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 Acc1.4922.5454.3764.891.90Buy
AXA Pan European High Yield Bond Z Gross Acc4.1517.4634.4526.404.53Buy
AXA Pan European High Yield Bond Z Acc4.0615.0727.9226.404.45Buy
AXA Rosenberg European Z Acc4.8025.1359.8220.142.58Buy
Aberdeen Euro Corporate Bond I Acc5.1425.5416.6026.971.00Buy
Aberdeen European Equity I Acc9.4429.5747.98191.911.00Buy
Aberdeen European High Yield Bond I Acc4.8115.8929.4393.615.30Buy
Aberdeen European Property Share I Acc12.0825.3672.86109.033.00Buy
Aberdeen European Smaller Companies Equity I Acc17.3145.2570.2148.110.70Buy
Aberdeen Global European Equity Ex UK X Acc GBP9.4827.2646.8884.591.00Buy
Alken Absolute Return Europe GB1 GBP10.169.8334.34942.70-Buy
Alken European Opportunities GB1---2,678.27-Buy
Allianz Continental European C7.2938.6567.61127.170.92Buy
Allianz European Equity Income C Acc8.1927.4959.8430.093.45Buy
Artemis European Growth I Acc15.4841.7285.59207.261.52Buy
Artemis European Opportunities I Hedged Acc7.3514.4770.50362.551.47Buy
Artemis European Opportunities I Acc8.3935.0575.17362.551.40Buy
Artemis Pan-European Absolute Return I Hedged Acc GBP0.0219.23-216.090.14Buy
Baillie Gifford European B Acc9.9248.8383.93438.071.09Buy
Barclays Europe (ex-UK) Alpha R Acc GBP8.0118.2256.2538.801.40Buy

OEICs and Unit Trusts

Name1 Year (%)3 Years (%)5 Years (%)Fund Size (M)Yield (%)
AXA Framlington European Z Inc1.5022.6052.4964.891.94Buy
AXA Pan European High Yield Bond Z Gross Inc4.1217.3834.4026.404.55Buy
AXA Pan European High Yield Bond Z Inc4.1215.0127.9526.404.55Buy
Aberdeen Euro Corporate Bond I Inc5.1425.4716.4926.971.00Buy
Aberdeen European High Yield Bond I Inc4.8015.8829.4193.615.30Buy
Aberdeen European Property Share I Inc12.0925.3572.81109.033.00Buy
Aberdeen Global Select Euro High Yield Bond X MInc GBP7.3741.8434.71951.854.65Buy
Allianz Europe Equity Growth P NAV GBP4.6031.6164.526,852.49-Buy
Allianz European Equity Income C Inc7.4625.0855.4830.093.02Buy
Artemis European Opportunities I Inc8.3935.0475.19362.551.42Buy
Artemis European Opportunities I Hedged Inc7.3415.4370.29362.551.49Buy
Baillie Gifford European B Inc9.9248.8283.90438.071.09Buy
Barclays Europe (ex-UK) Alpha R Dis GBP7.9818.1555.9238.801.40Buy
Baring Europe Select I Inc GBP11.2357.81111.922,195.851.40Buy
Baring European Growth I Inc GBP11.6837.7278.8691.681.80Buy
Baring German Growth I Inc GBP11.4351.2497.22785.101.40Buy
Baring Russia R Inc GBP-2.5450.0022.8750.50-Buy
BlackRock Continental European D Inc9.3932.9069.45543.051.45Buy
BlackRock Continental European Income D Inc6.3431.8670.121,885.314.00Buy
BlackRock Continental European Income D Hedged Inc5.35--1,885.313.96Buy

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
AXA Property Trust Limited Ord NPV-28.520.1023.31-35.4763.69Buy
Adams PLC Ord EUR0.01-37.85-50.7120.9774.420.03Buy
Alcentra European Floating Rate Income Limited Ord0.836.4116.56-5.39104.32Buy
Alpha Pyrenees-25.00-95.53-98.57-96.882.40Buy
Axiom European Financial Debt Fund Limited Ord9.77--0.39105.09Buy
BlackRock Greater Europe IT11.2336.0666.33-5.16343.74Buy
Bluefield Solar Income Limited8.8429.88-4.98112.40Buy
CVC Credit Partners European Opportunities Limited Ord GBP7.7624.65-1.12112.74Buy
CVC Credit Partners European Opportunities Limited Ord EUR5.8922.22-0.551.10Buy
Chenavari Capital Solutions Limited Red Ord NPV Inc GBP-3.691.06--8.0388.89Buy
Dolphin Capital Investors-4.46-68.09-76.65-64.4521.10Buy
Dunedin Enterprise IT plc66.7593.1068.08-22.94489.20Buy
European Assets Trust8.9832.1399.480.931,216.21Buy
Fidelity European Values PLC6.8724.8061.75-10.77237.02Buy
Gresham House Strategic Plc 50P-3.3224.62-13.44-31.551,208.90Buy
Greencoat Renewables PLC ORD EUR0.01---8.440.97Buy
Hammerson plc-4.61-10.6121.20--Buy
Hansteen Holdings PLC9.2727.1092.65-0.46130.60Buy
Henderson Euro Trust9.0128.0586.84-6.481,192.20Buy
HgCapital Trust plc Ord22.9485.7188.11-2.921,877.40Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
Amundi ETF MSCI Europe Energy GBP10.5424.1544.9643.25GBXCommodity & EnergyBuy
Amundi ETF MSCI Europe Healthcare GBP-9.07-4.85-0.3733.77GBXEquity - Pharma Health & BiotechBuy
Amundi ETF MSCI Germany GBP-5.403.8228.1262.91GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Italy GBP4.5522.1232.6361.23GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Spain GBP-4.91-2.7414.5039.27GBXEquity - Europe Single CountryBuy
BMO Enhanced Income Euro Equity UCITS ETF-3.25---GBPEquity - Europe ex UKBuy
BMO MSCI Europe ex-UK Income Leaders GBP Hedged-3.460.86--GBPEquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Leverage Daily ETP-8.12-1.66-23.4596.80EUREquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Short Daily ETP-1.28-14.60-59.27-91.38EUREquity - Europe ex UKBuy
ETFS DAX Daily 2x Long GO UCITS ETF GBP-10.262.2219.32108.71GBPEquity - Europe Single CountryBuy
ETFS DAX Daily 2x Short GO UCITS ETF GBP-0.06-6.18-27.93-78.90GBPEquity - Europe Single CountryBuy
Fidelity Europe Quality Income UCITS ETF Hedged Acc GBP----GBPEquity - Europe inc UKBuy
First Trust Eurozone AlphaDEX UCITS ETF A Acc Nav GBP1.1214.8254.52-GBPEquity - Europe ex UKBuy
HSBC Euro Stoxx 50 X GBP-4.474.1426.7356.68GBXEquity - Europe ex UKBuy
HSBC MSCI Europe NAV GBP----GBPEquity - Europe inc UKBuy
HSBC MSCI Russia Capped GBX-0.591.8430.798.28GBXEquity - Europe Single CountryBuy
HSBC MSCI Turkey GBP-12.22-7.97-4.32-34.76GBXEquity - Europe Single CountryBuy
LYXOR FTSE Europe Minimum Variance UCITS ETF C GBP-1.295.82--GBPEquity - Europe inc UKBuy
LYXOR Index Smart Cash UCITS ETF C USD0.851.55--USDCurrency - EuroBuy
LYXOR Index Smart Cash UCITS ETF C GBP0.300.49--GBPCurrency - EuroBuy

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 0.1P14.8120.7974.85116.00-2.594.42VCT 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 0.1P14.0232.9274.51114.90-2.524.46VCT Specialist: EnvironmentalBuy

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