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 Acc33.8740.39115.1474.631.76Buy
AXA Pan European High Yield Bond Z Gross Acc9.6418.2258.2326.905.83Buy
AXA Pan European High Yield Bond Z Acc8.8414.6749.2826.904.99Buy
AXA Rosenberg European Z Acc35.6335.34111.2521.302.68Buy
Aberdeen Euro Corporate Bond I Acc16.6918.4336.3027.511.30Buy
Aberdeen European Equity I Acc35.3735.7587.01249.021.50Buy
Aberdeen European High Yield Bond I Acc7.8014.5949.6897.676.00Buy
Aberdeen European Property Share I Acc15.1647.00104.5876.903.00Buy
Aberdeen European Smaller Companies Equity I Acc39.4340.8594.6496.211.10Buy
Aberdeen Global European Equity Ex UK R2 GBP35.1832.6285.0092.901.50Buy
Alken Absolute Return Europe GB1 GBP10.399.61-1,045.30-Buy
Alken European Opportunities GB1---2,455.00-Buy
Allianz Continental European C37.3957.99117.96141.480.84Buy
Allianz European Equity Income C Acc36.1730.4199.7626.113.12Buy
Artemis European Growth I Acc40.0238.23145.60193.181.47Buy
Artemis European Opportunities I Hedged Acc23.6135.77113.74357.551.48Buy
Artemis European Opportunities I Acc40.2753.00135.88357.551.38Buy
Artemis Pan-European Absolute Return I Hedged Acc GBP7.82--145.44-Buy
Baillie Gifford European B Acc48.0361.44152.04335.471.00Buy
Barclays Europe (ex-UK) Alpha R Acc GBP26.1528.19109.8940.001.40Buy

OEICs and Unit Trusts

Name1 Year (%)3 Years (%)5 Years (%)Fund Size (M)Yield (%)
AXA Framlington European Z Inc33.9639.78110.7974.631.79Buy
AXA Pan European High Yield Bond Z Gross Inc9.6118.1658.2426.906.00Buy
AXA Pan European High Yield Bond Z Inc8.7414.6449.5126.904.90Buy
Aberdeen Euro Corporate Bond I Inc16.6918.3936.1827.511.30Buy
Aberdeen European High Yield Bond I Inc7.8114.5949.6897.676.00Buy
Aberdeen European Property Share I Inc15.1447.03104.4176.903.00Buy
Aberdeen Global Select Euro High Yield Bond R1 GBP23.6327.9968.041,050.945.01Buy
Allianz Europe Equity Growth P GBP34.2552.94115.806,613.19-Buy
Allianz European Equity Income C Inc35.4627.6894.6126.112.71Buy
Artemis European Opportunities I Inc40.2753.00135.95357.551.40Buy
Artemis European Opportunities I Hedged Inc23.9735.40113.14357.551.51Buy
Baillie Gifford European B Inc48.0161.37151.99335.471.00Buy
Barclays Europe (ex-UK) Alpha R Dis GBP26.0528.13109.2540.001.40Buy
Baring Europe Select I Inc GBP40.7270.68176.411,869.101.40Buy
Baring European Growth I Inc GBP39.8242.54128.5186.201.80Buy
Baring German Growth I Inc GBP49.5654.09152.93566.501.40Buy
Baring Russia R Inc GBP36.7624.8029.5550.90-Buy
BlackRock Continental European D Inc30.8243.67120.55528.070.99Buy
BlackRock Continental European Income D Inc31.6945.55140.801,628.063.95Buy
BlackRock European Dynamic FD Inc37.0353.37146.622,433.530.68Buy

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
AXA Property Trust Limited Ord NPV7.9858.16114.42-13.3670.26Buy
Adams PLC Ord EUR0.0123.4617.06622.13--Buy
Alcentra European Floating Rate Income Limited Ord7.508.6831.54-2.85104.99Buy
Alpha Pyrenees--97.89-99.46-95.832.40Buy
Axiom European Financial Debt Fund Limited Ord10.00--2.2696.32Buy
BlackRock Greater Europe IT31.7438.28117.11-4.80335.10Buy
Bluefield Solar Income Limited22.0036.70-10.30104.26Buy
CVC Credit Partners European Opportunities Limited Ord GBP21.5026.27-2.42111.31Buy
CVC Credit Partners European Opportunities Limited Ord EUR20.3521.86-3.141.09Buy
Dunedin Enterprise IT plc15.16-9.5123.60-30.99506.10Buy
European Assets Trust36.1761.19219.68--Buy
European Real Estate Investment Trust Limited24.4671.6560.41-9.50179.00Buy
Fidelity European Values PLC40.9448.06133.79-7.58242.37Buy
Gresham House Strategic Plc 50P18.58-7.5047.87-22.201,169.70Buy
Hammerson plc3.9413.5258.82--Buy
Hansteen Holdings PLC20.2741.70119.62-4.11128.90Buy
Henderson Euro Trust48.2748.35182.95-2.231,217.10Buy
Henderson European Focus Trust Ord 50P56.9252.55219.622.171,380.10Buy
JP Morgan European IT Growth40.0738.72144.75-10.33341.80Buy
JP Morgan European IT Income44.9150.17167.78-6.34178.30Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
Amundi ETF MSCI Europe Energy GBP-3.4424.07-1.3228.91GBXCommodity & EnergyBuy
Amundi ETF MSCI Europe Ex UK GBP16.3838.9837.87113.61GBXEquity - Europe ex UKBuy
Amundi ETF MSCI Europe Healthcare GBP20.0530.1536.98114.90GBXEquity - Pharma Health & BiotechBuy
Amundi ETF MSCI France GBP17.1042.7242.97122.05GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Germany GBP15.0743.2438.56119.84GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Italy GBP13.7939.248.7175.99GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Spain GBP21.8347.4914.8899.14GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Europe Minimum Volatility Factor UCITS ETF GBP16.2326.8842.35135.78GBXEquity - Europe inc UKBuy
BMO MSCI Europe ex-UK Income Leaders GBP Hedged13.4921.84--GBPEquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Leverage Daily ETP34.2468.936.35-EUREquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Short Daily ETP-31.91-56.06-75.32-EUREquity - Europe ex UKBuy
DB X-Trackers II Iboxx Sovereigns Eurozone UCITS ETF 1C EUR0.61-0.5011.5829.00EURFixed Int - EUR GovernmentBuy
DB X-Trackers MSCI Russia Capped Index UCITS ETF 1D GBP-17.0723.66-0.840.17GBPEquity - Europe Single CountryBuy
DB X-Trackers STOXX Europe 600 Oil & Gas UCITS ETF 1C GBP-2.9624.35-2.3426.60GBPCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Utilities UCITS ETF 1C GBP19.4424.5917.8864.89GBPEquity - Other SpecialistBuy
DB X-Trackers Stoxx Europe 600 Basic Resources UCITS ETF 1C GBP2.2253.419.6415.77GBPCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Banks UCITS ETF 1C GBP11.0031.542.5164.63GBPEquity - FinancialBuy
DB X-Trackers STOXX Europe 600 Food & Beverage UCITS ETF 1C GBP16.9425.3347.7997.48GBPEquity - Other SpecialistBuy
DB X-Trackers STOXX Europe 600 Health Care UCITS ETF 1C GBP17.4527.5238.85111.69GBPEquity - Pharma Health & BiotechBuy
DB X-Trackers Stoxx Europe 600 Technology UCITS ETF 1C GBP23.7252.2570.82162.15GBPEquity - 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-3.2910.3458.04118.10-12.794.85VCT 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-3.2910.8958.84117.30-12.194.85VCT Specialist EnvironmentalBuy
KW Europe Real Estate PLC Ord NPV5.8111.82---4.39Property - Direct EuropeBuy

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