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Premier Miton European Opportunities B

A multi-cap continental European equity fund.

  • 285.27p
    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?

  • 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!

  • 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).

  • 0.84%
    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.

  • 0.10%
    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 26 February 2021

The fund aims to achieve a combination of income and growth through investment in the shares of European companies, with a bias towards mid-cap stocks with a market capitalisation of between £2 billion and £15 billion.

Fund summary

Sector Europe Excluding UK
Structure OEIC
Launched December, 2015
Size £2,240m
Yield 0.10%
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 0.75%
Ongoing charges figure 0.84%

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Investment process

Manager research

Average monthly relative returns

  • 16/17 0.26%
  • 17/18 0.89%
  • 18/19 0.57%
  • 19/20 0.79%
  • 20/21 1.93%

Bestinvest MRI

  • 3 years 1.10%
  • 5 years 0.89%
  • Career 0.87%
  • 3 years 99.80%
  • 5 years 100.00%
  • Career 100.00%

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

Carlos Moreno / Thomas Brown

Born on 21st July 1971, Moreno has a BSc and an MEng from Exeter University (1993) and did postgraduate study at Cambridge University (1994). He began his career at Fidelity in 1994, spending four years as a research associate and three as an analyst before becoming a portfolio manager in 2003. He then joined Thames River where he ran the European Dynamic Growth fund, before moving to JO Hambro where he managed the JO Hambro All Europe Dynamic Growth Fund from 2011 until 2015. Moreno joined Miton Group in August 2015.

Track record

Carlos Moreno / Thomas Brown has 5.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.87%. During the worst period of relative performance (from August 2018 - November 2018) there was a decline of 7% relative to the index. The worst absolute loss has been 18%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is more than 99%.

Periods of worst performance

Absolute -18.00% (August 2018 - December 2018)
Relative -7.00% (August 2018 - November 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 August 2020

3.96% Soitec
3.46% Finecobank Spa
3.35% Asml Holding Nv
3.13% Adevinta Asa
2.81% Sika Ag
2.81% Cts Eventim Ag & Co Kgaa
2.81% Homeserve
2.49% Avanza Bank Hldg Ab
2.46% Porsche Automobil Hldg Se Non Vtg Prf Npv
2.45% Interroll Hldg Ag
Source: Trustnet

Sector breakdown

Industrials 22.00%
Information Technology 19.00%
Financials 17.00%
Health Care 15.00%
Communications 13.00%
Consumer Discretionary 6.00%
Materials 4.00%
Consumer Staples 4.00%

Key Investor Information

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