014.

Performance

Discrete Performance (%)
As of 2022/12/31
A2 EUR
 
Quarter End
As of 2022/12/31 		Dec-2021 - Dec-2022 Dec-2020 - Dec-2021 Dec-2019 - Dec-2020 Dec-2018 - Dec-2019 Dec-2017 - Dec-2018
A2 EUR -37.37 27.38 -3.93 35.60 -5.62
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
Cumulative Performance (%)
As of 2023/02/28
A2 EUR
 
  Cumulative
  1MO 3MO 6MO YTD 1YR 3YR 5YR Since Inception
1998/07/01
A2 EUR -1.81 6.01 -8.25 7.33 -26.73 -15.67 11.02 375.29
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
Calendar Year Returns (%)
As of 2022/12/31
A2 EUR
2022 2021 2020 2019 2018
A2 EUR -37.37 27.38 -3.93 35.60 -5.62
Calendar Year Returns (%)
Year A2 EUR Index
2022 -37.37 -36.57
2021 27.38 18.49
2020 -3.93 -10.74
2019 35.60 28.52
2018 -5.62 -8.40
2017 19.77 12.55
2016 -7.86 -5.29
2015 22.13 18.14
2014 30.09 25.35
2013 15.70 10.79
2012 28.64 27.08
2011 -9.73 -10.42
2010 11.67 16.29
2009 35.12 35.93
2008 -53.94 -46.42
2007 -34.21 -29.07
2006 50.95 48.84
2005 36.82 27.44
2004 41.95 41.88
2003 20.92 20.53
2002 5.46 6.79
2001 -6.35 0.46
2000 14.98 13.02
1999 19.21 16.34
1998 from 01/07/1998 -12.66 -3.92
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
FEE INFORMATION
Initial Charge 5.00%
Annual Charge 1.20%
Ongoing Charge
(As of 2022/06/30) 		1.87%
Performance Fee 10% of the 'Relevant Amount'
Hurdle Rate FTSE EPRA Nareit Developed Europe Capped Index
The ongoing charge is calculated using the Packaged Retail Investment Product (PRIIPs) methodology. The PRIIPs methodology differs to the UCITS ongoing charge methodology, as the PRIIPS methodology captures additional recurring charges, including but not limited to: a. Interest paid on borrowing (e.g. bank interest) b. Any fees incurred in relation to stock-lending activity (i.e. the fee paid to the lending agent) c. Any costs associated with holding closed-ended vehicles.
Please refer to the offering documents for more details on the fees and expenses.

Portfolio

Top Holdings (As of 2023/02/28)
% of Fund
Vonovia 8.43
Segro 7.04
Land Securities Group 5.27
LEG Immobilien 5.18
Gecina 5.15
PSP Swiss Property 4.66
Merlin Properties Socimi 4.54
Safestore 4.49
UNITE Group 3.66
Mercialys 3.40
Portfolio holdings are subject to change without notice. 

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
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