European Focus Fund

A focused strategy designed to capture performance by anticipating the catalysts for change in European (ex UK) companies and industries

ISIN
GB0031860595

NAV
GBP 299.80p
As of 30/06/20

1-Day Change
GBP 0.10p (0.03%)
As of 30/06/20

Morningstar Rating

Morningstar Analyst Rating
Morningstar Analyst Rating				 Silver


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

INVESTMENT OBJECTIVE

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

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The Fund invests in a concentrated portfolio of shares (also known as equities) of companies, of any size, in any industry, in Europe (excluding 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 FTSE World Europe Ex UK 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.
As an additional means of assessing the performance of the Fund, the IA Europe ex UK sector average, which is based on a peer group of broadly similar funds, may also provide a useful comparator.

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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

  • Portfolio construction blends sector themes with compelling stock-specific stories with a goal of providing 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
  • Invests in a blend of well-known larger-cap and under-researched mid-cap companies, with returns achieved through a combination of growth and income
Past performance is not a guide to future performance. 
 

AWARDS

Ratings for this fund include:

PORTFOLIO MANAGEMENT

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.

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 31/03/20
A Acc FTSE World Europe Ex UK Index IA Europe ex UK Equity
 
Quarter End
As of 31/03/20
Mar-2019 - Mar-2020 Mar-2018 - Mar-2019 Mar-2017 - Mar-2018 Mar-2016 - Mar-2017 Mar-2015 - Mar-2016
-5.65% -0.90% 2.35% 23.70% -4.63%
FTSE World Europe Ex UK Index -7.96% 2.57% 4.26% 27.88% -4.16%
IA Europe ex UK Equity -9.23% -1.24% 5.80% 24.20% -1.60%

Index Description

The FTSE World Europe (Ex UK) Index is a measure of the combined performance of large and medium sized companies from developed and advanced emerging European stock markets excluding the UK. It provides a useful comparison against which the Fund's performance can be assessed over time.

Peer Group Description

The Investment Association (IA) groups funds with similar geographic and/or investment remit into sectors. The Fund's ranking within the sector (as calculated by a number of data providers) can be a useful performance comparison against other funds with similar aims.

Cumulative & Annualised Performance (%)
As of 31/05/20
A Acc (Net) FTSE World Europe Ex UK Index IA Europe ex UK Equity
 
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
31/01/01
A Acc (Net) 7.16% -5.13% 6.30% 1.07% 5.13% 10.06% 5.91%
FTSE World Europe Ex UK Index 8.28% -6.53% 1.94% 1.54% 6.48% 8.17% 5.18%
IA Europe ex UK Equity 8.00% -6.14% 2.93% 0.70% 5.80% 8.09% 4.98%

Index Description

The FTSE World Europe (Ex UK) Index is a measure of the combined performance of large and medium sized companies from developed and advanced emerging European stock markets excluding the UK. It provides a useful comparison against which the Fund's performance can be assessed over time.

Peer Group Description

The Investment Association (IA) groups funds with similar geographic and/or investment remit into sectors. The Fund's ranking within the sector (as calculated by a number of data providers) can be a useful performance comparison against other funds with similar aims.

FEE INFORMATION
Initial Charge 5.00%
Annual Charge 1.50%
Ongoing Charge
(As of 30/11/19)
1.70%

Portfolio

Top Holdings (As of 31/05/20)
% OF FUND
LafargeHolcim 7.43
Nestl 5.01
ASML 4.20
UPM-Kymmene 3.86
Roche 3.81
SAP 3.30
Akzo Nobel 3.02
Novartis 2.87
Koninklijke Philips 2.79
Novo Nordisk 2.60

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.
  • ​You should note that your tax treatment in relation to any investments held outside an ISA will depend on your individual circumstances and may be subject to change in the future. Governments may change the tax rules which affect you or the Funds in which you have invested.
  • 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.
  • 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 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.
  • The Fund could lose money if a counterparty with which it trades becomes unwilling or unable to meet its obligations to the Fund.
  • 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, you may wish to consult a financial adviser.
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