LF Odey Continental European R

Targets capital growth from a concentated portfolio of European equities.

  • 991.68p Price (Inc)
  • - Price (Acc)
  • 0.00% Initial charge
  • 1.50% Annual management charge
  • 1.58% Ongoing charges
  • 0.50% Yield

Prices as at 09 December 2019, fund data last updated 02 April 2014

The Fund targets long term capital appreciation through investing primarily in securities issued by companies with principal offices in Continental Europe.

Fund summary

Sector Flexible Investment
Structure OEIC
Launched April, 1997
Size £145m
Yield 0.50%
Charging basis Income
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 1.50%
Ongoing charges figure 1.58%

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Investment process

Manager research

Average monthly relative returns

  • 14/15 0.00%
  • 15/16 -0.40%
  • 16/17 -0.36%
  • 17/18 0.38%
  • 18/19 -0.70%

Bestinvest MRI

  • 3 years -0.23%
  • 5 years 0.00%
  • Career 0.27%
  • 3 years 34.50%
  • 5 years 0.00%
  • Career 95.50%

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

Oliver Kelton

Kelton joined Odey in March 2015, bringing with him the Waverton European fund (now Odey European Focus). He joined Waverton in 2001 as a European equity analyst. Since 2003 he has been managing specialist Pan-European equity portfolios and took over running the Waverton European Fund in April 2010. From May 2007 he was also the manager of the Pepin Fund, a plain vanilla long / short European equity Fund which was closed in April 2013. He has a 1st class honours degree in Economics and Politics from Bristol University and is a CFA charterholder.

Track record

Oliver Kelton has 9.4 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.27%. During the worst period of relative performance (from February 2016 - July 2019) there was a decline of 15% relative to the index. The worst absolute loss has been 13%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 96%.

Periods of worst performance

Absolute -13.00% (May 2015 - September 2015)
Relative -15.00% (February 2016 - July 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 28 June 2019

9.29% Orange Sa
7.28% Koninklijke Kpn Nv
6.59% Telefonaktiebolaget Lm Ericsson
6.42% Deutsche Telekom Ag
5.1% H & M Hennes & Mauritz
4.8% Bouygues
4.68% Roche Hldg Ag
4.25% Vivendi
3.52% Gea Group Ag
2.08% Industria De Diseno Textil Sa
Source: Trustnet

Sector breakdown

Money Market 45.00%
Communications 27.00%
Industrials 8.00%
Consumer Discretionary 7.00%
Information Technology 7.00%
Health Care 5.00%
Energy 1.00%

Key Investor Information

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