CFIC CRUX European A

Concentrated high conviction European growth fund.

  • 0.00p
    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!

  • 1.50%
    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).

  • 2.45%
    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.

  • 0.00%
    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…

The aim of the European Fund is to achieve capital growth primarily from a portfolio of European investments, which are excluding United Kingdom, with no sector bias. The portfolio will be concentrated, typically consisting of between 40 to 65 holdings and may at any time include small and mid cap holdings which fit the above criteria. Due to the concentration the structure of the portfolio of the Fund may differ materially from the benchmark index.

Fund summary

Sector Europe Excluding UK
Structure X-OEIC
Launched March, 1990
Size £14m
Yield 0.00%
Charging basis
Dividends paid 31 Aug 28 Feb

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 2.45%

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Investment process

Manager research

Average monthly relative returns

  • 15/16 -0.40%
  • 16/17 -0.21%
  • 17/18 0.17%
  • 18/19 0.00%
  • 19/20 0.41%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.05%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 95.80%

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

Richard Scrope

Scrope brought the WDB Oriel Global and WDB Oriel European Funds to Oriel Asset Management in 2012. He began managing the funds at Williams de Broë in 2008 after the acquisition of Singer & Friedlander, where he worked on European mandates. Prior to this he served as a British Army officer and then worked at JP Morgan Chase Private Bank. Scrope has a BSc (Hons) in Mathematics from the University of Edinburgh and is a Chartered Financial Analyst. He has 7 years of industry experience. In his spare time he enjoys skiing, mountaineering, opera, cricket and tennis.

Track record

Richard Scrope has 11.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.05%. During the worst period of relative performance (from October 2011 - September 2017) there was a decline of 17% relative to the index. The worst absolute loss has been 13%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 96%.

Periods of worst performance

Absolute -13.00% (December 2008 - February 2009)
Relative -17.00% (October 2011 - September 2017)

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 May 2017

5.3252% Nestle Sa
4.3212% A-B Ii Ventures
4.2589% Assa Abloy Ab
3.9012% Infineon Technologies Ag
3.4529% Banque Cantonale Vaudoise
3.3553% Dsv
3.2802% Eurofins Scientific
3.0836% Ubs
3.0385% L`Oreal
2.99% Brenntag Ag
Source: Trustnet

Sector breakdown

Capital Goods 21.00%
Food, Beverages and Tobacco 11.00%
Biotechnology/Medical 11.00%
Banks 8.00%
Materials 7.00%
Money Market 6.00%
Financials 4.00%
Semi Conductors 4.00%
Transport 3.00%
Services 3.00%

Key Investor Information

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