The fund aims to grow capital over five years or more by investing mainly in a range of company shares from across Europe, excluding the UK.
Investment policy and strategy
Core investment: At least 80% of the fund is invested in the shares of European companies. Currently, the fund is invested in the shares of a limited number of companies.
Other investments: The fund also invests in companies outside Europe, but only if these companies earn revenue from business activities within Europe.
Strategy in brief: The fund manager invests in the shares of companies deemed to be of quality and with sustainable business models, where an element of change is helping to drive their value, and short-term issues have created attractive buying opportunities. The fund manager keeps the fund concentrated, generally holding fewer than 40 well-understood stocks, with a typical holding period of at least three years. The fund may invest across a wide range of industries and company sizes. The fund manager maintains a balance of stocks with different risks and rewards to build a fund that has the potential to cope in a variety of market conditions. Income is not a top priority when choosing investments.
Risks associated with the fund
The value of investments and the income from them will rise and fall. This will cause
the fund price, as well as any income paid by the fund, to fall as well as rise. There
is no guarantee the fund will achieve its objective, and you may not get back the
amount you originally invested.
This fund holds a relatively small number of investments and, as a result, may
experience larger price rises and falls than a fund which holds a larger number of
Changes in currency exchange rates will affect the value of your investment.
Where market conditions make it hard to sell the fund’s investments at a fair price
to meet customers’ sale requests, we may temporarily suspend dealing in the fund’s
Some transactions the fund makes, such as placing cash on deposit, require the
use of other financial institutions (for example, banks). If one of these institutions
defaults on their obligations or becomes insolvent, the fund may incur a loss.
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.