fund
M&G Pan European Select I
Concentrated portfolio of European (including UK) equities.
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1880.75p
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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2315.00p
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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0.93%
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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1.50%
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 deliver capital growth and income over the long term (that is, five years or more) through a concentrated portfolio of between 25 and 35 holdings from across Europe, including the UK. Stocks are selected based on their individual merits, with a focus on quality businesses where an element of change is helping to drive their value. Crucially, the fund manager will purchase shares in a company when short-term issues have provided a clear valuation opportunity, with a view to holding those shares over the long term.
Fund summary
| Sector | Europe Including UK |
| Structure | OEIC |
| Launched | August, 2012 |
| Size | £139m |
| Yield | 1.50% |
| Charging basis | Capital |
| Dividends paid | 30 Apr, 31 Oct |
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 | 0.93% |
Allocation
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Investment process
Manager research
Average monthly relative returns
- 16/17 -0.20%
- 17/18 0.01%
- 18/19 -0.37%
- 19/20 0.37%
- 20/21 0.28%
Bestinvest MRI
- 3 years 0.09%
- 5 years 0.02%
- Career 0.00%
- 3 years 76.70%
- 5 years 69.50%
- Career 70.20%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
John William Olsen
Prior to joining M&G in April 2014, Olsen spent 16 years with Danske Capital where he became portfolio manager for the firm’s Global StockPicking and Global Select Funds, as well as its European Select equity strategy in 2002. He joined Danske Capital from Danske Bank in 1998, working first in Danish equities and then global telecommunications and technology equities analysis.
Track record
John William Olsen has 6.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +00%. During the worst period of relative performance (from September 2015 - March 2018) there was a decline of 9% relative to the index. The worst absolute loss has been 15%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is
Periods of worst performance
| Absolute | -15.00% (January 2020 - March 2020) |
| Relative | -9.00% (September 2015 - March 2018) |
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
| 6.7% | Novo-Nordisk As |
| 6.2% | Schneider Electric Se |
| 5.7% | Dsv Panalpina As |
| 5.4% | Fresenius Medical Care Ag & Co.kgaa |
| 5.3% | Nestle Sa |
| 5% | Akzo Nobel Nv |
| 4.9% | Linde Ag |
| 4.9% | Kuehne & Nagel International Ag |
| 4.8% | Reckitt Benckiser Group Plc |
| 4.7% | Unilever |
| Source: Trustnet |
Sector breakdown
| Industrials | 23.00% |
| Health Care | 18.00% |
| Consumer Staples | 15.00% |
| Materials | 11.00% |
| Consumer Discretionary | 10.00% |
| Information Technology | 8.00% |
| Financials | 6.00% |
| Energy | 4.00% |
| Communications | 4.00% |
| Money Market | 1.00% |