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 Acc24.7429.6586.1470.202.08Buy
AXA Pan European High Yield Bond Z Gross Acc10.1118.5350.8727.005.83Buy
AXA Pan European High Yield Bond Z Acc9.0614.6941.9327.004.99Buy
AXA Rosenberg European Z Acc27.4327.2276.4020.113.26Buy
Aberdeen Euro Corporate Bond I Acc11.9712.2227.1026.880.30Buy
Aberdeen European Equity I Acc23.9228.0758.60250.991.70Buy
Aberdeen European High Yield Bond I Acc8.6315.1239.58106.026.20Buy
Aberdeen European Property Share I Acc7.7936.0781.6567.493.10Buy
Aberdeen European Smaller Companies Equity I Acc26.2828.4966.8599.951.20Buy
Aberdeen Global European Equity Ex UK R2 GBP24.1224.7255.61117.321.50Buy
Alken Absolute Return Europe GB1 GBP4.094.03-1,072.11-Buy
Alken European Opportunities GB1---2,240.00-Buy
Alliance Trust Sustainable Future European Growth 2 Acc25.0033.3186.56170.401.43Buy
Allianz Continental European C25.3143.7986.41126.120.94Buy
Allianz European Equity Income C Acc20.2725.9372.5224.643.30Buy
Artemis European Growth I Acc26.7429.8098.08195.341.53Buy
Artemis European Opportunities I Hedged Acc11.3625.4579.95305.961.38Buy
Artemis European Opportunities I Acc22.8633.7191.04305.961.24Buy
Artemis Pan-European Absolute Return I Hedged Acc GBP7.97--97.10-Buy
Baillie Gifford European B Acc31.5341.52103.53210.961.23Buy

OEICs and Unit Trusts

Name1 Year (%)3 Years (%)5 Years (%)Fund Size (M)Yield (%)
AXA Framlington European Z Inc24.7228.9482.7670.202.08Buy
AXA Pan European High Yield Bond Z Gross Inc10.0518.4250.8727.006.00Buy
AXA Pan European High Yield Bond Z Inc9.0214.6742.1427.004.90Buy
Aberdeen Euro Corporate Bond I Inc11.9612.2226.9326.880.30Buy
Aberdeen European High Yield Bond I Inc8.6315.1139.58106.026.20Buy
Aberdeen European Property Share I Inc7.7535.9881.0667.493.10Buy
Aberdeen Global Select Euro High Yield Bond R1 GBP19.6120.7849.761,039.985.01Buy
Allianz Europe Equity Growth P GBP24.2943.5587.026,613.19-Buy
Allianz European Equity Income C Inc19.7623.6368.3424.642.95Buy
Artemis European Opportunities I Inc22.8733.7291.07305.961.25Buy
Artemis European Opportunities I Hedged Inc11.7625.2779.55305.961.41Buy
Baillie Gifford European B Inc31.5641.52103.43210.961.23Buy
Barclays Europe (ex-UK) Alpha R Dis GBP12.9019.6773.6138.301.40Buy
Baring Europe Select I Inc GBP27.5649.95132.941,674.001.40Buy
Baring European Growth I Inc GBP27.2729.6086.4881.101.80Buy
Baring German Growth I Inc GBP30.6438.96101.31439.591.40Buy
Baring Russia R Inc GBP57.9457.1218.0752.90-Buy
BlackRock Continental European D Inc21.2728.7586.19498.791.28Buy
BlackRock Continental European Income D Inc17.9035.54103.521,489.353.98Buy
BlackRock European Dynamic FD Inc22.9631.77100.742,161.730.95Buy

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
AXA Property Trust Limited Ord NPV13.0873.5098.17-12.2368.93Buy
Adams PLC Ord EUR0.0115.009.52394.73--Buy
Alcentra European Floating Rate Income Limited Ord5.668.7229.48-1.83104.92Buy
Alpha Pyrenees233.44-98.18-99.57-95.832.40Buy
Axiom European Financial Debt Fund Limited Ord7.29---0.5798.06Buy
BlackRock Greater Europe IT22.6527.2480.39-3.71308.45Buy
Bluefield Solar Income Limited18.2830.91-4.69105.07Buy
CVC Credit Partners European Opportunities Limited Ord EUR17.2416.61--1.491.08Buy
Dolphin Capital Investors-3.03-80.00-65.22-72.5029.09Buy
Dunedin Enterprise IT plc7.74-9.327.16-33.59503.30Buy
European Assets Trust12.8435.11157.85--Buy
European Real Estate Investment Trust Limited11.6856.9522.92-29.56225.00Buy
Fidelity European Values PLC19.1632.3085.67-12.90221.71Buy
Gresham House Strategic Plc 50P5.75-9.1154.34-22.601,069.10Buy
Hammerson plc3.8614.1259.34--Buy
Hansteen Holdings PLC21.8929.78106.57-8.07128.90Buy
Henderson Euro Trust21.0139.40117.61-5.871,094.20Buy
Henderson European Focus Trust Ord 50P37.2846.38153.470.911,268.40Buy
JP Morgan European IT Growth21.6133.9998.71-9.77310.32Buy
JP Morgan European IT Income21.9840.89112.30-9.01164.03Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
Amundi ETF MSCI Europe Energy GBP14.6633.2410.7413.93GBXCommodity & EnergyBuy
Amundi ETF MSCI Europe Ex UK GBP10.7025.6329.4974.27GBXEquity - Europe ex UKBuy
Amundi ETF MSCI Europe Healthcare GBP2.7317.4228.4393.39GBXEquity - Pharma Health & BiotechBuy
Amundi ETF MSCI Italy GBP19.6218.923.1834.19GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Spain GBP19.2430.9915.7451.63GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Europe Minimum Volatility Factor UCITS ETF GBP2.8215.9536.6787.02GBXEquity - Europe inc UKBuy
DB X-Trackers MSCI Russia Capped Index UCITS ETF 1D GBP16.3242.2832.81-4.29GBXEquity - Europe Single CountryBuy
DB X-Trackers STOXX Europe 600 Oil & Gas UCITS ETF 1C GBP14.8233.3812.1312.67GBXCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Utilities UCITS ETF 1C GBP-0.5612.298.9035.20GBXEquity - Other SpecialistBuy
DB X-Trackers Stoxx Europe 600 Basic Resources UCITS ETF 1C GBP30.6073.0421.287.84GBXCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Banks UCITS ETF 1C GBP23.7030.410.6136.64GBXEquity - FinancialBuy
DB X-Trackers STOXX Europe 600 Food & Beverage UCITS ETF 1C GBP-2.3413.3343.7076.12GBXEquity - Other SpecialistBuy
DB X-Trackers STOXX Europe 600 Health Care UCITS ETF 1C GBP2.5319.8434.6297.10GBXEquity - Pharma Health & BiotechBuy
DB X-Trackers Stoxx Europe 600 Technology UCITS ETF 1C GBP9.2032.8150.57104.78GBXEquity - Tech Media & TelecomBuy
DB X-Trackers Stoxx Europe 600 Telecommunication UCITS ETF 1C GBP-0.122.6316.8250.20GBXEquity - Tech Media & TelecomBuy
DB X-Trackers Stoxx Europe 600 UCITS ETF (DR) 1C GBP9.2024.0328.0668.75GBXEquity - Europe inc UKBuy
DB X-Trackers Stoxx Europe 600 Industrial Goods UCITS ETF 1C GBP9.5129.5331.4079.56GBXEquity - Other SpecialistBuy
DB X-Trackers DAX UCITS ETF (DR) - Income 1D GBP13.0230.7131.23-GBPEquity - Europe Single CountryBuy
DB X-Trackers Euro Stoxx 50 ex Financials UCITS ETF (DR) 1D GBP9.9825.6929.31-GBXEquity - Europe ex UKBuy
DB X-Trackers EURO Stoxx 50 Short Daily UCITS ETF 1C GBP-10.80-9.44-27.85-50.09GBXEquity - Europe ex UKBuy

VCTs

Name1 Year (%)3 Years (%)5 Years (%)NAVDiscountNDYSector
Hazel Renewable Energy VCT1 PLC A Shs 0.1P-0.508,668.41---VCT Specialist EnvironmentalBuy
Hazel Renewable Energy VCT1 PLC Ord 0.1P-3.2910.3458.04--4.85VCT Specialist EnvironmentalBuy
Hazel Renewable Energy VCT2 PLC A Shs 0.1P-0.508,668.41---VCT Specialist EnvironmentalBuy
Hazel Renewable Energy VCT2 PLC Ord 0.1P-3.2910.8958.84--4.85VCT Specialist EnvironmentalBuy
KW Europe Real Estate PLC Ord NPV-14.51-1.03---5.07Property - Direct EuropeBuy

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