ASI Europe ex UK Ethical Equity P1

Ethical European equity fund.

  • 155.30p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.75%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 0.92%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.70%

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 14 June 2021

The Fund aims to provide long term growth by investing in a diversified portfolio of European, excluding UK, equity assets that meet a strict ethical criteria. These criteria are agreed with the Standard Life Ethical Funds Advisory Group and may be amended from time to time if considered appropriate. The fund manager will exclude companies which fail to meet the ethical criteria whilst seeking to include companies whose business activities are regarded as making a positive contribution to society.

Fund summary

Sector Europe Excluding UK
Structure OEIC
Launched May, 2012
Size £289m
Yield 0.70%
Charging basis Income
Dividends paid Acc units only


Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.92%


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Investment process

Manager research

Average monthly relative returns

  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 -0.30%
  • 19/20 0.36%
  • 20/21 0.55%

Bestinvest MRI

  • 3 years 0.21%
  • 5 years 0.00%
  • Career 0.18%
  • 3 years 87.30%
  • 5 years 0.00%
  • Career 85.10%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Sarah Norris

Norris joined Standard Life Investments in 2011 and as an Investment Director within the European Equity Team, provides research coverage of the Software & Computer Services, Healthcare, Forestry & Paper, Industrial Metals and General Financials sectors, contributing investment ideas to the wider team and participating in peer review discussions. More recently she became jointly responsible for the management of the Global Equity Impact Strategy. Norris has an MA (Hons) in International Relations and MLitt Post Graduate studies, both from the University of St Andrews.

Track record

Sarah Norris has 3.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.18%. During the worst period of relative performance (from August 2018 - February 2019) there was a decline of 7% relative to the index. The worst absolute loss has been 16%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 85%.

Periods of worst performance

Absolute -16.00% (August 2018 - December 2018)
Relative -7.00% (August 2018 - February 2019)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.


Proportion (%)

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Top 10 holdings

Data accurate as at 30 June 2020

4.3% Enel Spa
4% Iberdrola Sa
3.8% Sap Se
3.8% Asml Holding Nv
3.5% Orsted
3.4% Worldline
2.9% Finecobank
2.7% Partners Group Holding
2.6% Deutsche Borse Ag
2.5% Wolters-Kluwer Nv
Source: Trustnet

Sector breakdown

Financials 22.00%
Industrials 21.00%
Technology 14.00%
Consumer Goods 13.00%
Utilities 12.00%
Consumer Services 7.00%
Health Care 4.00%
Telecommunications 4.00%
Oil & Gas 1.00%
Money Market 1.00%

Key Investor Information