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For investors in Singapore

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 52.92
As of 2025/05/02

1-Day Change
EUR 0.77 (1.48%)
 As of 2025/05/02

Morningstar Rating

As of 2025/03/31

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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Note: You should not make investment decisions based solely on marketing materials. You should read the Prospectus and the Product Highlights Sheet of the Fund for more details of the investment risks and seek independent professional advice where appropriate.

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
Guy Barnard, CFA

Co-Head of Global Property Equities | Portfolio Manager

Industry since 2003. Joined Firm in 2006.

Nicolas Scherf: Portfolio Manager
Nicolas Scherf

Portfolio Manager

Industry since 2007. Joined Firm in 2014.

Performance

Cumulative & Annualised Performance (%)
As of 2025/03/31
A2 EUR (With Sales Charge)* FTSE EPRA Nareit Developed Europe Capped NR Property - Indirect Europe - OE A2 EUR (Net)
 
  Cumulative Annualised
1MO 3MO 6MO YTD 1YR 3YR 5YR 10YR Since Inception
1998/07/01
A2 EUR (With Sales Charge)* -9.79 -7.34 -19.80 -7.34 -9.32 -11.15 1.27 1.72 5.94
FTSE EPRA Nareit Developed Europe Capped NR -3.50 -1.01 -12.51 -1.01 -1.77 -9.55 0.14 -0.77 5.88
Property - Indirect Europe - OE -3.58 -0.40 -11.63 -0.40 -0.81 -8.61 0.74 -0.01 5.29
A2 EUR (Net) -5.04 -2.46 -15.58 -2.46 -4.55 -9.61 2.31 2.25 6.15
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.
*Performance with sales charge assume 5.00% initial sales charge/front-end load (FEL) applied.
© Morningstar 2025. All rights reserved. NAV-NAV, gross income reinvested where applicable.

Recommended holding period 5 Years

Example Investment: EUR 10,000

Scenarios If you exit after 1 year If you exit after 5 years
MinimumThere is no minimum guaranteed return. You could lose some or all of your investment
StressWhat you might get back after costs860 EUR1,220 EUR
Average return each year-91.41%-34.34%
UnfavourableWhat you might get back after costs5,950 EUR7,240 EUR
Average return each year-40.50%-6.24%
ModerateWhat you might get back after costs9,990 EUR11,790 EUR
Average return each year-0.15%3.35%
FavourableWhat you might get back after costs13,520 EUR18,130 EUR
Average return each year35.23%12.64%
There is currently insufficient data to provide a useful indication of past performance to investors.
Fee Information
Initial Charge 5.00%
Annual Charge 1.20%
Ongoing Charge
(As of 2023/06/30) 		1.87%
Performance Fee 10% of the 'Relevant Amount'
Hurdle Rate FTSE EPRA Nareit Developed Europe Capped Index

Portfolio

Top Holdings (As of 2025/03/31)
% of Fund
Vonovia 8.38
Unibail-Rodamco-Westfield 7.06
Segro 7.05
PSP Swiss Property 4.99
Merlin Properties Socimi 4.86
British Land 4.75
Tritax Big Box REIT 4.75
Fastighets AB Balder 4.59
LEG Immobilien 4.10
UNITE Group 3.59
TOTAL 54.13

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