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 Acc26.2827.0680.6970.302.08Buy
AXA Pan European High Yield Bond Z Gross Acc14.0519.7555.4527.005.83Buy
AXA Pan European High Yield Bond Z Acc12.8215.6346.2227.004.99Buy
AXA Rosenberg European Z Acc28.7323.9369.5219.513.28Buy
Aberdeen Euro Corporate Bond I Acc12.6012.1525.0928.040.30Buy
Aberdeen European Equity I Acc26.0828.0254.44267.181.70Buy
Aberdeen European High Yield Bond I Acc11.7716.1744.06112.556.40Buy
Aberdeen European Property Share I Acc13.1034.2290.1168.003.20Buy
Aberdeen European Smaller Companies Equity I Acc29.4527.2960.81112.401.20Buy
Aberdeen Global European Equity Ex UK R2 GBP25.7224.3951.07117.881.50Buy
Alken Absolute Return Europe GB1 GBP3.883.89-1,086.20-Buy
Alken European Opportunities GB1---2,194.00-Buy
Alliance Trust Sustainable Future European Growth 2 Acc24.4430.9479.52165.731.47Buy
Allianz Continental European C23.7140.3681.89122.240.97Buy
Allianz European Equity Income C Acc21.2722.9164.1523.953.64Buy
Artemis European Growth I Acc29.9228.8094.64196.571.55Buy
Artemis European Opportunities I Hedged Acc11.6724.1981.47300.091.39Buy
Artemis European Opportunities I Acc21.8631.5785.48300.091.28Buy
Artemis Pan-European Absolute Return I Hedged Acc GBP9.03--83.500.09Buy
Baillie Gifford European B Acc32.8942.6197.58201.771.26Buy

OEICs and Unit Trusts

Name1 Year (%)3 Years (%)5 Years (%)Fund Size (M)Yield (%)
AXA Framlington European Z Inc26.3326.1977.3570.302.08Buy
AXA Pan European High Yield Bond Z Gross Inc13.9019.4855.3227.006.00Buy
AXA Pan European High Yield Bond Z Inc12.8215.6846.4627.004.90Buy
Aberdeen Euro Corporate Bond I Inc12.5812.0824.9928.040.30Buy
Aberdeen European High Yield Bond I Inc11.7716.1744.06112.556.40Buy
Aberdeen European Property Share I Inc13.0534.1089.4768.003.20Buy
Aberdeen Global Select Euro High Yield Bond R1 GBP21.2021.2348.950.634.97Buy
Allianz Europe Equity Growth P GBP24.2040.2283.186,613.19-Buy
Allianz European Equity Income C Inc20.6420.6160.0823.953.07Buy
Artemis European Opportunities I Inc21.8431.5785.49300.091.29Buy
Artemis European Opportunities I Hedged Inc12.2623.8480.90300.091.42Buy
Baillie Gifford European B Inc32.9142.6197.48201.771.26Buy
Barclays Europe (ex-UK) Alpha R Dis GBP12.7117.6569.7238.301.40Buy
Baring Europe Select I Inc GBP27.5148.15125.001,650.301.40Buy
Baring European Growth I Inc GBP27.7926.6077.4681.001.80Buy
Baring German Growth I Inc GBP32.9435.3695.58441.271.40Buy
Baring Russia R Inc GBP84.6140.3618.7646.00-Buy
BlackRock Continental European D Inc21.3227.9782.19479.281.39Buy
BlackRock Continental European Income D Inc16.9332.3097.151,450.424.24Buy
BlackRock European Dynamic FD Inc23.3932.4697.222,104.961.21Buy

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
AXA Property Trust Limited Ord NPV13.7677.6596.75-13.1771.40Buy
Adams PLC Ord EUR0.0115.009.52794.32--Buy
Alcentra European Floating Rate Income Limited Ord10.539.15--2.85104.99Buy
Alpha Pyrenees-25.00-98.70-99.66-96.882.40Buy
Axiom European Financial Debt Fund Limited Ord-0.37---2.8697.80Buy
BlackRock Greater Europe IT19.3523.3172.93-5.28301.41Buy
Bluefield Solar Income Limited21.7830.01-3.74105.07Buy
CVC Credit Partners European Opportunities Limited Ord EUR17.6219.83-0.911.07Buy
Dolphin Capital Investors-29.57-77.50-61.20-72.1529.09Buy
Duet Real Estate Finance Limited Ord-88.45-82.04-81.06-92.056.92Buy
Dunedin Enterprise IT plc0.56-12.596.37-29.39473.00Buy
European Assets Trust14.4133.14148.35--Buy
European Real Estate Investment Trust Limited17.2566.8422.67-28.00225.00Buy
Fidelity European Values PLC18.9930.8884.05-12.18213.74Buy
Gresham House Strategic Plc 50P2.02-5.6248.46-25.451,103.30Buy
Hammerson plc9.8910.1277.52--Buy
Hansteen Holdings PLC17.7022.41110.341.38116.00Buy
Henderson Euro Trust24.6337.20117.11-5.341,062.80Buy
Henderson European Focus Trust Ord 50P28.7241.94142.12-0.531,218.00Buy
JP Morgan European IT Growth21.4825.4294.72-11.23301.07Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
Amundi ETF MSCI Europe Energy GBP11.5042.248.198.87GBXCommodity & EnergyBuy
Amundi ETF MSCI Europe Ex UK GBP7.6827.0524.8366.12GBXEquity - Europe ex UKBuy
Amundi ETF MSCI Europe Healthcare GBP0.0316.0125.2387.25GBXEquity - Pharma Health & BiotechBuy
Amundi ETF MSCI Italy GBP8.7819.50-1.4421.66GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Spain GBP11.5228.264.6330.67GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Europe Minimum Volatility Factor UCITS ETF GBP0.2415.7932.7382.25GBXEquity - Europe inc UKBuy
DB X-Trackers MSCI Russia Capped Index UCITS ETF 1D GBP22.4172.0418.26-4.01GBXEquity - Europe Single CountryBuy
DB X-Trackers STOXX Europe 600 Oil & Gas UCITS ETF 1C GBP10.4341.008.126.12GBXCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Utilities UCITS ETF 1C GBP-4.2211.278.2332.04GBXEquity - Other SpecialistBuy
DB X-Trackers Stoxx Europe 600 Basic Resources UCITS ETF 1C GBP35.1894.9115.00-0.51GBXCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Banks UCITS ETF 1C GBP24.5236.56-4.1229.84GBXEquity - FinancialBuy
DB X-Trackers STOXX Europe 600 Food & Beverage UCITS ETF 1C GBP-3.2613.9940.0774.52GBXEquity - Other SpecialistBuy
DB X-Trackers STOXX Europe 600 Health Care UCITS ETF 1C GBP0.4017.6630.9490.88GBXEquity - Pharma Health & BiotechBuy
DB X-Trackers Stoxx Europe 600 Technology UCITS ETF 1C GBP9.2734.8948.57101.02GBXEquity - Tech Media & TelecomBuy
DB X-Trackers Stoxx Europe 600 Telecommunication UCITS ETF 1C GBP-2.093.7612.0647.00GBXEquity - Tech Media & TelecomBuy
DB X-Trackers Stoxx Europe 600 Industrial Goods UCITS ETF 1C GBP7.5233.7328.2671.91GBXEquity - Other SpecialistBuy
DB X-Trackers DAX UCITS ETF (DR) - Income 1D GBP11.5737.3026.21-GBPEquity - Europe Single CountryBuy
DB X-Trackers Euro Stoxx 50 ex Financials UCITS ETF (DR) 1D GBP7.2227.6325.59-GBXEquity - Europe ex UKBuy
DB X-Trackers EURO Stoxx 50 Short Daily UCITS ETF 1C GBP-13.89-14.87-27.16-52.10GBXEquity - Europe ex UKBuy
DB X-Trackers EURO Stoxx Select Dividend 30 UCITS ETF (DR) 1D GBP10.1630.4533.6668.24GBXEquity - 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-3.2915.7257.17--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-3.2916.3057.96--4.85VCT Specialist EnvironmentalBuy
KW Europe Real Estate PLC Ord NPV-3.59----4.90Property - Direct EuropeBuy

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