Smith & Williamson European Equity A

  • 714.60p
    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?

  • 5.00% 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!

  • 1.50%
    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).

  • 1.57%
    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 18 September 2020

The fund's objective is to achieve long-term growth of capital primarily through investment in Europe. The Manager will invest where there are good prospects for above average growth and also in those companies which can best take advantage of economic opportunities.

Fund summary

Sector Europe Excluding UK
Structure UNIT TRUST
Launched May, 1990
Size £24m
Yield 0.10%
Charging basis Income
Dividends paid 10 Jul

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.57%

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Investment process

Manager research

Average monthly relative returns

  • 15/16 -0.93%
  • 16/17 0.53%
  • 17/18 -0.10%
  • 18/19 0.03%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.58%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 2.30%

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

Giles Worthington

Worthington graduated from St Hughes College, Oxford, with an MA in Modern History. In 1995 he joined INVESCO where he managed segregated European Smaller Companies funds and a Global Smaller Companies fund. Prior to this, he worked for law firm Simmons and Simmons. He joined M&G in 2001, intially as manager for its European Smaller Companies fund and later its Pan European fund. In 2011 he moved to RiverCrest Capital where he managed the RiverCrest European Equity Alpha between 2011 and 2014. He joined Smith & Williamson in 2014.

Track record

Giles Worthington has 5.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.58%. During the worst period of relative performance (from March 2001 - November 2006) there was a decline of 37% relative to the index. The worst absolute loss has been 65%.

Periods of worst performance

Absolute -65.00% (March 2001 - September 2002)
Relative -37.00% (March 2001 - November 2006)

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 30 June 2020

6.8% Teleperformance
5.3% Orpea
4.5% Vat Group Ag
3.8% Enel Spa
3.5% Sap Se
3.3% Ubisoft Entertainment
3.3% Kering Sa
3.3% Legrand Sa
3.1% Schneider Electric Se
3% Atlas Copco Ab
Source: Trustnet

Sector breakdown

Information Technology 26.00%
Industrials 24.00%
Health Care 17.00%
Consumer Discretionary 10.00%
Utilities 10.00%
Money Market 8.00%
Materials 5.00%

Key Investor Information

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