Is Europe an undervalued prospect for long-term growth?

07/12/2018

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​Tim Stevenson and James Ross, Co-Managers on the Janus Henderson Horizon Pan European Equity Fund, reflect on the prospects for European equities in 2019, at a time of political uncertainty and slowing economic growth. Tim addresses his upcoming retirement, while James looks at the fund’s strategic positioning, in the search for high-quality/high-return businesses capable of generating higher returns in future.

Key takeaways:
  • Tim Stevenson’s upcoming retirement will leave the fund in the capable hands of current  Co-Manager James Ross, supported by Janus Henderson’s wider Pan-European Equities team
  • The fund has three categories for prospective holdings in the strategy: compounders, improvers and income blend
  • The limited scope for interest rate rises in Europe should be supportive for equities in the region, which look attractively priced on a relative basis

These are the views of the author at the time of publication and may differ from the views of other individuals/teams at Janus Henderson Investors. Any securities, funds, sectors and indices mentioned within this article do not constitute or form part of any offer or solicitation to buy or sell them.

Past performance is not a guide to future performance. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested.

The information in this article does not qualify as an investment recommendation.

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Please read the following important information regarding funds related to this article.

Janus Henderson Horizon Pan European Equity Fund

Specific risks

  • 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.
  • This fund is designed to be used only as one component in several in a diversified investment portfolio. Investors should consider carefully the proportion of their portfolio invested into this fund.
  • The Fund could lose money if a counterparty with which it trades becomes unwilling or unable to meet its obligations to the Fund.
  • 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.
  • Changes in currency exchange rates may cause the value of your investment and any income from it to rise or fall.
  • If the Fund or a specific share class of the Fund seeks to reduce risks (such as exchange rate movements), the measures designed to do so may be ineffective, unavailable or detrimental.
  • Any security could become hard to value or to sell at a desired time and price, increasing the risk of investment losses.

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