For investors in Hong Kong

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 69.36
As of 2022/01/14

1-Day Change
EUR 0.02 (0.03%)
As of 2022/01/14

Morningstar Rating

Key investment risks:

  • The Fund's investments in equities are subject to equity securities risk due to fluctuation of securities values.
  • Investments in the Fund involve general investment, currency, liquidity, hedging, market, economic, political, regulatory, taxation, securities lending related, reverse repurchase transactions related, financial, interest rate and small/

More

  • mid-capitalisation companies related risks. In extreme market conditions, you may lose your entire investment.
  • The Fund may invest in financial derivatives instruments to reduce risk and to manage the Fund more efficiently. This may involve counterparty, liquidity, leverage, volatility, valuation and over-the-counter transaction risks and the Fund may suffer significant losses.
  • The Fund’s investments are concentrated in European property sector (may include small/ mid capitalization companies). It may be more volatile and subject to property securities related risk.
  • The Fund may invest in Eurozone/PIIGS and may suffer from European sovereign debt crisis risk.
  • The directors may at its discretion pay distributions out of gross investment income and net realised/ unrealised capital gains while charging all or part of the fees and expenses to the capital, resulting in an increase in distributable income for the payment of distributions and therefore, the Fund may effectively pay distributions out of capital. This amounts to a return or withdrawal of part of an investor's original investment or from any capital gains attributable to that original investment, and may result in an immediate reduction of the Fund’s net asset value per share.
  • The Fund may charge performance fees . An investor may be subject to such fee even if there is a loss in investment capital.
  • Investors should not only base on this document alone to make investment decisions and should read the offering documents including the risk factors for further details.

Less

Overview

INVESTMENT OBJECTIVE

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

More

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.

Less

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

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

Discrete Performance (%)
As of 2021/12/31
A2 EUR
 
Quarter End
As of 2021/12/31
Dec-2020 - Dec-2021 Dec-2019 - Dec-2020 Dec-2018 - Dec-2019 Dec-2017 - Dec-2018 Dec-2016 - Dec-2017
A2 EUR 27.38 -3.93 35.60 -5.62 19.77
Cumulative Performance (%)
As of 2021/12/31
A2 EUR
 
  Cumulative
  1MO 3MO 6MO YTD 1YR 3YR 5YR Since Inception
1998/07/01
A2 EUR 2.15 8.09 10.88 27.38 27.38 65.95 87.59 607.02
CALENDAR YEAR RETURNS (%)
A2 EUR
2017 2018 2019 2020 2021
A2 EUR 19.77 -5.62 35.60 -3.93 27.38
FEE INFORMATION
Initial Charge 5.00%
Annual Charge 1.20%
Ongoing Charge
(As of 2021/06/30)
1.88%
Performance Fee 10% of the 'Relevant Amount'

Portfolio

Top Holdings (As of 2021/11/30)
% of Fund
Vonovia 9.40
Segro 7.77
LEG Immobilien 6.61
Fastighets AB Balder 5.33
Gecina 4.61
Castellum 4.54
Safestore 3.84
VGP 3.76
Land Securities Group 3.45
Merlin Properties Socimi 3.19

Documents