TM CRUX European I GBP

Mainly large cap equity fund run by an experienced manager in Richard Pease.

  • 153.05p
    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.

  • 172.27p
    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).

  • 0.96%
    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.

  • 1.00%
    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 20 January 2022, we don’t currently provide commentary on this fund.

The investment objective of the Fund is to achieve long-term capital growth by investing primarily in equities of European companies.

Fund summary

Sector Europe Excluding UK
Structure OEIC
Launched October, 2015
Size £88m
Yield 1.00%
Charging basis
Dividends paid 28 Feb, 31 May, 31 Aug, 30 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 0.96%

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Investment process

Manager research

Average monthly relative returns

  • 17/18 -0.26%
  • 18/19 -0.23%
  • 19/20 -0.14%
  • 20/21 -0.07%
  • 21/22 -0.32%

Bestinvest MRI

  • 3 years -0.18%
  • 5 years -0.21%
  • Career 0.18%
  • 3 years 28.10%
  • 5 years 20.30%
  • Career 97.40%

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

Richard Pease / James Milne

Pease has over three decades of experience in the financial industry. After running funds with the Central Board of Finance and Windsor Investment Management, he joined Jupiter Asset Management in 1989 where he started and ran the Jupiter European Fund and several other European vehicles. In 2001 he helped set up New Star Asset Management where he launched and managed onshore and offshore European funds. On Henderson’s acquisition of New Star in April 2009, he became a Director of European Equities. In October 2009, Pease launched the Henderson European Special Situations Fund. Pease joined CRUX in 2015 following a Scheme of Arrangement which allowed him to merge the Henderson European Special Situations Fund with the CRUX European Special Situations Fund. Milne worked at Henderson Global Investors as a European equities fund manager from April 2009 until he joined CRUX in June 2015. Milne co-manages the TM CRUX European Special Situations Fund and TM CRUX European Fund with Richard Pease. Before Henderson Milne previously worked at New Star Asset Management, which he joined in July 2006. Milne began his career in 2002 at KPMG in London where he qualified as a chartered accountant before moving into corporate finance.

Track record

Richard Pease / James Milne has 12.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.18%. During the worst period of relative performance (from September 2016 - May 2021) there was a decline of 16% relative to the index. The worst absolute loss has been 22%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 97%.

Periods of worst performance

Absolute -22.00% (April 2011 - September 2011)
Relative -16.00% (September 2016 - May 2021)

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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Top 10 holdings

Data accurate as at 30 November 2021

4.206% Novo-Nordisk As
3.9641% Asml Holding Nv
3.699% Nestle Sa
3.2912% Lvmh Moet Hennessy Vuitton Se
3.0229% Essilorluxottica
2.7873% Capgemini Se
2.6791% Sampo Corp
2.3436% Wolters-Kluwer Nv
2.2921% Schneider Electric Se
2.1696% Eurofins Scientific Se
Source: Trustnet

Sector breakdown

Capital Goods 13.00%
Software 11.00%
Banks 9.00%
Consumer Durables 9.00%
Semi Conductors 9.00%
Biotechnology/Medical 8.00%
Food, Beverages and Tobacco 6.00%
Transport 4.00%
Materials 4.00%
Money Market 4.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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