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Contact details

M&G Group, Laurence Pountney Hill, London, EC4R 0HH
0800 328 3196 (Dealing)
20 7626 4588 (Enquiries)
0870 043 4200 (Fax Number)
0800 328 3191 (IFA Support)
0800 390 390 (Main Number)

Fund managers

* Charles Anniss21-Jan-2011 to Present
John William Olsen»01-Jul-2014 to Present
Greg Aldridge»21-Jan-2011 to 30-Jun-2014
Tim Short»01-Aug-2010 to 24-Jan-2011
Michael Stiasny»01-Jun-2007 to 31-Jul-2010
Giles Worthington»01-Jun-2007 to 30-Nov-2007
Cesar Perez»01-Dec-2002 to 31-May-2007
Susan Smith»01-Jul-1999 to 30-Nov-2002
David Walton»01-Jan-1998 to 01-Aug-1999

Investment objectives

The Fund’s prime objective is long term capital growth. It invests wholly or predominantly in a diversified portfolio of European (excluding United Kingdom) issuers. When not wholly invested as above, it may also invest in companies which are listed or registered outside Europe but trade within it. Income is of secondary importance when investments are selected.

Key Information

Fund vs sector

  1y 3y
Position 77 / 99 82 / 93
Quartile 4 4

Fund ratings

FE Crown Rating: 2 FE Crown Rating


  1y 3y
Volatility 10.64 12.13
Alpha -2.36 -1.73
Beta 1.05 0.96
Sharpe 0.00 0.83
Info Ratio -0.79 -0.75
R2 0.93 0.93
Quartiles:   1  2  3  4   help with ratios
vs. Europe Excluding UK»
performance chart
ACC -0.4+43.2+26.2+17.7+22.1-14.5+3.1
  EUROPE EXCLUDING UK   +1.6+54.8+41.0+23.6+23.3-16.8+9.5
Clean share class
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf M&G EUROPEAN I ACC GBP ACC 1340.12 (p) 19-Dec-2014 2.65 0.95% 0ZD7 B7L2746
pdf M&G EUROPEAN I INC GBP INC 1285.62 (p) 19-Dec-2014 2.71 0.95% 0ZD8 B76N7B1
pdf M&G EUROPEAN R ACC GBP ACC 133.28 (p) 19-Dec-2014 2.41 1.20% 0ZD9 B7GWVY9
pdf M&G EUROPEAN R INC GBP INC 128.51 (p) 19-Dec-2014 2.46 1.20% 0ZDA B5WM2M4
pdf M&G EUROPEAN C ACC EUR ACC 14.25 (EUR) 19-Dec-2014 2.62 0.95% MM47 3092907
Other share classes
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf M&G EUROPEAN A ACC GBP ACC 2089.94 (p) 19-Dec-2014 1.87 1.70% MG10 3092877
pdf M&G EUROPEAN A INC GBP INC 1414.63 (p) 19-Dec-2014 1.91 1.70% MG40 3092822
pdf M&G EUROPEAN A ACC EUR ACC 12.88 (EUR) 19-Dec-2014 1.94 1.70% MM45 3092899
pdf M&G EUROPEAN X INC GBP INC 1400.94 (p) 19-Dec-2014 1.92 1.70% MW62 3195033
pdf M&G EUROPEAN X ACC GBP ACC 2067.94 (p) 19-Dec-2014 1.89 1.70% MW63 3195044

The Ongoing Charges Figure (OCF) shows the drag on performance caused by operational expenses associated with a fund.

Expenses which are represented by this figure include payments to the manager, the trustee the custodian and their representatives. The figure also includes registration, regulatory, audit and legal fees, and the costs of distribution.

Performance fees, transaction costs, interest on borrowing, costs associated with derivatives, entry and exit fees and soft commissions are not included in the OCF calculation, and should be factored in separately by the investor.

The OCF is calculated by taking the sum of these expenses incurred in the last 12 months and dividing this by the average net assets of that class for the last 12 months.

Total Expense Ratio (TER) is a formula designed to show the ongoing costs to the investor associated with a fund, including some charges which are not factored into the annual management fee. In addition the fund’s annual fee, charges such as trading fees, audit and legal fees, and operational expenses are included in the TER, which is worked out by dividing the total cost of the fund by its total assets to arrive at a percentage.

Unlike the Ongoing Charges Figure, the TER takes into account performance fees. It does not include transaction costs paid to the custodian.

Detailed fund information
Fund type flag UK Open Ended Investment Company (OEIC)
Own ISA wrapper Fund has ISA Wrapper help with ratios Fund size£168.0m / $262.3m (31-Oct-14)
Savings plan Fund has Savings Plan Minimum: £ 10.0 Monthly Launch24-Jul-1972
Pricing times12:00 Daily Dealing frequencyDaily
Dealing timesn/a
Minimum initial£ 500
Minimum additional£ 100
Initial charge4.00%
Annual management charge1.50%
Note to chargesn/a
Trustee / DepositaryNational Westminster Bank plc
RegistrarInternational Financial Data Services (UK) Ltd
Dividend policySep 01 (Final)
Peer groups
Region Asset Class Investment Focus Sector
Europe Ex UK Equity Mixed Europe Excluding UK
Largest holdings, 31-Oct-2014
Holding (%) Rank Fund factsheet Equity factsheet
Roche 4.41 1 - -
Nestle 4.26 2 - -
Bayer 4.14 3 - -
Zurich Financial 3.73 4 - -
ING Groep 3.42 5 - -
Novartis 3.02 6 - -
Total 2.86 7 - *
Publicis 2.79 8 - -
Pandora 2.70 9 - -
Vienna Insurance 2.69 10 - -
Regional weightings, 31-Oct-2014
Germany24.091 24.09% Germany
Switzerland19.902 19.90% Switzerland
Other11.993 11.99% Other
France11.394 11.39% France
Sweden6.695 6.69% Sweden
Spain6.486 6.48% Spain
Netherlands5.747 5.74% Netherlands
Cash and near cash4.978 4.97% Cash and near cash
Austria4.509 4.50% Austria
Denmark4.2510 4.25% Denmark
Sector weightings, 31-Oct-2014
Consumer goods22.151 22.15% Consumer goods
Financials19.412 19.41% Financials
Industrials13.393 13.39% Industrials
Healthcare10.994 10.99% Healthcare
Basic materials10.355 10.35% Basic materials
Oil & gas9.546 9.54% Oil & gas
Consumer services5.587 5.58% Consumer services
Cash and near cash4.978 4.97% Cash and near cash
Technology3.629 3.62% Technology

All prices in Pence Sterling (GBX) unless otherwise specified. Price total return performance figures are calculated on a bid price to bid price basis (mid to mid for OEICs) with net income (dividends) reinvested. Performance figures are shown in Sterling unless otherwise specified.

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Asset allocation

German Equities, 24.09%
24.0900% ofGerman Equities
Swiss Equities, 19.90%
19.9000% ofSwiss Equities
International Equities, 11.99%
11.9900% ofInternational Equities
French Equities, 11.39%
11.3900% ofFrench Equities
Swedish Equities, 6.69%
6.6900% ofSwedish Equities
Spanish Equities, 6.48%
6.4800% ofSpanish Equities
Dutch Equities, 5.74%
5.7400% ofDutch Equities
Money Market, 4.97%
4.9700% ofMoney Market
Austrian Equities, 4.50%
4.5000% ofAustrian Equities
Danish Equities, 4.25%
4.2500% ofDanish Equities

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