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 Acc16.2460.1786.5371.371.76Buy
AXA Pan European High Yield Bond Z Gross Acc7.6723.8245.6825.305.83Buy
AXA Pan European High Yield Bond Z Acc7.2720.5838.0425.304.99Buy
AXA Rosenberg European Z Acc17.5856.3487.1421.392.46Buy
Aberdeen Euro Corporate Bond I Acc2.0420.5330.6428.321.20Buy
Aberdeen European Equity I Acc15.0554.7270.50212.341.20Buy
Aberdeen European High Yield Bond I Acc7.6621.8040.1390.715.60Buy
Aberdeen European Property Share I Acc14.2156.7386.3183.763.20Buy
Aberdeen European Smaller Companies Equity I Acc22.2765.5378.4080.080.70Buy
Aberdeen Global European Equity Ex UK R2 GBP15.0350.7969.2995.081.50Buy
Alken Absolute Return Europe GB1 GBP21.6024.8249.251,009.40-Buy
Alken European Opportunities GB1---2,386.00-Buy
Allianz Continental European C18.4678.1697.40145.740.90Buy
Allianz European Equity Income C Acc17.8449.6887.8426.363.37Buy
Artemis European Growth I Acc23.1465.68124.96200.051.39Buy
Artemis European Opportunities I Hedged Acc22.1450.8989.96379.691.46Buy
Artemis European Opportunities I Acc21.7173.38110.70379.691.34Buy
Artemis Pan-European Absolute Return I Hedged Acc GBP7.1124.36-163.27-Buy
Baillie Gifford European B Acc23.7987.77127.27406.711.09Buy
Barclays Europe (ex-UK) Alpha R Acc GBP13.2751.5385.4942.301.40Buy

OEICs and Unit Trusts

Name1 Year (%)3 Years (%)5 Years (%)Fund Size (M)Yield (%)
AXA Framlington European Z Inc16.2959.8783.4071.371.79Buy
AXA Pan European High Yield Bond Z Gross Inc7.6223.7845.6625.306.00Buy
AXA Pan European High Yield Bond Z Inc7.3220.5438.3825.304.90Buy
Aberdeen Euro Corporate Bond I Inc2.0420.5930.5928.321.20Buy
Aberdeen European High Yield Bond I Inc7.6521.7740.1090.715.60Buy
Aberdeen European Property Share I Inc14.4556.7186.2683.763.20Buy
Aberdeen Global Select Euro High Yield Bond R1 GBP8.0138.8357.811,061.504.65Buy
Allianz Europe Equity Growth P GBP15.8468.0795.907,033.09-Buy
Allianz European Equity Income C Inc17.2146.4982.6726.362.94Buy
Artemis European Opportunities I Inc21.7073.39110.72379.691.36Buy
Artemis European Opportunities I Hedged Inc22.3151.6089.37379.691.48Buy
Baillie Gifford European B Inc23.8787.84127.24406.711.09Buy
Barclays Europe (ex-UK) Alpha R Dis GBP13.2151.4384.9842.301.40Buy
Baring Europe Select I Inc GBP20.26101.06151.362,123.701.40Buy
Baring European Growth I Inc GBP27.4270.67109.7394.401.80Buy
Baring German Growth I Inc GBP28.5791.94134.25632.701.40Buy
Baring Russia R Inc GBP17.6368.7534.0449.80-Buy
BlackRock Continental European D Inc18.5771.93101.07471.370.94Buy
BlackRock Continental European Income D Inc16.2466.13114.151,782.263.60Buy
BlackRock European Dynamic FD Inc24.9981.60123.532,651.170.65Buy

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
AXA Property Trust Limited Ord NPV-3.8257.61144.28-11.6867.65Buy
Adams PLC Ord EUR0.0119.05-45.55286.36--Buy
Alcentra European Floating Rate Income Limited Ord7.4310.5627.81-4.67105.68Buy
Alpha Pyrenees--96.00-99.44-95.832.40Buy
Axiom European Financial Debt Fund Limited Ord9.41---3.54101.60Buy
BlackRock Greater Europe IT20.9970.00103.16-3.96354.79Buy
Bluefield Solar Income Limited17.4637.18-4.99110.49Buy
CVC Credit Partners European Opportunities Limited Ord GBP16.5627.77-0.17112.31Buy
CVC Credit Partners European Opportunities Limited Ord EUR18.1824.98-2.061.10Buy
Chenavari Capital Solutions Limited Red Ord NPV Inc GBP17.2810.14-0.1292.64Buy
Dunedin Enterprise IT plc46.1940.6730.54-11.75515.00Buy
European Assets Trust34.1890.41171.911.551,294.88Buy
Fidelity European Values PLC25.5967.29104.34-8.63248.43Buy
Gresham House Strategic Plc 50P2.271.350.61-26.771,123.20Buy
Greencoat Renewables PLC ORD EUR0.01-----Buy
Hammerson plc0.184.5930.55--Buy
Hansteen Holdings PLC29.5859.22133.793.40132.50Buy
Henderson Euro Trust28.5476.62144.64-5.391,245.10Buy
HgCapital Trust plc Ord25.0284.31106.86-4.961,806.10Buy
Henderson European Focus Trust Ord 50P32.7277.09159.910.751,405.00Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
Amundi ETF MSCI Europe Energy GBP12.8612.2830.0127.65GBXCommodity & EnergyBuy
Amundi ETF MSCI Europe Ex UK GBP14.5119.2956.9790.06GBXEquity - Europe ex UKBuy
Amundi ETF MSCI Europe Healthcare GBP8.539.0433.5681.50GBXEquity - Pharma Health & BiotechBuy
Amundi ETF MSCI Germany GBP14.9920.5162.8890.94GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Italy GBP21.9031.3938.5161.36GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Spain GBP7.8919.9326.4165.21GBXEquity - Europe Single CountryBuy
Amundi ETF MSCI Europe Minimum Volatility Factor UCITS ETF GBP10.1710.7351.20113.63GBXEquity - Europe inc UKBuy
BMO Enhanced Income Euro Equity UCITS ETF----GBPEquity - Europe ex UKBuy
BMO MSCI Europe ex-UK Income Leaders GBP Hedged8.2219.47--GBPEquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Leverage Daily ETP22.8873.4159.16-EUREquity - Europe ex UKBuy
Boost EURO STOXX 50 3x Short Daily ETP-25.77-51.17-82.46-EUREquity - Europe ex UKBuy
DB X-Trackers II Iboxx Sovereigns Eurozone UCITS ETF 1C EUR0.95-1.987.5623.01EURFixed Int - EUR GovernmentBuy
DB X-Trackers MSCI Russia Capped Index UCITS ETF 1D GBP8.2610.2035.454.11GBPEquity - Europe Single CountryBuy
DB X-Trackers STOXX Europe 600 Oil & Gas UCITS ETF 1C GBP8.478.8028.5620.75GBPCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Utilities UCITS ETF 1C GBP15.5212.0628.8251.25GBPEquity - Other SpecialistBuy
DB X-Trackers Stoxx Europe 600 Basic Resources UCITS ETF 1C GBP18.2934.5441.2626.35GBPCommodity & EnergyBuy
DB X-Trackers Stoxx Europe 600 Banks UCITS ETF 1C GBP17.5538.0317.9248.22GBPEquity - FinancialBuy
DB X-Trackers STOXX Europe 600 Food & Beverage UCITS ETF 1C GBP14.879.9561.0282.96GBPEquity - Other SpecialistBuy
DB X-Trackers STOXX Europe 600 Health Care UCITS ETF 1C GBP8.589.0739.9787.44GBPEquity - Pharma Health & BiotechBuy
DB X-Trackers Stoxx Europe 600 Technology UCITS ETF 1C GBP17.0926.9088.82151.98GBPEquity - 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 0.1P4.6525.5281.57116.40-8.514.69VCT 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 0.1P4.8526.3982.84115.50-7.794.69VCT Specialist EnvironmentalBuy

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