European Select Fund

ISIN
GB0030928997

Price (18.04.2019)
16.65

% Price Change
0.20

Objective and investment policy

Objective

The fund aims to provide a combination of capital growth and income, net of the Ongoing Charge Figure, that is higher than the FTSE World Europe ex UK Index over any five-year period.

Investment policy and strategy

Core investment: At least 80% of the fund is invested directly in the shares of companies that are based, or do most of their business, in Europe (excluding the UK), across any sector and of any size. The fund usually holds shares in fewer than 50 companies.

Other investments: The fund may also invest in other funds (including funds managed by M&G), cash or assets that can be turned into cash quickly.

Derivatives: The fund may use derivatives with the aim of reducing risks and costs or managing the fund more efficiently.

Strategy in brief: The fund employs a disciplined approach to analyse and select each company. The strategy invests in companies with sustainable competitive advantages that have the opportunity to reinvest their capital in projects that can deliver the highest rates of return. The fund manager seeks to identify companies that generate rising cashflows, and primarily allocate them to grow their businesses and dividends.

Risk indicator

Risk level 5

Risks associated with the fund

The value and income from the fund's assets will go down as well as up. This will cause the value of your investment to fall as well as rise. There is no guarantee that the fund will achieve its objective and you may get back less than you originally invested.

The fund holds a small number of investments, and therefore a fall in the value of a single investment may have a greater impact than if it held a larger number of investments.

The fund can be exposed to different currencies. Movements in currency exchange rates may adversely affect the value of your investment.

In exceptional circumstances where assets cannot be fairly valued, or have to be sold at a large discount to raise cash, we may temporarily suspend the fund in the best interest of all investors.

The fund could lose money if a counterparty with which it does business becomes unwilling or unable to repay money owed to the fund.

Further details of the risks that apply to the fund can be found in the fund's Prospectus.

Other information

The fund invests mainly in company shares and is therefore likely to experience larger price fluctuations than funds that invest in bonds and/or cash. 

Performance

The value of investments will fluctuate, which will cause fund prices to fall as well as rise and you may not get back the original amount you invested. The level of any income earned by the fund will fluctuate. Past performance is not a guide to future performance.

On 01 January 2012, the fund’s performance comparator changed.

Past performance shown from the date selected to 31 December 2011 is the FTSE World Europe Index. Past performance shown from 01 January 2012 is the MSCI Europe Index.


Source: Price: State Street. Performance: Morningstar. For non-Sterling share classes for fixed income and global convertibles funds, performance figures are shown on a price to price with gross income reinvested basis*. For equities and multi-asset funds, performance figures are shown on a price to price with net income reinvested basis. For Sterling share classes performance figures are on a price to price with net income reinvested basis. Performance figures may not reflect all relevant charges.

Fund Team

Phil Cliff

Phil Cliff - Fund manager

Phil Cliff joined M&G in January 2012 and was appointed fund manager of the M&G Pan European Dividend Fund in April 2012. He also became fund manager of the M&G European Select Fund in July 2017. Phil was previously Head of European equities at Occam Asset Management and prior to that managed pan European equity portfolios at Threadneedle, where he was AA-rated by Citywire.

 Team member biography
Sam Ford

Sam Ford - Deputy Manager

Sam Ford was appointed fund manager of the M&G UK Select Fund in January 2017. He is also deputy manager of the M&G Pan European Dividend Fund, M&G Dividend Fund and M&G UK Income Distribution Fund since February 2015. Sam initially joined M&G in 2014 as a dedicated analyst to the Income team. Prior to M&G, Sam worked at Alliance Trust, most recently as an investment manager with the Global Equities team. Sam graduated from the University of Strathclyde with a masters degree (merit) in chemical & process engineering and is a CFA charterholder.

 Team member biography
Kotaro Miyata

Kotaro Miyata - Investment specialist

Kotaro Miyata is the investment specialist providing support for M&G's equity income fund range which includes the M&G Global Dividend Fund, as well as the M&G Global Listed Infrastructure Fund and the M&G (Lux) Global Listed Infrastructure Fund, which were launched in October 2017. Prior to joining M&G in 2006, he was a fund manager at Invesco Asset Management, where he was responsible for European and UK equities within the Global Equities team. Kotaro holds the Securities Institute Diploma and graduated from Oxford University in 1994 with a degree in classics.

 Team member biography

Ratings

Rating is at a share class level

2 Star Rating

Ratings as at 31/01/2019. The Morningstar Overall Rating. Copyright © 2019 Morningstar UK Limited. All Rights Reserved. The Morningstar Analyst Rating™. © 2019 Morningstar. All Rights Reserved. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Ratings should not be taken as recommendation.

Important information

 

Fund launch date: 24/07/1972. The launch date stated shows the end of the initial offer period of the Fund in the UK. The M&G European Fund is a sub-fund of Investment Funds (1).

 

*The risk indicator is an AFM requirement. For more information about the Risk indicator please go to www.afm.nl/risicometer 

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