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 Acc18.8242.2387.2669.531.75Buy
AXA Pan European High Yield Bond Z Gross Acc7.2220.1247.5825.305.83Buy
AXA Pan European High Yield Bond Z Acc6.7116.9039.8925.304.99Buy
AXA Rosenberg European Z Acc21.6738.2686.7121.031.63Buy
Aberdeen Euro Corporate Bond I Acc4.6020.9031.8027.821.00Buy
Aberdeen European Equity I Acc16.9837.4868.51207.691.30Buy
Aberdeen European High Yield Bond I Acc7.3117.5640.6192.635.60Buy
Aberdeen European Property Share I Acc9.9343.9888.3380.683.20Buy
Aberdeen European Smaller Companies Equity I Acc26.4349.5978.4090.710.70Buy
Aberdeen Global European Equity Ex UK R2 GBP17.1334.0066.9487.741.50Buy
Alken Absolute Return Europe GB1 GBP17.7317.6646.80978.72-Buy
Alken European Opportunities GB1---2,386.00-Buy
Allianz Continental European C20.3560.5595.77141.330.93Buy
Allianz European Equity Income C Acc22.8636.2985.7525.933.44Buy
Artemis European Growth I Acc27.9348.12127.10202.631.42Buy
Artemis European Opportunities I Hedged Acc18.3834.1787.46375.741.50Buy
Artemis European Opportunities I Acc21.9053.68108.44375.741.40Buy
Artemis Pan-European Absolute Return I Hedged Acc GBP8.2520.80-156.00-Buy
Baillie Gifford European B Acc27.4468.37127.77390.261.00Buy
Barclays Europe (ex-UK) Alpha R Acc GBP17.0231.2784.1142.301.40Buy

OEICs and Unit Trusts

Name1 Year (%)3 Years (%)5 Years (%)Fund Size (M)Yield (%)
AXA Framlington European Z Inc18.9242.0184.1169.531.78Buy
AXA Pan European High Yield Bond Z Gross Inc7.2320.1447.6525.306.00Buy
AXA Pan European High Yield Bond Z Inc6.7116.8940.0925.304.90Buy
Aberdeen Euro Corporate Bond I Inc4.5920.8531.7827.821.00Buy
Aberdeen European High Yield Bond I Inc7.3117.5640.6092.635.60Buy
Aberdeen European Property Share I Inc10.1444.0288.2280.683.20Buy
Aberdeen Global Select Euro High Yield Bond R1 GBP11.1034.1658.851,058.894.65Buy
Allianz Europe Equity Growth P GBP16.9551.4293.586,750.67-Buy
Allianz European Equity Income C Inc22.2433.4080.7425.933.00Buy
Artemis European Opportunities I Inc21.9053.70108.45375.741.42Buy
Artemis European Opportunities I Hedged Inc18.5433.8286.92375.741.53Buy
Baillie Gifford European B Inc27.4768.31127.66390.261.00Buy
Barclays Europe (ex-UK) Alpha R Dis GBP16.9831.2083.5942.301.40Buy
Baring Europe Select I Inc GBP22.4279.69151.352,046.101.40Buy
Baring European Growth I Inc GBP29.8650.09109.0492.001.80Buy
Baring German Growth I Inc GBP32.0766.03130.40612.301.40Buy
Baring Russia R Inc GBP24.3451.3727.7546.70-Buy
BlackRock Continental European D Inc21.6453.02101.36470.800.96Buy
BlackRock Continental European Income D Inc19.1249.33116.161,717.963.68Buy
BlackRock European Dynamic FD Inc27.2561.88125.982,532.680.66Buy

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
AXA Property Trust Limited Ord NPV6.7155.84128.01-11.8667.65Buy
Adams PLC Ord EUR0.0112.15-17.13451.45--Buy
Alcentra European Floating Rate Income Limited Ord7.219.5229.91-3.71104.89Buy
Alpha Pyrenees-23.33-95.40-99.41-95.212.40Buy
Axiom European Financial Debt Fund Limited Ord8.29---3.22100.23Buy
BlackRock Greater Europe IT21.0049.1195.56-3.97340.66Buy
Bluefield Solar Income Limited14.7533.67-10.06104.26Buy
CVC Credit Partners European Opportunities Limited Ord GBP15.2922.17--0.88111.98Buy
CVC Credit Partners European Opportunities Limited Ord EUR17.6121.55-1.251.10Buy
Chenavari Capital Solutions Limited Red Ord NPV Inc GBP14.437.22--4.1594.42Buy
Dunedin Enterprise IT plc21.924.2319.47-27.18515.00Buy
European Assets Trust25.7662.13162.651.571,260.27Buy
European Real Estate Investment Trust Limited11.4491.57124.409.83173.00Buy
Fidelity European Values PLC27.4446.63107.55-8.49239.87Buy
Gresham House Strategic Plc 50P1.17-4.45-2.79-21.411,076.50Buy
Greencoat Renewables PLC ORD EUR0.01-----Buy
Hammerson plc-1.11-1.1938.11--Buy
Hansteen Holdings PLC21.0750.75120.430.30132.50Buy
Henderson Euro Trust28.5752.02142.56-2.851,198.10Buy
HgCapital Trust plc Ord20.7971.7695.470.601,655.00Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
Amundi ETF MSCI Europe Energy GBP1.8520.079.3319.31GBXCommodity & EnergyBuy
Amundi ETF MSCI Europe Ex UK GBP6.7722.5739.6985.42GBXEquity - Europe ex UKBuy
Amundi ETF MSCI Europe Healthcare GBP0.495.9819.8282.12GBXEquity - Pharma Health & BiotechBuy
Amundi ETF MSCI Germany GBP5.6023.2341.7784.10GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Italy GBP15.8941.7624.6460.70GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Spain GBP5.6929.7315.2363.67GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Europe Minimum Volatility Factor UCITS ETF GBP4.8610.5338.79102.90GBXEquity - Europe inc UKBuy
BMO MSCI Europe ex-UK Income Leaders GBP Hedged5.2517.84--GBPEquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Leverage Daily ETP11.4074.207.64-EUREquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Short Daily ETP-18.50-52.19-75.12-EUREquity - Europe ex UKBuy
DB X-Trackers II Iboxx Sovereigns Eurozone UCITS ETF 1C EUR2.03-2.537.4023.72EURFixed Int - EUR GovernmentBuy
DB X-Trackers MSCI Russia Capped Index UCITS ETF 1D GBP-5.5113.3718.96-2.97GBPEquity - Europe Single CountryBuy
DB X-Trackers STOXX Europe 600 Oil & Gas UCITS ETF 1C GBP-0.4215.818.0614.21GBPCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Utilities UCITS ETF 1C GBP12.2613.5718.2248.40GBPEquity - Other SpecialistBuy
DB X-Trackers Stoxx Europe 600 Basic Resources UCITS ETF 1C GBP1.2345.0124.5617.97GBPCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Banks UCITS ETF 1C GBP6.8440.593.7045.21GBPEquity - FinancialBuy
DB X-Trackers STOXX Europe 600 Food & Beverage UCITS ETF 1C GBP5.818.5444.8677.97GBPEquity - Other SpecialistBuy
DB X-Trackers STOXX Europe 600 Health Care UCITS ETF 1C GBP1.086.0525.3788.13GBPEquity - Pharma Health & BiotechBuy
DB X-Trackers Stoxx Europe 600 Technology UCITS ETF 1C GBP9.0626.2767.18138.41GBPEquity - Tech Media & TelecomBuy
DB X-Trackers Stoxx Europe 600 Telecommunication UCITS ETF 1C GBP-0.865.5818.9151.87GBPEquity - 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 0.1P5.6326.6983.28116.40-7.654.65VCT 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 0.1P1.4122.2476.83115.50-10.824.85VCT Specialist EnvironmentalBuy
KW Europe Real Estate PLC Ord NPV24.0110.86---4.40Property - Direct EuropeBuy

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