Lazard European Alpha B

A portfolio of high conviction European stocks with a large cap bias.

  • 770.46p Price (Inc)
  • 880.77p Price (Acc)
  • 3.75% 0.00% Initial charge
  • 1.50% Annual management charge
  • 1.58% Ongoing charges
  • 1.90% Yield

Prices as at 06 December 2019, fund data last updated 15 March 2007

The fund aims to achieve long-term capital growth by investing in shares of continental European companies.

Fund summary

Sector Europe Excluding UK
Structure OEIC
Launched September, 1999
Size £78m
Yield 1.90%
Charging basis Income
Dividends paid 31 May, 30 Nov

Charges

Standard initial charge 3.75%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.58%

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Investment process

Manager research

Average monthly relative returns

  • 14/15 0.40%
  • 15/16 -0.28%
  • 16/17 -0.02%
  • 17/18 -0.24%
  • 18/19 -0.23%

Bestinvest MRI

  • 3 years -0.17%
  • 5 years -0.08%
  • Career -0.02%
  • 3 years 22.40%
  • 5 years 51.60%
  • Career 86.00%

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

Aaron Barnfather

Barnfather has a BA (Hons) in Business Studies, an MSc in Investment Analysis and is a member of UKSIP. He began his career in 1994 at Sun Alliance as an analyst and became a fund manager for what was now Royal & Sun Alliance in 1996.Fund responsibilities included fund manager for the Overseas European Unit Trust (Sicav), while also becoming responsible for a number of Pan European ex UK institutional mandates. In April 2000 he jointly launched the Pan European Eurotech Fund. In September 2001 he joined Newton, where he managed their Pan European and European Higher Income funds before moving to Lazard in 2008.

Track record

Aaron Barnfather has 13 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.02%. During the worst period of relative performance (from September 2015 - August 2019) there was a decline of 12% relative to the index. The worst absolute loss has been 36%.

Periods of worst performance

Absolute -36.00% (May 2008 - February 2009)
Relative -12.00% (September 2015 - August 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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Top 10 holdings

Data accurate as at 31 August 2019

5.2% Novartis Ag
3.3% Sap Se
3.3% Sanofi
3.3% Safran S.a.
3.2% Air Liquide(L`)
2.9% Royal Dsm
2.9% Vivendi
2.6% Unilever
2.5% Engie Sa
2.3% Asml Holding Nv
Source: Trustnet

Sector breakdown

Financials 15.00%
Industrials 14.00%
Consumer Goods 14.00%
Health Care 13.00%
Technology 12.00%
Basic Materials 10.00%
Consumer Services 8.00%
Oil & Gas 7.00%
Utilities 2.00%
Money Market 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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