LF Canlife European C

  • 172.45p
    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.

  • -
    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!

  • 0.75%
    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).

  • 0.86%
    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 18 June 2021

The fund aims to provide capital growth primarily from investment in shares quoted on European markets (usually this will exclude the United Kingdom). The managers process focuses on fundamental bottom-up analysis which is supplemented with a macro-economic overlay. The managers take an unconstrained approach, seeking to make the most of Europe’s potential with the freedom to invest anywhere in the region and across the market-cap spectrum.

Fund summary

Sector Europe Excluding UK
Structure OEIC
Launched July, 2014
Size £54m
Yield 1.40%
Charging basis
Dividends paid Acc units only

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 0.86%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 16/17 0.00%
  • 17/18 -0.11%
  • 18/19 -0.23%
  • 19/20 -0.09%
  • 20/21 -0.30%

Bestinvest MRI

  • 3 years -0.21%
  • 5 years 0.00%
  • Career -0.08%
  • 3 years 7.80%
  • 5 years 0.00%
  • Career 68.40%

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

Iain McNeill

McNeill joined Norwich Union in 1997, having started off in the investment industry with General Accident in 1987. He took over as Head of Morley’s (formerly Norwich Union Investment Management) European desk following the departure of Jeff Currington in October 2001, having been no. 2 to Currington for over four years and so familiar with the process. In August 2002 he moved to Insight Investment. He moved to Canlife Investments in August 2012.

Track record

Iain Mcneill has 14.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.08%. During the worst period of relative performance (from June 2002 - November 2020) there was a decline of 18% relative to the index. The worst absolute loss has been 41%.

Periods of worst performance

Absolute -41.00% (December 2007 - February 2009)
Relative -18.00% (June 2002 - November 2020)

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

7% Nestle Sa
4.7% Roche Hldg Ag
4.5% Sap Se
4.1% Asml Holding Nv
3.2% Novo-Nordisk As
2.9% Lvmh Moet Hennessy Vuitton Se
2.8% Allianz Se
2.8% Novartis Ag
2.7% Iberdrola Sa
2.7% Philips
Source: Trustnet

Sector breakdown

Health Care 18.00%
Industrials 16.00%
Consumer Staples 15.00%
Financials 13.00%
Information Technology 10.00%
Materials 9.00%
Consumer Discretionary 8.00%
Utilities 4.00%
Communications 4.00%
Others 4.00%

Key Investor Information

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