Europe

Introduction to Europe

European funds focus on companies that are domiciled in Europe. These could be companies that generate the majority of their revenues domestically or those that have extensive revenues from outside Europe. Equally, some funds will take a broad definition of Europe - including Scandinavia and even Eastern Europe, while others will limit their investment universe to developed Europe or the EU.

Among the European stock markets, Germany and Switzerland are the largest. Germany is characterised by its high quality exporters - car companies BMW and Volkswagen, electronics group Siemens - while Switzerland holds high quality consumer goods companies such as Nestle, Richemont or Swatch. Benchmark indices include the Eurofirst 300 or MSCI Europe, plus individual indices such as the French CAC 40 or German Dax.

European markets tend to be seen as 'cyclical', more sensitive to the global economic outlook. They may rise faster than other developed stock markets at times of economic expansion, but may also all further than other stock markets at times of risk aversion among investors. European managers follow a variety of styles, some prioritising quality global companies, others preferring more domestically focused smaller companies.

The tax treatment of investments is subject to tax law and HMRC practice which are subject to change. The value of investments may be affected by exchange rate movements where the underlying investments are not denominated in Pounds Sterling.

OEICs and Unit Trusts

Name1 Year (%)3 Years (%)5 Years (%)Fund Size (M)Yield (%)
AXA Framlington European Z Acc26.4333.9595.5171.042.00Buy
AXA Pan European High Yield Bond Z Gross Acc8.4218.7455.7826.505.83Buy
AXA Pan European High Yield Bond Z Acc7.3914.9446.5726.504.99Buy
AXA Rosenberg European Z Acc26.2830.2892.4320.382.85Buy
Aberdeen Euro Corporate Bond I Acc11.3511.5428.1126.500.90Buy
Aberdeen European Equity I Acc25.4629.6968.44242.951.70Buy
Aberdeen European High Yield Bond I Acc6.8314.2443.85101.446.40Buy
Aberdeen European Property Share I Acc11.7138.9895.3270.813.20Buy
Aberdeen European Smaller Companies Equity I Acc31.1833.5875.8694.221.20Buy
Aberdeen Global European Equity Ex UK R2 GBP25.2426.4065.47118.261.50Buy
Alken Absolute Return Europe GB1 GBP9.549.86-1,078.47-Buy
Alken European Opportunities GB1---2,336.00-Buy
Allianz Continental European C29.0050.0296.14131.800.90Buy
Allianz European Equity Income C Acc23.0926.1183.2524.813.25Buy
Artemis European Growth I Acc29.6634.26113.15182.701.57Buy
Artemis European Opportunities I Hedged Acc15.5433.3497.50320.691.29Buy
Artemis European Opportunities I Acc26.4641.58108.86320.691.18Buy
Artemis Pan-European Absolute Return I Hedged Acc GBP10.03--112.87-Buy
Baillie Gifford European B Acc34.7148.86122.07248.161.09Buy
Barclays Europe (ex-UK) Alpha R Acc GBP17.1723.2289.4239.801.40Buy

OEICs and Unit Trusts

Name1 Year (%)3 Years (%)5 Years (%)Fund Size (M)Yield (%)
AXA Framlington European Z Inc26.3933.2691.5771.042.06Buy
AXA Pan European High Yield Bond Z Gross Inc8.3218.6855.7426.506.00Buy
AXA Pan European High Yield Bond Z Inc7.4014.9346.7926.504.90Buy
Aberdeen Euro Corporate Bond I Inc11.3511.4728.0026.500.90Buy
Aberdeen European High Yield Bond I Inc6.8214.2443.85101.446.40Buy
Aberdeen European Property Share I Inc11.8039.0495.1670.813.20Buy
Aberdeen Global Select Euro High Yield Bond R1 GBP17.3719.6955.171,054.685.01Buy
Allianz Europe Equity Growth P GBP26.4448.1196.276,613.19-Buy
Allianz European Equity Income C Inc22.6423.8278.8324.812.90Buy
Artemis European Opportunities I Inc26.4841.60108.89320.691.19Buy
Artemis European Opportunities I Hedged Inc16.0033.2197.09320.691.31Buy
Baillie Gifford European B Inc34.7248.75121.96248.161.09Buy
Barclays Europe (ex-UK) Alpha R Dis GBP17.1023.1188.8739.801.40Buy
Baring Europe Select I Inc GBP34.3459.15147.561,757.401.40Buy
Baring European Growth I Inc GBP30.8636.63106.3984.501.80Buy
Baring German Growth I Inc GBP35.0045.41116.27544.201.40Buy
Baring Russia R Inc GBP55.4063.5023.6652.90-Buy
BlackRock Continental European D Inc24.2936.0094.41515.141.25Buy
BlackRock Continental European Income D Inc21.3539.21117.591,516.233.88Buy
BlackRock European Dynamic FD Inc27.4041.78114.092,279.920.91Buy

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
AXA Property Trust Limited Ord NPV4.9266.8892.70-14.9568.93Buy
Adams PLC Ord EUR0.0115.009.52613.26--Buy
Alcentra European Floating Rate Income Limited Ord5.918.1428.96-2.24103.83Buy
Alpha Pyrenees11.15-98.18-99.54-95.832.40Buy
Axiom European Financial Debt Fund Limited Ord11.12--1.4298.11Buy
BlackRock Greater Europe IT24.5631.8892.40-5.46319.04Buy
Bluefield Solar Income Limited15.8635.27-8.98105.07Buy
CVC Credit Partners European Opportunities Limited Ord EUR16.6817.27-0.911.08Buy
Dolphin Capital Investors-4.85-79.61-62.17-73.0129.09Buy
Dunedin Enterprise IT plc16.73-0.6424.10-26.61503.30Buy
European Assets Trust21.1145.98177.52--Buy
European Real Estate Investment Trust Limited20.6075.5945.34-27.56225.00Buy
Fidelity European Values PLC25.2043.58108.78-9.56225.56Buy
Gresham House Strategic Plc 50P7.57-12.6164.49-25.091,138.10Buy
Hammerson plc5.6312.8366.96--Buy
Hansteen Holdings PLC25.9636.73120.61-3.41128.90Buy
Henderson Euro Trust23.3536.14137.88-6.741,133.40Buy
Henderson European Focus Trust Ord 50P35.0045.24169.61-1.131,309.80Buy
JP Morgan European IT Growth23.4037.65119.46-8.61322.39Buy
JP Morgan European IT Income26.1538.99135.01-8.95168.87Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
Amundi ETF MSCI Europe Energy GBP2.7227.275.2818.79GBXCommodity & EnergyBuy
Amundi ETF MSCI Europe Ex UK GBP9.8528.0832.6590.76GBXEquity - Europe ex UKBuy
Amundi ETF MSCI Europe Healthcare GBP6.8815.0429.9096.17GBXEquity - Pharma Health & BiotechBuy
Amundi ETF MSCI France GBP12.2731.9436.01101.43GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Germany GBP9.8631.1834.3288.24GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Italy GBP13.0524.234.5257.14GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Spain GBP14.0631.6716.3188.58GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Europe Minimum Volatility Factor UCITS ETF GBP4.0317.0136.86104.50GBXEquity - Europe inc UKBuy
DB X-Trackers DAX UCITS ETF (DR) - Income 1D GBP11.0032.8935.66-GBPEquity - Europe Single CountryBuy
DB X-Trackers MSCI Nordic Index UCITS ETF (DR) 1D GBP6.9522.6029.08-GBXEquity - Europe Single CountryBuy
ETFS DAX Daily 2x Long GO UCITS ETF GBP27.6255.5352.44165.25GBPEquity - Europe Single CountryBuy
ETFS DAX Daily 2x Short GO UCITS ETF GBP-31.99-33.42-62.26-84.42GBPEquity - Europe Single CountryBuy
HSBC Euro Stoxx 50 X GBP11.3129.6528.6090.11GBXEquity - Europe ex UKBuy
HSBC MSCI Russia Capped GBX6.4836.8738.003.96GBXEquity - Europe Single CountryBuy
HSBC MSCI Turkey GBP-0.490.309.157.28GBXEquity - Europe Single CountryBuy
LYXOR Msci Europe Dr GBP9.5825.9030.20-GBXEquity - Europe inc UKBuy
LYXOR UCITS ETF SG European Quality Income NTR D GBP1.7911.9719.51-GBXEquity - Europe inc UKBuy
Lyxor UCITS ETF EuroMTS All-Maturity Investment Grade (DR) GBP-7.708.79--GBXFixed Int - EUR GovernmentBuy
Lyxor UCITS ETF Russia DowJones Russia GDR D GBP1.0731.9719.63-GBPEquity - Europe Single CountryBuy
Lyxor UCITS ETF Turkey (DJ TURKEY TITANS 20) GBP0.711.549.90-GBXEquity - Europe Single CountryBuy

VCTs

Name1 Year (%)3 Years (%)5 Years (%)NAVDiscountNDYSector
Hazel Renewable Energy VCT1 PLC A Shs 0.1P-0.508,668.410.104,950.00-VCT Specialist EnvironmentalBuy
Hazel Renewable Energy VCT1 PLC Ord 0.1P-3.2910.3458.04118.10-12.794.85VCT Specialist EnvironmentalBuy
Hazel Renewable Energy VCT2 PLC A Shs 0.1P-0.508,668.410.104,950.00-VCT Specialist EnvironmentalBuy
Hazel Renewable Energy VCT2 PLC Ord 0.1P-3.2910.8958.84117.30-12.194.85VCT Specialist EnvironmentalBuy
KW Europe Real Estate PLC Ord NPV2.2414.78---4.49Property - Direct EuropeBuy

Disclaimer

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