For financial professionals in the UK

Pan European Small and Mid-Cap Fund


EUR 16.71
As of 21/09/2023

1-Day Change
EUR -0.24 (-1.39%)
As of 21/09/2023

Morningstar Medalist Rating ™

 Morningstar Analyst Rating
As of 31/07/2023



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 small and mid-cap companies, 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 will invest in small and mid-cap companies with a market capitalisation that generally falls within the bottom 50% of the Pan European market.
The Fund may also invest in other assets including companies of any size, in any region, 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 Small Cap 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, but at times the Fund may hold investments similar to the index.


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 a Marketing Communication and does not qualify as an investment recommendation.


Ollie Beckett

Portfolio Manager

Industry since 1995. Joined Firm in 2005.

Rory Stokes, CFA

Portfolio Manager

Industry since 2001. Joined Firm in 2013.


Past performance does not predict future returns. 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 30/06/2023
A1 EUR (Net) MSCI Europe Small Cap NR
Quarter End
As of 30/06/2023
Jun-2022 - Jun-2023 Jun-2021 - Jun-2022 Jun-2020 - Jun-2021 Jun-2019 - Jun-2020 Jun-2018 - Jun-2019
A1 EUR (Net) 9.63 -19.09 59.36 -6.13 -4.15
MSCI Europe Small Cap NR 6.74 -18.45 45.05 -4.20 -2.83
Cumulative & Annualised Performance (%)
As of 31/08/2023
A1 EUR (Net) MSCI Europe Small Cap NR
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
A1 EUR (Net) -5.52 3.61 5.22 8.19 4.45 8.24 8.57
MSCI Europe Small Cap NR -2.93 6.04 4.76 5.77 3.22 7.65 6.80
Calendar Year Returns (%)
As of 30/06/2023
A1 EUR (Net) MSCI Europe Small Cap NR
YTD 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
A1 EUR (Net) 7.17 -18.33 21.01 11.72 35.37 -20.09 17.27 4.68 23.59 4.46 34.72
MSCI Europe Small Cap NR 5.69 -22.60 22.93 7.32 28.65 -14.46 17.15 2.39 21.69 5.13 32.21
Calendar Year Returns (%)
Year A1 EUR (Net) Index
2022 -18.33 -22.60
2021 21.01 22.93
2020 11.72 7.32
2019 35.37 28.65
2018 -20.09 -14.46
2017 17.27 17.15
2016 4.68 2.39
2015 23.59 21.69
2014 4.46 5.13
2013 34.72 32.21
2012 24.18 23.96
2011 -14.39 -18.44
2010 33.91 25.66
2009 68.05 58.60
2008 -47.79 -51.12
2007 -4.56 -5.79
2006 30.39 32.75
2005 from 02/11/2005 5.50 8.46
Initial Charge 5.00%
Annual Charge 1.50%
Ongoing Charge
(As of 31/03/2023)


Top Holdings (As of 31/08/2023)
% of Fund
Van Lanschot Kempen 4.41
TKH Group 4.15
IG Group 2.70
Grupo Catalana Occidente 2.37
DFDS 2.31
Gaztransport Et Technigaz 1.98
Nordnet AB publ 1.96
Trigano 1.94
Dalata Hotel Group 1.93
BFF Bank 1.88


  • ​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 does not predict future returns.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • Shares/Units 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/unit class of a different currency to the Fund (unless hedged, i.e. mitigated by taking an offsetting position in a related security), the value of your investment may be impacted by changes in exchange rates.
  • When the Fund, or a share/unit class, seeks to mitigate exchange rate movements of a currency relative to the base currency (hedge), the hedging strategy itself may positively or negatively impact 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.
  • 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.
  • 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.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved.
  • Summary of Investor rights
  • Janus Henderson Investors Europe S.A. may decide to terminate the marketing arrangements of this Collective Investment Scheme in accordance with the appropriate regulation.
  • Information on compliance with EU Sustainability related disclosures can be found here.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report. Please refer to the prospectus of the UCITS and to the KID before making any final investment decisions.