Invesco European Focus (UK) Y

A multi-cap continental European equity fund targeting capital growth.

  • 286.51p
    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.

  • 326.60p
    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!

  • 0.90%
    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).

  • 0.90%
    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.

  • 1.40%
    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 17 September 2021

The fund aims to achieve capital growth through a portfolio of investments primarily in European companies, excluding the UK. In pursuing this objective, the fund managers may invest in transferable securities, money market instruments, warrants, collective investment schemes and deposits.

Fund summary

Sector Europe Excluding UK
Structure OEIC
Launched March, 2014
Size £28m
Yield 1.40%
Charging basis Income
Dividends paid 31 Dec

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.90%
Ongoing charges figure 0.90%

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Investment process

Manager research

Average monthly relative returns

  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%
  • 20/21 0.45%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.39%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

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

John Surplice / James Rutland

Surplice graduated from Edinburgh University with a first class degree in Economics and Accounting in 1992, then began his career at Price Waterhouse where he became ACA qualified. He joined INVESCO Perpetual in 1995. Based in Henley-on-Thames, he is responsible for the management of a number of Pan European retail and institutional mandates. Rutland joined Invesco as a fund manager in June 2020. He was previously at Schroders, where he spent more than five years as a member of its European Equities team before co-managing the Schroder ISF European Alpha Focus fund and Schroder ISF European Opportunities fund. He also played a supporting role on the Schroder European Alpha Income and Schroder European Alpha Plus funds. Prior to this he was an Associate for four years at Goldman Sachs in the construction team, where he was responsible for client marketing and relationships, corporate access and product research. Before this he worked at Evercore Partners as an analyst.

Track record

The track record of John Surplice / James Rutland in managing mutual funds in this sector is still too short for us to draw any meaningful conclusions and so our assessment is based largely on qualitative aspects.

Periods of worst performance

Absolute -7.00% (August 2020 - October 2020)
Relative -5.00% (March 2021 - July 2021)

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

5.99% Sanofi
4.91% Roche Hldg Ag
3.6% Deutsche Post Ag
3.38% Upm-Kymmene Oyj
3.33% Carrefour
3.18% Axa
2.99% Deutsche Telekom Ag
2.94% Yara International Asa
2.88% Sbm Offshore N.v.
2.85% Total Se
Source: Trustnet

Sector breakdown

Health Care 20.00%
Financials 18.00%
Industrials 14.00%
Oil & Gas 10.00%
Technology 9.00%
Telecommunications 8.00%
Utilities 7.00%
Basic Materials 6.00%
Consumer Services 5.00%
Consumer Goods 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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