ASI European Property Share I

European Property Securities (including UK) with a stock range of 25-45 holdings

  • 129.79p
    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.

  • 203.38p
    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).

  • 0.89%
    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.

  • 2.80%
    Yield

    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 18 January 2021

This fund invests in a portfolio of real estate companies which are selected by SWIP's European equities team. The aim is to deliver an above average total return from the European property sector. The annual management fee of 1.5% is high for this type of fund.

Fund summary

Sector Property Other
Structure OEIC
Launched August, 2015
Size £120m
Yield 2.80%
Charging basis Capital
Dividends paid 30 Mar, 30 Sep

Charges

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 0.89%

Allocation

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Investment process

The Fund will predominantly invest in the securities of companies that derive the majority of their income from the ownership, management or development of real estate located in Europe including the United Kingdom. The Fund may also invest in warrants, derivatives (for efficient portfolio management) and collective investment schemes. The portfolio construction approach combines a top-down view of markets and property sectors with bottom-up stock research of individual companies.

Manager research

Average monthly relative returns

  • 16/17 -0.34%
  • 17/18 0.13%
  • 18/19 -0.10%
  • 19/20 0.65%
  • 20/21 1.22%

Bestinvest MRI

  • 3 years 0.59%
  • 5 years 0.31%
  • Career 0.10%
  • 3 years 97.90%
  • 5 years 95.10%
  • Career 95.10%

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

Vicky Watson

Watson is a member of SWIP’s European Equity Team. She previously worked in SWIP’s Property Investment team where she was the analyst and strategist for three direct property funds. Before joining SWIP in 2006, she was a property market analyst for four years at Henderson Global Investors where she was responsible for covering office markets in UK, France, Spain, Portugal and Ireland, and all European industrial markets. In the four years prior to this, she was employed by Healey & Baker (now Cushman & Wakefield) as a business space research analyst. Watson holds a BA (joint Hons) in modern languages from the University of Durham. She speaks French and Spanish fluently.

Track record

Vicky Watson has 12.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.1%. During the worst period of relative performance (from November 2008 - July 2016) there was a decline of 16% relative to the index. The worst absolute loss has been 47%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 95%.

Periods of worst performance

Absolute -47.00% (March 2008 - March 2009)
Relative -16.00% (November 2008 - July 2016)

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.

Allocation

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Top 10 holdings

Data accurate as at 31 July 2020

7.7% Segro Plc
6.9% Vonovia Se
5.5% Deutsche Wohnen Se
5.3% Shurgard Self Storage Sa
4.5% Catena Ab
4.4% Sirius Real Estate Ltd Ord Npv
4.3% Kojamo Plc
4.2% Warehouses De Pauw Nv
4.2% Gecina
4.1% Unite Group
Source: Trustnet

Sector breakdown

Real Estate 93.00%
Communications 4.00%
Industrials 2.00%
Mutual Funds 1.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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