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 Acc6.8232.1754.5966.491.76Buy
AXA Pan European High Yield Bond Z Gross Acc4.3819.1637.0526.305.83Buy
AXA Pan European High Yield Bond Z Acc4.3016.5130.4726.304.99Buy
AXA Rosenberg European Z Acc11.5432.8162.4020.532.48Buy
Aberdeen Euro Corporate Bond I Acc5.5424.1218.9827.231.00Buy
Aberdeen European Equity I Acc12.3736.1151.78194.101.00Buy
Aberdeen European High Yield Bond I Acc4.3517.4731.1593.385.30Buy
Aberdeen European Property Share I Acc11.5724.3271.56100.983.00Buy
Aberdeen European Smaller Companies Equity I Acc16.8848.1063.5246.700.60Buy
Aberdeen Global European Equity Ex UK X Acc GBP12.4533.3250.2890.301.50Buy
Alken Absolute Return Europe GB1 GBP13.7812.3334.46929.21-Buy
Alken European Opportunities GB1---2,639.18-Buy
Allianz Continental European C14.3147.7367.82119.580.92Buy
Allianz European Equity Income C Acc11.5330.9763.3629.983.50Buy
Artemis European Growth I Acc18.9852.2987.43218.291.37Buy
Artemis European Opportunities I Hedged Acc16.7025.9374.39376.531.46Buy
Artemis European Opportunities I Acc18.4948.5880.07376.531.37Buy
Artemis Pan-European Absolute Return I Hedged Acc GBP3.6524.42-219.59-Buy
Baillie Gifford European B Acc17.6061.0390.02423.951.11Buy
Barclays Europe (ex-UK) Alpha R Acc GBP7.4426.2355.0340.801.40Buy

OEICs and Unit Trusts

Name1 Year (%)3 Years (%)5 Years (%)Fund Size (M)Yield (%)
AXA Framlington European Z Inc6.8332.1352.4566.491.79Buy
AXA Pan European High Yield Bond Z Gross Inc4.3919.2037.1026.306.00Buy
AXA Pan European High Yield Bond Z Inc4.4016.5730.5826.304.90Buy
Aberdeen Euro Corporate Bond I Inc5.5524.1518.9027.231.00Buy
Aberdeen European High Yield Bond I Inc4.3417.4431.1393.385.30Buy
Aberdeen European Property Share I Inc11.4424.2971.51100.983.00Buy
Aberdeen Global Select Euro High Yield Bond X MInc GBP7.2641.6436.72971.424.65Buy
Allianz Europe Equity Growth P NAV GBP10.8339.6466.057,428.14-Buy
Allianz European Equity Income C Inc10.6828.2258.6729.983.06Buy
Artemis European Opportunities I Inc18.4848.5780.09376.531.39Buy
Artemis European Opportunities I Hedged Inc16.8827.0473.97376.531.48Buy
Baillie Gifford European B Inc17.6461.1090.07423.951.11Buy
Barclays Europe (ex-UK) Alpha R Dis GBP7.4126.1854.6040.801.40Buy
Baring Europe Select I Inc GBP17.8166.84108.192,147.501.40Buy
Baring European Growth I Inc GBP21.0252.5684.2696.901.80Buy
Baring German Growth I Inc GBP19.9460.1998.32777.601.40Buy
Baring Russia R Inc GBP3.3593.5822.1448.70-Buy
BlackRock Continental European D Inc14.5245.0970.10442.180.96Buy
BlackRock Continental European Income D Inc11.3437.5375.261,938.793.94Buy
BlackRock Continental European Income D Hedged Inc10.41--1,938.793.99Buy

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
AXA Property Trust Limited Ord NPV-14.9339.4162.71-12.7864.49Buy
Adams PLC Ord EUR0.01-30.94-45.24287.6093.800.03Buy
Alcentra European Floating Rate Income Limited Ord0.026.8118.25-6.24104.84Buy
Alpha Pyrenees-20.03-97.00-99.54-97.502.40Buy
Axiom European Financial Debt Fund Limited Ord20.81--2.35104.54Buy
BlackRock Greater Europe IT16.4847.3564.66-5.27346.76Buy
Bluefield Solar Income Limited10.5435.19-4.54107.85Buy
CVC Credit Partners European Opportunities Limited Ord GBP9.0226.51-1.46111.62Buy
CVC Credit Partners European Opportunities Limited Ord EUR6.3723.80-1.901.09Buy
Chenavari Capital Solutions Limited Red Ord NPV Inc GBP4.154.90--7.5291.64Buy
Dolphin Capital Investors-17.01-71.92-81.02-67.0621.10Buy
Dunedin Enterprise IT plc79.9081.5261.98-36.27569.60Buy
European Assets Trust24.6051.01115.600.621,287.03Buy
Fidelity European Values PLC19.1937.8474.29-8.98243.34Buy
Gresham House Strategic Plc 50P1.651.35-10.92-28.351,148.00Buy
Greencoat Renewables PLC ORD EUR0.01-----Buy
Hammerson plc-14.97-24.697.15--Buy
Hansteen Holdings PLC19.7736.85107.932.26132.50Buy
Henderson Euro Trust19.6344.36104.59-1.761,198.60Buy
HgCapital Trust plc Ord13.7874.6285.82-4.921,806.40Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
Amundi ETF MSCI Europe Energy GBP7.1610.2433.9526.31GBXCommodity & EnergyBuy
Amundi ETF MSCI Europe Ex UK GBP-2.2910.6133.8958.41GBXEquity - Europe ex UKBuy
Amundi ETF MSCI Europe Healthcare GBP-8.24-3.907.9245.91GBXEquity - Pharma Health & BiotechBuy
Amundi ETF MSCI Germany GBP-0.779.2133.4460.72GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Italy GBP0.2625.3830.1648.66GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Spain GBP-7.3911.4518.6941.01GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Europe Minimum Volatility Factor UCITS ETF GBP-4.306.6428.8157.74GBXEquity - Europe inc UKBuy
BMO Enhanced Income Euro Equity UCITS ETF-2.17---GBPEquity - Europe ex UKBuy
BMO MSCI Europe ex-UK Income Leaders GBP Hedged0.296.03--GBPEquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Leverage Daily ETP-1.7915.40-14.4588.41EUREquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Short Daily ETP-5.58-27.11-63.76-91.35EUREquity - Europe ex UKBuy
ETFS DAX Daily 2x Long GO UCITS ETF GBP0.3513.4332.34103.16GBPEquity - Europe Single CountryBuy
ETFS DAX Daily 2x Short GO UCITS ETF GBP-10.67-13.74-37.39-78.70GBPEquity - Europe Single CountryBuy
Fidelity Europe Quality Income UCITS ETF Hedged Acc GBP----GBPEquity - Europe inc UKBuy
First Trust Eurozone AlphaDEX UCITS ETF A Acc Nav GBP3.0020.2859.84-GBPEquity - Europe ex UKBuy
HSBC Euro Stoxx 50 X GBP-3.839.8828.6153.41GBXEquity - Europe ex UKBuy
HSBC MSCI Europe NAV GBP----GBPEquity - Europe inc UKBuy
HSBC MSCI Russia Capped GBX18.345.2664.137.30GBXEquity - Europe Single CountryBuy
HSBC MSCI Turkey GBP-8.5112.15-0.52-18.40GBXEquity - Europe Single CountryBuy
LYXOR FTSE Europe Minimum Variance UCITS ETF C GBP-0.5811.93--GBPEquity - Europe inc UKBuy

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 0.1P14.8120.7983.59116.00-2.594.42VCT 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 0.1P14.0232.9283.23114.90-2.524.46VCT Specialist: EnvironmentalBuy

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