Schroder European Alpha Income Z

Large cap value fund targeting high income and capital growth.

  • 170.80p
    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.

  • 227.90p
    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).

  • 0.95%
    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.

  • 3.50%
    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…

Prices as at 15 January 2021

The fund aims to provide high income and some long-term capital growth through investment in equity and equity related securities of European companies.

Fund summary

Sector Europe Excluding UK
Structure OEIC
Launched May, 2012
Size £112m
Yield 3.50%
Charging basis Capital
Dividends paid Feb, May, Aug, Nov

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 0.95%

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Investment process

Manager research

Average monthly relative returns

  • 16/17 0.12%
  • 17/18 0.18%
  • 18/19 -0.51%
  • 19/20 0.04%
  • 20/21 -0.04%

Bestinvest MRI

  • 3 years -0.17%
  • 5 years -0.04%
  • Career 0.09%
  • 3 years 33.30%
  • 5 years 57.10%
  • Career 98.50%

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

Martin Skanberg

Skanberg joined Schroders in 2004 and started managing portfolios in 2006. He now manages the Schroder European and ISF EURO Equity funds. His investment career started in 1994 when he joined SEB Asset Management as an investment analyst for Nordic Industrials and Basic Materials, later becoming Head of European Research. He has also worked for American Express Asset Management as a senior investment analyst responsible for Industrials and Telecoms. Skanberg holds a Masters in Financial Economics.

Track record

Martin Skanberg has 15 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 February 2018 - May 2019) there was a decline of 11% relative to the index. The worst absolute loss has been 39%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 99%.

Periods of worst performance

Absolute -39.00% (December 2007 - February 2009)
Relative -11.00% (February 2018 - May 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

4.11% Merck Kgaa
4.09% Nestle Sa
3.95% Prosus N.v.
3.73% Alcon Ag
3.47% Asm International Nv
3.3% Beiersdorf Ag
3.3% Billerudkorsnas Ab
3.23% Air Liquide(L`)
3.21% St Microelectronics Nv
3.16% Fresenius Se & Co Kgaa
Source: Trustnet

Sector breakdown

Health Care 20.00%
Financials 18.00%
Basic Materials 13.00%
Industrials 11.00%
Technology 11.00%
Consumer Goods 8.00%
Consumer Services 5.00%
Oil & Gas 4.00%
Others 4.00%
Utilities 3.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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