fund
Lazard European Alpha C
A portfolio of high conviction European stocks with a large cap bias.
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850.50p
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.
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1042.80p
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?
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0.00%
Initial chargeSome 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!
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0.75%
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).
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0.81%
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.
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0.80%
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 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 | November, 2012 |
| Size | £79m |
| Yield | 0.80% |
| Charging basis | Income |
| Dividends paid | 31 May, 30 Nov |
Charges
| Standard initial charge | 0.00% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.75% |
| Ongoing charges figure | 0.81% |
Allocation
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Investment process
Manager research
Average monthly relative returns
- 16/17 -0.61%
- 17/18 0.15%
- 18/19 -0.41%
- 19/20 0.03%
- 20/21 0.03%
Bestinvest MRI
- 3 years -0.12%
- 5 years -0.16%
- Career -0.01%
- 3 years 38.60%
- 5 years 22.10%
- Career 91.00%
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 14.2 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.01%. 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
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Top 10 holdings
Data accurate as at 31 July 2020
| 5.2% | Novartis Ag |
| 4.9% | Sap Se |
| 3.7% | Sanofi |
| 3.5% | Royal Dsm |
| 3.3% | Unilever |
| 3.2% | Lvmh Moet Hennessy Vuitton Se |
| 3.1% | Abb Ltd |
| 3% | Enel Spa |
| 2.9% | Roche Hldg Ag |
| 2.6% | Vivendi |
| Source: Trustnet |
Sector breakdown
| Consumer Goods | 17.00% |
| Financials | 15.00% |
| Health Care | 15.00% |
| Technology | 14.00% |
| Industrials | 11.00% |
| Basic Materials | 10.00% |
| Consumer Services | 7.00% |
| Utilities | 6.00% |
| Oil & Gas | 4.00% |
| Others | 1.00% |