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Income shares
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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 86 / 100 83 / 94
Quartile 4 4

Fund ratings

FE Crown Rating: 2 FE Crown Rating


  1y 3y
Volatility 11.52 14.88
Alpha -2.76 -2.23
Beta 1.06 1.03
Sharpe 0.00 0.64
Info Ratio -1.00 -0.59
R2 0.95 0.95
Quartiles:   1  2  3  4   help with ratios
vs. Europe Excluding UK»

FE Risk Scores

Instrument 1y(%) Growth FE Risk Score
Europe Excluding UK -5.0
M&G European -7.7
Cash n/a
Compare this fund to its peers using FE Risk Scores>>
Learn more about using FE Risk Scores>>
performance chart
ACC -7.7+23.1+22.5+31.6+1.4-3.1+2.8
  EUROPE EXCLUDING UK   -5.0+32.5+37.6+34.6+3.6-4.6+8.9
Clean share class
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf M&G EUROPEAN I ACC GBP ACC 1334.84 (p) 31-Oct-2014 1.90 0.95% 0ZD7 B7L2746
pdf M&G EUROPEAN I INC GBP INC 1280.79 (p) 31-Oct-2014 1.94 0.95% 0ZD8 B76N7B1
pdf M&G EUROPEAN R ACC GBP ACC 132.80 (p) 31-Oct-2014 1.66 1.20% 0ZD9 B7GWVY9
pdf M&G EUROPEAN R INC GBP INC 128.07 (p) 31-Oct-2014 1.69 1.20% 0ZDA B5WM2M4
pdf M&G EUROPEAN C ACC EUR ACC 14.18 (EUR) 31-Oct-2014 1.88 0.95% MM47 3092907
Other share classes
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf M&G EUROPEAN A ACC GBP ACC 2083.91 (p) 31-Oct-2014 1.11 1.70% MG10 3092877
pdf M&G EUROPEAN A INC GBP INC 1410.71 (p) 31-Oct-2014 1.14 1.70% MG40 3092822
pdf M&G EUROPEAN A ACC EUR ACC 12.83 (EUR) 31-Oct-2014 1.18 1.70% MM45 3092899
pdf M&G EUROPEAN X INC GBP INC 1397.06 (p) 31-Oct-2014 1.14 1.70% MW62 3195033
pdf M&G EUROPEAN X ACC GBP ACC 2061.98 (p) 31-Oct-2014 1.13 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£169.4m / $271.3m (30-Sep-14)
Savings plan Fund has Savings Plan Minimum: £ 10.0 Monthly Launch24-Jul-1972
Pricing times12:00 Daily Dealing frequencyDaily
Dealing timesMon-Fri 08:00 to 18:00
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, 30-Sep-2014
Holding (%) Rank Fund factsheet Equity factsheet
Roche 4.26 1 - -
Nestle 4.12 2 - -
Bayer 3.93 3 - -
Zurich Financial 3.54 4 - -
ING Groep 3.29 5 - -
Novartis 3.15 6 - -
Total 3.01 7 - *
Pandora 2.81 8 - -
Societe Generale 2.70 9 - -
SAP 2.57 10 - -
Regional weightings, 30-Sep-2014
Germany24.531 24.53% Germany
Switzerland20.842 20.84% Switzerland
France13.633 13.63% France
Other10.134 10.13% Other
Sweden7.085 7.08% Sweden
Spain6.876 6.87% Spain
Netherlands5.747 5.74% Netherlands
Denmark4.238 4.23% Denmark
Austria3.959 3.95% Austria
Cash and near cash3.0010 3.00% Cash and near cash
Sector weightings, 30-Sep-2014
Consumer goods22.191 22.19% Consumer goods
Financials19.302 19.30% Financials
Industrials12.523 12.52% Industrials
Healthcare12.214 12.21% Healthcare
Oil & gas10.125 10.12% Oil & gas
Basic materials9.946 9.94% Basic materials
Consumer services5.427 5.42% Consumer services
Technology5.308 5.30% Technology
Cash and near cash3.009 3.00% Cash and near cash

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, 24.53%
24.5300% ofGerman Equities
Swiss Equities, 20.84%
20.8400% ofSwiss Equities
French Equities, 13.63%
13.6300% ofFrench Equities
International Equities, 10.13%
10.1300% ofInternational Equities
Swedish Equities, 7.08%
7.0800% ofSwedish Equities
Spanish Equities, 6.87%
6.8700% ofSpanish Equities
Dutch Equities, 5.74%
5.7400% ofDutch Equities
Danish Equities, 4.23%
4.2300% ofDanish Equities
Austrian Equities, 3.95%
3.9500% ofAustrian Equities
Money Market, 3.00%
3.0000% ofMoney Market

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