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 Acc23.0947.45108.2571.011.79Buy
AXA Pan European High Yield Bond Z Gross Acc8.8019.0354.5326.105.83Buy
AXA Pan European High Yield Bond Z Acc8.1315.5745.9526.104.99Buy
AXA Rosenberg European Z Acc26.6242.22110.0921.402.71Buy
Aberdeen Euro Corporate Bond I Acc6.7320.4637.9127.751.30Buy
Aberdeen European Equity I Acc23.0041.7982.50247.931.50Buy
Aberdeen European High Yield Bond I Acc7.8515.6146.8797.556.00Buy
Aberdeen European Property Share I Acc13.6844.9995.6477.653.00Buy
Aberdeen European Smaller Companies Equity I Acc29.2647.1186.8396.361.10Buy
Aberdeen Global European Equity Ex UK R2 GBP22.7338.0980.6189.981.50Buy
Alken Absolute Return Europe GB1 GBP23.4413.1452.851,056.81-Buy
Alken European Opportunities GB1---2,364.00-Buy
Allianz Continental European C23.1060.41107.68143.630.85Buy
Allianz European Equity Income C Acc27.1635.2199.1926.233.09Buy
Artemis European Growth I Acc33.2547.35147.40191.771.43Buy
Artemis European Opportunities I Hedged Acc20.5737.69101.22364.061.50Buy
Artemis European Opportunities I Acc26.7657.63130.04364.061.39Buy
Artemis Pan-European Absolute Return I Hedged Acc GBP9.5322.60-160.56-Buy
Baillie Gifford European B Acc31.8665.01143.01349.511.00Buy
Barclays Europe (ex-UK) Alpha R Acc GBP17.6833.82102.9541.401.40Buy

OEICs and Unit Trusts

Name1 Year (%)3 Years (%)5 Years (%)Fund Size (M)Yield (%)
AXA Framlington European Z Inc23.0946.90104.2971.011.83Buy
AXA Pan European High Yield Bond Z Gross Inc8.8118.9854.6226.106.00Buy
AXA Pan European High Yield Bond Z Inc8.0815.5446.2926.104.90Buy
Aberdeen Euro Corporate Bond I Inc6.7320.4637.8427.751.30Buy
Aberdeen European High Yield Bond I Inc7.8415.5946.8697.556.00Buy
Aberdeen European Property Share I Inc13.6644.9595.4877.653.00Buy
Aberdeen Global Select Euro High Yield Bond R1 GBP14.5131.2671.671,036.284.65Buy
Allianz Europe Equity Growth P GBP19.3753.53103.586,613.19-Buy
Allianz European Equity Income C Inc26.5032.2493.9426.232.69Buy
Artemis European Opportunities I Inc26.7557.64130.05364.061.41Buy
Artemis European Opportunities I Hedged Inc20.5137.38100.76364.061.52Buy
Baillie Gifford European B Inc31.7764.91142.87349.511.00Buy
Barclays Europe (ex-UK) Alpha R Dis GBP17.6533.77102.4141.401.40Buy
Baring Europe Select I Inc GBP30.1480.67173.402,031.101.40Buy
Baring European Growth I Inc GBP33.7755.72129.8389.901.80Buy
Baring German Growth I Inc GBP37.1861.46141.78594.401.40Buy
Baring Russia R Inc GBP25.9036.3726.4247.30-Buy
BlackRock Continental European D Inc22.1453.34113.75472.590.98Buy
BlackRock Continental European Income D Inc19.5450.24134.291,643.403.96Buy
BlackRock European Dynamic FD Inc27.1164.69138.902,474.700.67Buy

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
AXA Property Trust Limited Ord NPV4.8753.46103.05-11.1366.67Buy
Adams PLC Ord EUR0.015.8212.15488.92--Buy
Alcentra European Floating Rate Income Limited Ord14.299.8431.83-2.50105.13Buy
Alpha Pyrenees25.02-97.89-99.35-95.832.40Buy
Axiom European Financial Debt Fund Limited Ord11.22---1.8499.33Buy
BlackRock Greater Europe IT20.4446.42111.40-5.54335.34Buy
Bluefield Solar Income Limited25.1935.12-9.82104.26Buy
CVC Credit Partners European Opportunities Limited Ord GBP20.1423.31-2.55111.65Buy
CVC Credit Partners European Opportunities Limited Ord EUR17.6820.31-2.271.10Buy
Dunedin Enterprise IT plc11.18-5.7121.09-30.55506.10Buy
European Assets Trust36.5367.07211.61--Buy
European Real Estate Investment Trust Limited8.1568.3386.26-8.66179.00Buy
Fidelity European Values PLC30.6456.12124.10-7.95239.88Buy
Gresham House Strategic Plc 50P20.67-8.7617.59-17.811,119.40Buy
Hammerson plc13.297.3450.31--Buy
Hansteen Holdings PLC27.9044.08136.93-0.31128.90Buy
Henderson Euro Trust34.8549.65164.65-4.611,198.30Buy
Henderson European Focus Trust Ord 50P42.2258.94201.071.371,377.20Buy
JP Morgan European IT Growth38.9052.07143.86-9.68341.00Buy
JP Morgan European IT Income35.1547.38152.44-9.96177.70Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
Amundi ETF MSCI Europe Energy GBP-4.3110.364.1722.94GBXCommodity & EnergyBuy
Amundi ETF MSCI Europe Ex UK GBP13.4627.4644.48112.26GBXEquity - Europe ex UKBuy
Amundi ETF MSCI Europe Healthcare GBP13.067.7733.8897.30GBXEquity - Pharma Health & BiotechBuy
Amundi ETF MSCI France GBP13.9731.9150.78120.42GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Germany GBP10.0529.6042.37111.65GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Italy GBP14.8737.7921.8495.43GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Spain GBP19.3638.8323.09126.57GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Europe Minimum Volatility Factor UCITS ETF GBP13.1614.6044.03133.19GBXEquity - Europe inc UKBuy
BMO MSCI Europe ex-UK Income Leaders GBP Hedged11.7119.14--GBPEquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Leverage Daily ETP24.4869.6215.22-EUREquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Short Daily ETP-27.09-51.57-77.09-EUREquity - Europe ex UKBuy
DB X-Trackers II Iboxx Sovereigns Eurozone UCITS ETF 1C EUR0.52-3.328.7425.38EURFixed Int - EUR GovernmentBuy
DB X-Trackers MSCI Russia Capped Index UCITS ETF 1D GBP-12.5411.219.59-2.00GBPEquity - Europe Single CountryBuy
DB X-Trackers STOXX Europe 600 Oil & Gas UCITS ETF 1C GBP-5.4210.222.7419.76GBPCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Utilities UCITS ETF 1C GBP14.348.5817.5164.99GBPEquity - Other SpecialistBuy
DB X-Trackers Stoxx Europe 600 Basic Resources UCITS ETF 1C GBP1.4047.4616.8829.25GBPCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Banks UCITS ETF 1C GBP14.8251.0513.1080.66GBPEquity - FinancialBuy
DB X-Trackers STOXX Europe 600 Food & Beverage UCITS ETF 1C GBP11.839.3847.2085.18GBPEquity - Other SpecialistBuy
DB X-Trackers STOXX Europe 600 Health Care UCITS ETF 1C GBP12.496.5137.3599.13GBPEquity - Pharma Health & BiotechBuy
DB X-Trackers Stoxx Europe 600 Technology UCITS ETF 1C GBP17.5328.2372.33159.47GBPEquity - 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 0.1P-3.2910.3467.80116.40-11.514.85VCT 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-3.2910.8968.64115.50-10.824.85VCT Specialist EnvironmentalBuy
KW Europe Real Estate PLC Ord NPV21.3717.50---4.22Property - Direct EuropeBuy

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