The fund aims to provide a combination of capital growth and income to deliver a return that is higher than that of the European stockmarket over any five-year period.
Investment policy and strategy
Core investment: At least 80% of the fund is invested in a value-style portfolio of shares in companies across any sector and of any size that are domiciled, or conducting the major part of their economic activity, in Europe.
Other investment: The fund also holds cash or assets that can be turned quickly into cash.
Strategy in brief: The fund employs a ‘value’ strategy, investing in cheap, out-of-favour companies whose share price, in the investment manager’s view, does not reflect the underlying value of the business. Stocks are selected on the basis of their individual merits, through a combination of value-focused screening and qualitative assessment. The main drivers of returns are expected to be the value style and overall stock selection rather than any individual sector or stock.
Performance comparator: The fund is actively managed. The MSCI Europe Index is a point of reference against which the performance of the fund may be measured.