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SCOTTISH EQUITABLE LAZARD EUROPEAN SMALLER COS LF - Fund overview

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Overview of SCOTTISH EQUITABLE LAZARD EUROPEAN SMALLER COS LF

This pan-European smaller companies fund adopts a value biased bottom up investment style. Stock ideas are researched by a team of global sector analysts who recommend their strongest ideas to the portfolio manager. Note the fund lost its fund manager, William Von Meuffling in January 2003.

Standard Initial Charge

No data available.

Fund summary

Sector	–
Product type	INSURANCE BOND
Launched	September, 2005
Size	£2m
Yield	0.0%
Charging basis	–
Dividends paid	–
Bid price	113.68p

Fund Charges

Standard Initial charge	–
Initial charge via Bestinvest	–
Additional bid/offer spread	5.00%
Annual management charge	–
Total expense ratio	–
Reduction in yield (10yr)	0.51%

Bestinvest says

No information available.

Portfolio

scottish equitable lazard european smaller cos lf asset allocation illustration

Allocation		Proportion

	Equity	97%
	High yield bonds	0%
	Quality bonds	0%
	Property	0%
	Commodities	0%
	Hedge	0%
	Fund cash	3%

scottish equitable lazard european smaller cos lf equity geographic illustration

Allocation		Proportion

	UK	23%
	Europe	77%
	Nth America	0%
	Japan	0%
	Pacific	0%
	Other Equity	0%

scottish equitable lazard european smaller cos lf equity capitalisation illustration

Allocation		Proportion

	Large Caps	6%
	Mid Caps	64%
	Small Caps	30%

View all performance data for SCOTTISH EQUITABLE LAZARD EUROPEAN SMALLER COS LF

Investment process

The objective is long-term capital growth by investing in European smaller companies, those being companies with a market capitalisation of below €2 billion. This is approximately the bottom 5% of the MSCI Europe.
The manager takes a bottom up value approach to investing, focusing on companies with high cash flows and high returns on equity. A team of analysts, spread through the world perform the individual company research and feed their "best" ideas back to fund manager for inclusion into the portfolio. If a superior idea is found by an analyst to an existing holding then it will be exchanged. Price targets are also set for each stock on an earnings multiple basis.

The value of your investments and the income from them can go down as well as up, and you can get back less than you originally invested. Past performance or any yields quoted should not be considered reliable indicators of future returns. Before investing in funds please check the specific risk factors on the key features document or refer to our risk warning notice as some funds can be high risk or complex; they may also have risks relating to the geographical area, industry sector and/or underlying assets in which they invest. Prevailing tax rates and relief are dependent on your individual circumstances and are subject to change.

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