For financial professionals in Norway

Horizon Euroland Fund

An actively managed strategy aiming to deliver capital growth through the identification of good quality, but undervalued, firms operating/based in the Euroland

ISIN
LU0209157659

NAV
EUR 13.48
As of 12 Aug 2022

1-Day Change
EUR 0.06 (0.45%)
As of 12 Aug 2022


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 capital growth over the long term.
Performance target: To outperform the MSCI EMU Net Return EUR 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 shares (equities) and equity-related securities of companies, of any size, in any industry, in the Eurozone. Companies will be incorporated in or having their principal business activities in the Eurozone.
The Fund may also invest in other assets including companies outside the Eurozone, 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 EMU Net Return EUR Index, which is broadly representative of the companies 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 a Marketing Communication and does not qualify as an investment recommendation.

ABOUT THIS FUND

  • A disciplined investment process, developed by the fund manager in 1988, that sets aside sentiment in order to benefit from market mispricing
  • Investment process combines bottom-up analysis with qualitative overview that helps the team control risk while seeking to maximise performance
  • Seeks superior companies with established track records that are priced at a level that does not reflect their intrinsic value or future prospects
Past performance does not predict future returns. 
 

PORTFOLIO MANAGEMENT

Nick Sheridan

Portfolio Manager

Industry since 1986. Joined Firm in 2009.

Performance

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.
Cumulative & Annualised Performance (%)
As of 31 Jul 2022
I1 EUR (Net) MSCI EMU NR
 
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
8 Jul 2014
I1 EUR (Net) 7.81 -12.93 -8.82 5.59 3.25 - 5.48
MSCI EMU NR 7.31 -12.73 -8.72 4.33 3.63 - 5.09
Calendar Year Returns (%)
As of 31 Dec 2021
I1 EUR (Net) MSCI EMU NR
YTD 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 PERFORMANCE INCEPTION
8 Jul 2014
I1 EUR (Net) -19.24 29.05 -2.01 24.05 -16.55 11.03 4.67 17.50 - - - -1.20
MSCI EMU NR -18.67 22.16 -1.02 25.47 -12.71 12.49 4.37 9.81 - - - 0.15
FEE INFORMATION
Initial Charge 0.00%
Annual Charge 1.00%
Ongoing Charge
(As of 31 Dec 2021)
1.00%
Performance Fee 10% of the 'Relevant Amount'

Portfolio

Top Holdings (As of 30 Jun 2022)
% of Fund
Sanofi 4.70
Porsche Automobil 4.60
Koninklijke Ahold Delhaize 4.45
TotalEnergies 4.32
RELX 3.94
Bayer 3.35
Deutsche Telekom 3.31
Enel 2.94
STMicroelectronics 2.93
Amundi 2.91

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 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.
  • 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'), 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 ongoing charges 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.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved.
  • Summary of Investor rights
  • Henderson Management SA may decide to terminate the marketing arrangements of this Collective Investment Scheme in accordance with the appropriate regulation.
  • 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 KIID before making any final investment decisions.