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 Acc20.7648.2098.3071.201.77Buy
AXA Pan European High Yield Bond Z Gross Acc7.4019.5851.6826.105.83Buy
AXA Pan European High Yield Bond Z Acc6.8216.2543.4926.104.99Buy
AXA Rosenberg European Z Acc22.8543.0898.2921.371.65Buy
Aberdeen Euro Corporate Bond I Acc6.6822.4239.4428.711.00Buy
Aberdeen European Equity I Acc17.3639.9174.43210.001.30Buy
Aberdeen European High Yield Bond I Acc6.5516.3145.0592.085.60Buy
Aberdeen European Property Share I Acc10.0946.0493.9780.913.20Buy
Aberdeen European Smaller Companies Equity I Acc23.1244.2380.3688.960.70Buy
Aberdeen Global European Equity Ex UK R2 GBP17.2836.2072.5889.491.50Buy
Alken Absolute Return Europe GB1 GBP16.8112.7742.97975.72-Buy
Alken European Opportunities GB1---2,438.00-Buy
Allianz Continental European C19.9762.13102.46142.460.84Buy
Allianz European Equity Income C Acc25.9540.2596.2926.733.01Buy
Artemis European Growth I Acc29.7849.08139.68195.861.41Buy
Artemis European Opportunities I Hedged Acc17.2635.6788.79369.131.53Buy
Artemis European Opportunities I Acc23.0057.42119.03369.131.38Buy
Artemis Pan-European Absolute Return I Hedged Acc GBP6.4919.41-167.66-Buy
Baillie Gifford European B Acc27.2567.59136.11384.511.00Buy
Barclays Europe (ex-UK) Alpha R Acc GBP15.6836.3394.0340.501.40Buy

OEICs and Unit Trusts

Name1 Year (%)3 Years (%)5 Years (%)Fund Size (M)Yield (%)
AXA Framlington European Z Inc20.8647.7794.6771.201.80Buy
AXA Pan European High Yield Bond Z Gross Inc7.4119.5351.9426.106.00Buy
AXA Pan European High Yield Bond Z Inc6.8816.1943.8426.104.90Buy
Aberdeen Euro Corporate Bond I Inc6.6722.4639.2828.711.00Buy
Aberdeen European High Yield Bond I Inc6.5516.2945.0392.085.60Buy
Aberdeen European Property Share I Inc10.3045.9693.8880.913.20Buy
Aberdeen Global Select Euro High Yield Bond R1 GBP13.0034.4873.081,044.544.65Buy
Allianz Europe Equity Growth P GBP15.2652.8197.336,789.43-Buy
Allianz European Equity Income C Inc25.3137.0991.0326.732.62Buy
Artemis European Opportunities I Inc23.0057.43119.07369.131.40Buy
Artemis European Opportunities I Hedged Inc17.3435.4088.43369.131.56Buy
Baillie Gifford European B Inc27.2667.63136.06384.511.00Buy
Barclays Europe (ex-UK) Alpha R Dis GBP15.6336.2293.4440.501.40Buy
Baring Europe Select I Inc GBP24.2380.37165.252,018.601.40Buy
Baring European Growth I Inc GBP31.9256.14119.8889.401.80Buy
Baring German Growth I Inc GBP31.3267.76135.81601.501.40Buy
Baring Russia R Inc GBP20.8035.6325.2046.20-Buy
BlackRock Continental European D Inc19.4256.62109.23473.720.96Buy
BlackRock Continental European Income D Inc18.6454.88127.391,712.243.89Buy
BlackRock European Dynamic FD Inc24.2666.07132.232,521.770.67Buy

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
AXA Property Trust Limited Ord NPV7.8057.18133.41-9.2566.67Buy
Adams PLC Ord EUR0.0112.1512.15466.91--Buy
Alcentra European Floating Rate Income Limited Ord9.9310.1131.51-2.16104.51Buy
Alpha Pyrenees14.97-96.01-99.31-95.212.40Buy
Axiom European Financial Debt Fund Limited Ord6.62---6.50101.07Buy
BlackRock Greater Europe IT20.4851.69104.76-5.41339.37Buy
Bluefield Solar Income Limited18.1732.43-6.46104.26Buy
CVC Credit Partners European Opportunities Limited Ord GBP20.3824.99-0.87111.78Buy
CVC Credit Partners European Opportunities Limited Ord EUR21.7225.52-3.221.09Buy
Dunedin Enterprise IT plc15.97-0.1119.90-29.16506.10Buy
European Assets Trust29.6172.02202.781.221,294.27Buy
European Real Estate Investment Trust Limited-10.2863.5191.60-9.78179.00Buy
Fidelity European Values PLC29.0359.62115.76-7.85242.54Buy
Gresham House Strategic Plc 50P8.47-2.084.49-16.421,066.10Buy
Greencoat Renewables PLC ORD EUR0.01-----Buy
Hammerson plc2.051.4242.93--Buy
Hansteen Holdings PLC15.2146.95119.73-1.63128.90Buy
Henderson Euro Trust30.5062.86153.24-2.931,217.10Buy
HgCapital Trust plc Ord38.4382.41110.123.931,655.00Buy
Henderson European Focus Trust Ord 50P36.2865.47176.991.511,370.30Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
Amundi ETF MSCI Europe Energy GBP3.3515.967.9420.37GBXCommodity & EnergyBuy
Amundi ETF MSCI Europe Ex UK GBP14.1824.3745.9198.97GBXEquity - Europe ex UKBuy
Amundi ETF MSCI Europe Healthcare GBP5.706.1629.2388.89GBXEquity - Pharma Health & BiotechBuy
Amundi ETF MSCI Germany GBP9.7322.3447.3498.98GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Italy GBP27.1242.2330.0174.31GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Spain GBP22.2037.9123.1390.72GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Europe Minimum Volatility Factor UCITS ETF GBP12.5513.2844.32117.28GBXEquity - Europe inc UKBuy
BMO MSCI Europe ex-UK Income Leaders GBP Hedged5.6115.99--GBPEquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Leverage Daily ETP12.1060.1115.61-EUREquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Short Daily ETP-19.05-48.47-76.98-EUREquity - Europe ex UKBuy
DB X-Trackers II Iboxx Sovereigns Eurozone UCITS ETF 1C EUR1.74-3.268.0725.28EURFixed Int - EUR GovernmentBuy
DB X-Trackers MSCI Russia Capped Index UCITS ETF 1D GBP-11.0610.418.41-3.44GBPEquity - Europe Single CountryBuy
DB X-Trackers STOXX Europe 600 Oil & Gas UCITS ETF 1C GBP0.8111.656.5016.05GBPCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Utilities UCITS ETF 1C GBP20.9416.3524.4962.87GBPEquity - Other SpecialistBuy
DB X-Trackers Stoxx Europe 600 Basic Resources UCITS ETF 1C GBP2.1143.1221.0226.29GBPCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Banks UCITS ETF 1C GBP15.9051.5612.1161.39GBPEquity - FinancialBuy
DB X-Trackers STOXX Europe 600 Food & Beverage UCITS ETF 1C GBP13.6710.1651.7187.19GBPEquity - Other SpecialistBuy
DB X-Trackers STOXX Europe 600 Health Care UCITS ETF 1C GBP5.335.7533.1091.67GBPEquity - Pharma Health & BiotechBuy
DB X-Trackers Stoxx Europe 600 Technology UCITS ETF 1C GBP13.2924.6568.46141.59GBPEquity - Tech Media & TelecomBuy
DB X-Trackers Stoxx Europe 600 Telecommunication UCITS ETF 1C GBP9.436.9126.0661.50GBPEquity - Tech Media & TelecomBuy

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 0.1P5.6320.5183.28116.40-7.654.65VCT 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 0.1P1.4116.2876.83115.50-10.824.85VCT Specialist EnvironmentalBuy
KW Europe Real Estate PLC Ord NPV23.3316.57---4.30Property - Direct EuropeBuy

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