M&G European Select A

A focussed portfolio of continental European equities.

  • 1958.47p
    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.

  • 3139.28p
    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?

  • 4.00% 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).

  • 1.67%
    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.

  • 2.40%
    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 16 January 2020, fund data last updated 01 January 2002

The fund is at least 80% invested in the shares of European companies, excluding the UK, with the aim of growing capital over the long term (three years or more). The fund manager selects stocks based on in-depth analysis of individual companies, seeking to invest in businesses with sustainable competitive advantages, which have the opportunity to reinvest their capital at high rates of return. A company’s strategy around the allocation of capital is central to the investment process, with the manager focusing on those that recognise the importance of growing dividends, which he believes will drive long-term capital growth. The fund usually holds shares in fewer than 50 companies.

Fund summary

Sector Europe Excluding UK
Structure OEIC
Launched July, 1972
Size £144m
Yield 2.40%
Charging basis Income
Dividends paid 31 Oct

Charges

Standard initial charge 4.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.67%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.16%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 40.50%

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

Richard Halle

Halle is a director of equities and joined the equity team in 1999 as an investment analyst specialising in the insurance sector. He subsequently moved to the European team, where he is a fund manager. Before joining the company, he worked as a security analyst for the Sedgwick Group. Prior to that, he was an accountant for an insurance company in South Africa after leaving Andersen Consulting, his first employer. Halle graduated from the University of Natal in Durban with a bachelor of commerce. He is a CFA charterholder.

Track record

Richard Halle has 8.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.16%. During the worst period of relative performance (from June 2004 - August 2019) there was a decline of 18% relative to the index. The worst absolute loss has been 38%.

Periods of worst performance

Absolute -38.00% (December 2007 - February 2009)
Relative -18.00% (June 2004 - 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 30 November 2019

6.1% Roche Hldg Ag
4.9% Nestle Sa
4.9% Novartis Ag
4.7% Total Sa
4.5% Siemens Ag
3.3% Koninklijke Ahold Delhaize Nv
3.2% Bayer Ag
3.2% Securitas Ab
3% Kbc Groupe Sa
2.9% Unilever
Source: Trustnet

Sector breakdown

Health Care 20.00%
Industrials 18.00%
Financials 15.00%
Consumer Goods 13.00%
Consumer Services 10.00%
Basic Materials 8.00%
Oil & Gas 8.00%
Money Market 5.00%
Technology 2.00%
Utilities 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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