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Tailored for investment professionals this site provides information on our products, strategies and services. Please remember capital is at risk and past performance is not a guide to the future.

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Investec European Equity Fund

The Fund aims to provide an attractive level of growth by investing in European companies or companies which carry out a large proportion of their business activities in Europe.

Fund highlights

 

Why choose the Investec European Equity Fund?

  • Aims to invest in high-quality European companies with attractive valuations. 
  • High conviction risk-aware portfolio of up to 70 European stocks*. 
  • Employs our rigorous and consistent 4FactorTM bottom-up investment process. 
  • Provides an adaptable portfolio which is style, size and benchmark agnostic. 
  • 84% active share and 34% currently invested in small to medium-size companies (as at 30.09.17). 
  • Track record of high level outperformance. 
  • Portfolio Currency Hedged share classes available, which hedge all non-US dollar currency exposure into US dollars.
*Internal parameters subject to change without prior notice.

 

Our excellent track record in managing European equities


YTD 1 year  3 years p.a. 5 years p.a. Since inception p.a.
Investec GSF European Equity A Acc** 24.7% 23.6% 8.0% 13.6% 4.3%
MSCI Europe NRˆ 22.8% 22.3% 4.4% 8.6% 1.9%
Relative performance
1.9% 1.3% 3.7% 5.0% 2.4%


Past performance figures are not audited and should not be taken as a guide to the future. Data is not audited.
Source: Morningstar, dates to 30.09.17, NAV based, inclusive of all annual management fees but excluding any initial charges, gross income reinvested, in USD. *The investment objective of the Fund was amended in November 2012 to include the UK. Investec’s 4FactorTM Equity team started managing the Fund from 28.12.06, which is the date used for performance purposes as above, prior to this date the Fund was managed by a third party. **The A Acc share class launched 30.11.07, the performance shown prior to this is simulated performance based on oldest share class since fund launch adjusted to reflect the fees of the share class being simulated. ***The A Acc USD Hedged share class launched on 14 July 2014. ^Comparative index change from MSCI Europe ex UK NR to MSCI Europe NR on 30.11.12.

 

Why Europe? Why now?

  • Europe is home to many established world leading companies: – Investing in Europe means investing in companies and not countries.
  • Company balance sheets have strengthened, creating opportunities to add value. 
  • European share prices are at historic lows versus the US, leaving scope for improvement. 
  • European equities continue to have mid-range valuation multiples versus history. 
  • Regarding Brexit, while we believe the main issues are largely political, some sectors will experience headwinds. However, other sectors stand to benefit from more benign conditions e.g. weaker sterling. 
  • More significantly, we believe economic conditions in Europe have improved and there is considerable scope for corporate profit margins to grow with a continued economic recovery.

Why Investec Asset Management for European equities?

  • Experienced portfolio manager, Ken Hsia, has a demonstrable track record in investing in Europe and the UK. 
  • Managed within the 4FactorTM Equity team which runs US$55.0 billion of assets and has developed a strong track record in global and regional equity funds.* 
  • The team has an average of 15 years’ experience.

*The assets under management (‘AUM’) figure for the 4FactorTM team stated above is calculated on an investment basis i.e. the assets that are managed across the 4Factor range of strategies, which now includes the SA Equity & Multi-Asset strategies. Where investment strategies have underlying holdings in other Investec funds or investment strategies the same pool of assets may appear under more than one investment strategy.

Ken Hsia

Portfolio Manager,
European Equity



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Important information

*Internal parameters subject to change without prior notice, compares to 445 stocks for MSCI Europe.

Fund ratings may be provided by independent rating agencies based on a range of investment criteria, and do not constitute investment advice by Investec Asset Management. For a full description of the ratings please see www.investecassetmanagement.com/ratings.

All information is as at 30.09.17 unless otherwise stated.

The Fund’s investment objectives and performance targets will not necessarily be achieved and there is no guarantee that these investments will make profits; losses may be made.

Fund specific risks:

Geographic / Sector: Investments may be primarily concentrated in specific countries, geographical regions and/or industry sectors. This may mean the value of the Fund may decrease whilst more broadly invested funds might grow.

Currency exchange: Changes in the relative values of different currencies may adversely affect the value of the Fund’s investments and any related income.

Derivatives: The use of derivatives is not intended to increase the overall level of risk in the Fund. However, the use of derivatives may still lead to large changes in the value of the Fund and includes the potential for large financial loss.

Third party operational: The Fund’s operations depend on third parties. Investors in the Fund may suffer disruption or financial loss in the event of third-party operational failure.

Equity investment: The value of equities (e.g. shares) and equity-related investments may vary according to company profits and future prospects as well as more general market factors. In the event of a company default (e.g. bankruptcy), the owners of their equity rank last in terms of any financial payment from that company.

Indices:

MSCI data is sourced from MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

Some of the funds displayed on this page may not be registered in your region and will therefore not be available for sale . Please visit www.investecassetmanagement.com/registrations to check registration by country.