Ninety One GSF European Equity A USD

Targets long term capital growth from European (including UK) equities

  • 43876.69p
    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.

  • 1978.20p
    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!

  • 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).

  • 1.94%
    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.

  • 1.30%
    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 24 November 2020, fund data last updated 04 March 2013

The Fund aims to achieve long-term capital growth primarily through investment in companies either listed and/or domiciled in Europe, or established outside of Europe but carrying out a significant portion of their business activities in Europe.

Fund summary

Sector
Structure OFFSHORE FUND
Launched November, 2012
Size £927m
Yield 1.30%
Charging basis Income
Dividends paid Jun, Dec

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 1.94%

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.38%
  • 16/17 -0.28%
  • 17/18 -0.08%
  • 18/19 0.16%
  • 19/20 -0.13%

Bestinvest MRI

  • 3 years -0.02%
  • 5 years 0.01%
  • Career 0.09%
  • 3 years 50.00%
  • 5 years 50.00%
  • Career 84.90%

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

Ken Hsia

Hsia joined Investec in 2004 where he is currently responsible for their European Equity strategy and also provides research support on the industrials sector for the 4Factor UK Equity team. Hsia also managed the UK Alpha/Aggressive strategy from June 2006 to April 2012. Prior to joining Investec, Hsia co-founded MoVa Investment Partners, a hedge fund where he was involved in managing a portfolio focused on European small and mid-cap stocks. Prior to that, he spent 8 years at Fidelity Investments as an equity analyst covering a range of sectors, including UK and European Auto components, Construction, Non-food Retail and Utilities. Hsia graduated from New College, Oxford, with a DPhil in Organic Chemistry. He is also an associate member of UKSIP.

Track record

Ken Hsia has 7.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.09%. During the worst period of relative performance (from June 2008 - November 2011) there was a decline of 15% relative to the index. The worst absolute loss has been 40%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 85%.

Periods of worst performance

Absolute -40.00% (May 2007 - February 2009)
Relative -15.00% (June 2008 - November 2011)

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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Key Investor Information - Income

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Key Investor Information - Accumulation

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