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 Acc35.8539.30116.6973.192.00Buy
AXA Pan European High Yield Bond Z Gross Acc9.8917.8056.6326.505.83Buy
AXA Pan European High Yield Bond Z Acc9.0214.2147.5526.504.99Buy
AXA Rosenberg European Z Acc34.3132.63111.5620.712.85Buy
Aberdeen Euro Corporate Bond I Acc14.7012.9031.7526.711.40Buy
Aberdeen European Equity I Acc33.6930.9985.90241.951.60Buy
Aberdeen European High Yield Bond I Acc7.8514.2547.36102.616.20Buy
Aberdeen European Property Share I Acc14.3240.35104.4872.223.10Buy
Aberdeen European Smaller Companies Equity I Acc39.1139.1997.0994.541.10Buy
Aberdeen Global European Equity Ex UK R2 GBP33.4327.7583.28116.581.50Buy
Alken Absolute Return Europe GB1 GBP8.7713.09-1,069.74-Buy
Alken European Opportunities GB1---2,336.00-Buy
Allianz Continental European C34.9553.16113.78134.710.88Buy
Allianz European Equity Income C Acc33.0528.59100.6925.653.13Buy
Artemis European Growth I Acc37.5938.85140.90184.991.53Buy
Artemis European Opportunities I Hedged Acc20.2235.83111.43337.741.52Buy
Artemis European Opportunities I Acc34.4646.16128.51337.741.46Buy
Artemis Pan-European Absolute Return I Hedged Acc GBP10.84--129.81-Buy
Baillie Gifford European B Acc44.2152.14143.05278.601.08Buy
Barclays Europe (ex-UK) Alpha R Acc GBP18.9825.97105.0239.801.40Buy

OEICs and Unit Trusts

Name1 Year (%)3 Years (%)5 Years (%)Fund Size (M)Yield (%)
AXA Framlington European Z Inc35.2038.50112.0573.192.06Buy
AXA Pan European High Yield Bond Z Gross Inc9.8317.7056.6626.506.00Buy
AXA Pan European High Yield Bond Z Inc8.9914.2047.7826.504.90Buy
Aberdeen Euro Corporate Bond I Inc14.7112.8631.6026.711.40Buy
Aberdeen European High Yield Bond I Inc7.8414.2447.35102.616.20Buy
Aberdeen European Property Share I Inc14.2940.31104.3072.223.10Buy
Aberdeen Global Select Euro High Yield Bond R1 GBP21.1921.9162.461,048.975.01Buy
Allianz Europe Equity Growth P GBP32.1750.89113.856,613.19-Buy
Allianz European Equity Income C Inc32.5026.1495.7325.652.80Buy
Artemis European Opportunities I Inc34.4846.17128.59337.741.48Buy
Artemis European Opportunities I Hedged Inc20.6835.58110.91337.741.55Buy
Baillie Gifford European B Inc44.3052.07143.07278.601.08Buy
Barclays Europe (ex-UK) Alpha R Dis GBP18.9625.94104.4939.801.40Buy
Baring Europe Select I Inc GBP37.6266.56172.561,869.101.40Buy
Baring European Growth I Inc GBP39.1141.02128.3786.201.80Buy
Baring German Growth I Inc GBP42.9448.31138.03566.501.40Buy
Baring Russia R Inc GBP48.4439.9938.5050.90-Buy
BlackRock Continental European D Inc28.9741.40114.11516.131.03Buy
BlackRock Continental European Income D Inc26.6240.49136.511,552.863.79Buy
BlackRock European Dynamic FD Inc32.4250.01136.052,335.750.71Buy

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
AXA Property Trust Limited Ord NPV3.1152.9994.30-15.8668.93Buy
Adams PLC Ord EUR0.0110.004.76573.98--Buy
Alcentra European Floating Rate Income Limited Ord8.608.8929.92-2.79104.41Buy
Alpha Pyrenees--98.09-99.46-95.832.40Buy
Axiom European Financial Debt Fund Limited Ord13.35--1.26100.24Buy
BlackRock Greater Europe IT31.4134.99113.57-3.75321.56Buy
Bluefield Solar Income Limited21.6738.87-10.64105.07Buy
CVC Credit Partners European Opportunities Limited Ord EUR14.8521.22-1.861.08Buy
Dolphin Capital Investors-10.79-81.39-63.51-68.3522.19Buy
Dunedin Enterprise IT plc14.01-6.1131.27-29.79503.30Buy
European Assets Trust30.6057.61208.37--Buy
European Real Estate Investment Trust Limited22.5880.5652.23-9.50179.00Buy
Fidelity European Values PLC35.7050.23135.04-7.12231.49Buy
Gresham House Strategic Plc 50P7.89-12.3054.33-27.691,182.40Buy
Hammerson plc7.678.5864.49--Buy
Hansteen Holdings PLC25.5545.03126.17-1.86128.90Buy
Henderson Euro Trust35.0042.83175.04-1.461,155.90Buy
Henderson European Focus Trust Ord 50P44.0547.60207.770.541,336.30Buy
JP Morgan European IT Growth30.8441.25143.53-8.97326.41Buy
JP Morgan European IT Income44.6748.93167.43-4.67170.73Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
Amundi ETF MSCI Europe Energy GBP12.5338.684.7437.55GBXCommodity & EnergyBuy
Amundi ETF MSCI Europe Ex UK GBP18.9138.1835.23113.09GBXEquity - Europe ex UKBuy
Amundi ETF MSCI Europe Healthcare GBP17.0127.7233.35116.26GBXEquity - Pharma Health & BiotechBuy
Amundi ETF MSCI France GBP20.2742.8139.29123.31GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Germany GBP17.6741.9135.54111.25GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Italy GBP31.2240.0015.3486.21GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Spain GBP28.2144.7717.67105.67GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Europe Minimum Volatility Factor UCITS ETF GBP15.3424.9838.52137.04GBXEquity - Europe inc UKBuy
DB X-Trackers DAX UCITS ETF (DR) - Income 1D GBP17.2042.5635.16-GBPEquity - Europe Single CountryBuy
DB X-Trackers MSCI Nordic Index UCITS ETF (DR) 1D GBP17.8231.1028.92-GBXEquity - Europe Single CountryBuy
ETFS DAX Daily 2x Long GO UCITS ETF GBP37.1276.7649.68219.91GBPEquity - Europe Single CountryBuy
ETFS DAX Daily 2x Short GO UCITS ETF GBP-30.83-39.35-60.33-86.47GBPEquity - Europe Single CountryBuy
HSBC Euro Stoxx 50 X GBP20.8541.8130.95111.68GBXEquity - Europe ex UKBuy
HSBC MSCI Russia Capped GBX1.9137.7512.6215.98GBXEquity - Europe Single CountryBuy
HSBC MSCI Turkey GBP15.9620.59-0.2215.49GBXEquity - Europe Single CountryBuy
LYXOR Msci Europe Dr GBP17.5834.9431.84-GBXEquity - Europe inc UKBuy
LYXOR UCITS ETF SG European Quality Income NTR D GBP14.5620.6122.01-GBXEquity - Europe inc UKBuy
Lyxor UCITS ETF EuroMTS All-Maturity Investment Grade (DR) GBP-0.0711.11--GBXFixed Int - EUR GovernmentBuy
Lyxor UCITS ETF Russia DowJones Russia GDR D GBP-3.2133.02-0.26-GBPEquity - Europe Single CountryBuy
Lyxor UCITS ETF Turkey (DJ TURKEY TITANS 20) GBP17.1422.991.12-GBXEquity - Europe Single CountryBuy

VCTs

Name1 Year (%)3 Years (%)5 Years (%)NAVDiscountNDYSector
Hazel Renewable Energy VCT1 PLC Ord 0.1P-3.2910.3458.04118.10-12.794.85VCT Specialist EnvironmentalBuy
Hazel Renewable Energy VCT1 PLC A Shs 0.1P-0.508,668.410.104,950.00-VCT 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-3.2910.8958.84117.30-12.194.85VCT Specialist EnvironmentalBuy
KW Europe Real Estate PLC Ord NPV0.0812.41---4.66Property - Direct EuropeBuy

Disclaimer

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