Royal London European Growth A

European equity growth fund with a focus on security selection.

  • 1006.00p
    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?

  • 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!

  • 1.25%
    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).

  • 1.29%
    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.

  • 0.60%
    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 27 November 2020, fund data last updated 01 January 2002

The Fund seeks to achieve capital growth. A broadly based continental European equity fund drawing on the fund manager’s growth style and a process driven by stock selection.

Fund summary

Sector Europe Excluding UK
Structure OEIC
Launched March, 1987
Size £1,686m
Yield 0.60%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 4.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.25%
Ongoing charges figure 1.29%

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 -0.31%
  • 18/19 -0.24%
  • 19/20 0.26%

Bestinvest MRI

  • 3 years -0.10%
  • 5 years 0.00%
  • Career -0.10%
  • 3 years 39.70%
  • 5 years 0.00%
  • Career 38.20%

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

Sebastien Beguelin / Steve Bolton

Beguelin joined Royal London in 2014, and has worked on the European funds initially as an Equity Analyst and as Assistant Fund Manager since April 2017. Before joining Royal London, he worked in Paris as an Equity Analyst at Sycomore Asset Management and prior to that was an Equity Analyst at Comgest. Beguelin holds a Bachelor in Economics from the University of Savoy, a Master in Management from the Toulouse Business School in France and is a CFA Charterholder. Bolton has worked on the European funds since October 2016. He joined Royal London in August 2013 following the acquisition of The Co-operative Asset Management by the Royal London Group where he worked as Assistant Fund Manager on the Sustainable funds. Bolton previously worked as an Investment Research Analyst covering both equities and investment grade credit. After graduating with a Law degree, he became a CFA Charterholder in 2012.

Track record

Sebastien Beguelin / Steve Bolton has 3.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.1%. During the worst period of relative performance (from October 2017 - October 2019) there was a decline of 7% relative to the index. The worst absolute loss has been 16%.

Periods of worst performance

Absolute -16.00% (July 2019 - March 2020)
Relative -7.00% (October 2017 - October 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 31 July 2020

6.6629% Nestle Sa
4.7502% Roche Hldg Ag
3.991% Sap Se
3.5546% Lvmh Moet Hennessy Vuitton Se
3.1548% Asml Holding Nv
2.8403% Allianz Se
2.791% L'oreal Eur0.20
2.6975% Adidas Ag
2.5084% Novo Nordisk A/S
2.468% Sika Ag
Source: Trustnet

Sector breakdown

Consumer Goods 22.00%
Health Care 19.00%
Industrials 17.00%
Financials 14.00%
Technology 12.00%
Utilities 6.00%
Basic Materials 6.00%
Oil & Gas 2.00%
Consumer Services 2.00%
Telecommunications 1.00%

Key Investor Information

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