Lazard European Alpha B

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

  • 808.06p
    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.

  • 923.74p
    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?

  • 3.75% 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).

  • 1.58%
    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.

  • 1.90%
    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 January 2020, 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 £80m
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%

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Investment process

Manager research

Average monthly relative returns

  • 15/16 0.40%
  • 16/17 -0.28%
  • 17/18 -0.02%
  • 18/19 -0.24%
  • 19/20 -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.

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Top 10 holdings

Data accurate as at 30 November 2019

5.3% Novartis Ag
3.6% Safran S.a.
3.6% Sap Se
3.5% Sanofi
3.4% Air Liquide(L`)
2.8% Scout 24
2.6% Engie Sa
2.5% Porsche Capital Market Ltd
2.5% Royal Dsm
2.4% Vivendi
Source: Trustnet

Sector breakdown

Financials 16.00%
Technology 14.00%
Health Care 13.00%
Consumer Goods 13.00%
Industrials 12.00%
Basic Materials 10.00%
Consumer Services 8.00%
Oil & Gas 6.00%
Money Market 3.00%
Utilities 3.00%

Key Investor Information - Income

Download

Key Investor Information - Accumulation

Download