Man GLG Continental European Growth Ret A

Concentrated portfolio of European (ex UK) equities.

  • 634.50p
    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.

  • -
    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?

  • 5.00% 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).

  • 1.65%
    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.

  • 0.00%
    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 25 November 2020, fund data last updated 01 August 2003

The objective of the Fund is to achieve above average long-term capital growth through investing, directly or indirectly, in the quoted securities of companies listed on European Stock Exchanges.

Fund summary

Sector Europe Excluding UK
Structure OEIC
Launched July, 1998
Size £2,096m
Yield 0.00%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.65%

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.66%
  • 16/17 0.12%
  • 17/18 0.19%
  • 18/19 -0.19%
  • 19/20 1.87%

Bestinvest MRI

  • 3 years 0.62%
  • 5 years 0.53%
  • Career 0.51%
  • 3 years 95.60%
  • 5 years 97.90%
  • Career 95.80%

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

Rory Powe

Modern History graduate from Trinity College, Oxford. Began career with INVESCO’s European Desk in 1986 as a graduate trainee and managed the European Growth fund from 1991. From 1998, he has headed the European team and from end-1999, INVESCO’s Pan-European Equity Team until 2001. Powe launched Powe Capital Management in 2001, and having developed the fundamental growth strategy there, he moved it to GLG in July 2014.

Track record

Rory Powe has 10.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.51%. During the worst period of relative performance (from February 2000 - November 2001) there was a decline of 45% relative to the index. The worst absolute loss has been 58%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 96%.

Periods of worst performance

Absolute -58.00% (February 2000 - September 2001)
Relative -45.00% (February 2000 - November 2001)

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 July 2020

7.4525% Sap Se
7.2085% Chr Hansen Hldgs A/S
6.0946% L`Oreal
6.0791% Delivery Hero Ag Ord
5.2362% Nestle Sa
4.6169% Adyen
4.5726% Asml Holding Nv
4.5371% Novo Nordisk A/S
4.173% Ferrari Nv
4.0033% Lvmh Moet Hennessy Vuitton Se
Source: Trustnet

Sector breakdown

Consumer Discretionary 24.00%
Information Technology 22.00%
Health Care 15.00%
Consumer Staples 12.00%
Industrials 11.00%
Materials 10.00%
Financials 3.00%
Communications 2.00%
Money Market 1.00%

Key Investor Information

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