GAM Star Continental European Equity I GBP

  • 2604.23p
    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.

  • 2777.99p
    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!

  • 0.85%
    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).

  • 0.96%
    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.

  • 0.10%
    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 01 March 2021

The investment objective of the Fund is to achieve capital appreciation. The Fund seeks to achieve this objective by investing primarily in equity (e.g. shares) and equity related securities (e.g. warrants) listed on Recognised Markets within the EU and issued by companies with principal offices in Europe other than the UK. The fund manager will select investments using a fundamental, bottom-up investment approach.

Fund summary

Sector
Structure OFFSHORE FUND
Launched July, 2012
Size £589m
Yield 0.10%
Charging basis
Dividends paid

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.85%
Ongoing charges figure 0.96%

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Investment process

Manager research

Average monthly relative returns

  • 16/17 -0.39%
  • 17/18 -0.20%
  • 18/19 -0.76%
  • 19/20 0.24%
  • 20/21 1.61%

Bestinvest MRI

  • 3 years 0.36%
  • 5 years 0.10%
  • Career 0.27%
  • 3 years 93.30%
  • 5 years 80.20%
  • Career 99.80%

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

Niall Gallagher

Gallagher, a Director, joined Merrill Lynch Investment Managers European Equity Team in 1998, where he was responsible for managing European and Irish equity portfolios, and Financials research. He transferred to the Global Team in October 2000, with primary responsibility for Financials investments, as well as portfolio construction responsibilities for Global ex Japan mandates. In September 2003 he returned to the European team as manager of the ML European Dynamic Fund, and with responsibility for European Financials research. Gallagher heads up Merrill Lynch Investment Managers Global Financials Sector Group. He began his career at the Bank of England in 1995 where he worked as an Economist, specialising in Banking sector research. He attended Manchester Metropolitan University from where he has a BSc in Economics and Warwick University where he obtained an MSc in Economics.

Track record

Niall Gallagher has 14.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.27%. During the worst period of relative performance (from January 2016 - March 2019) there was a decline of 16% relative to the index. The worst absolute loss has been 24%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is more than 99%.

Periods of worst performance

Absolute -24.00% (April 2011 - September 2011)
Relative -16.00% (January 2016 - March 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.

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Key Investor Information - Income

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Key Investor Information - Accumulation

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