Fact sheet: Man GLG Continental European Growth

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
EUROPEAN EQUITIES
Sector
UT Europe Excluding UK
Fund type
OEIC
Primary aim
GROWTH
Why Money Observer Rates Man GLG Continental European Growth

Rated Fund 2016-2018. Seeks companies with strong market positions

This fund has been managed by Rory Powe since 2014. Powe has a near 30-year history of running European equity funds, having learned valuable lessons after coming unstuck in early 2000 when the technology bubble burst. His current fund is already showing the benefit. Nowadays, the companies in which he invests have to pass a number of stringent criteria before they are included in his portfolio, which consists of between 30 and 40 holdings from a list of more than 2,000 possibilities. However, they can be of any size and from any country or industry in continental Europe.In order to pass Powe's selection process, companies must display several characteristics that are sustainable over the long term. Companies must enjoy a leadership position in their marketplace to ensure that they have pricing power. They have to demonstrate an ability to grow and achieve rising profits and strong free cash flows as well as exhibiting financial strength generally. And their share price must also show growth potential.Powe divides the companies in his portfolio into two types. The first he describes as the fund's bedrock. These are companies that enjoy an established leadership position that gives them excellent prospects. This section always represents at least 50 per cent of the fund. The second type, which can account for up to a third of the portfolio, are companies that are emerging winners already enjoying clear competitive advantages. He expects more growth from these stocks, but they also involve greater risk.<\p>

3 Year Performance
Fund Performance70.5%
Average of Rated Funds Group51.8%
Sector Performance35.9%
Fund information
Fund name
Man GLG Continental European Growth C Professional
Fund manager company
GLG Partners
Fund type
OEIC
Fund managers
  • Rory Powesince 01/10/2014
Accolades
Winner - Europe
Fund objective
Man GLG Continental European Growth Fund aims to achieve above average long term capital growth through primarily investing, directly or indirectly, in the quoted equity or equity linked securities of companies listed on European Stock Exchanges.
Benchmark
  • FTSE Europe ex UK
Investment style
Growth
Investment method
Shares
Quick stats
1 Year return
14.9%
1 Year rank in sector
4/100
Sector
UT Europe Excluding UK
Yield
0.5%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.9%
Fund size
£1,488m (£626m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
96
Mid price
587.8
Top in this sector
Fund name1 Year
FP Argnt Eurpn Inc Opps20.1%
Jupiter European20%
LF Miton Eu Opp18.1%
Man GLG Con Er Gth14.9%
7IM European (ex UK) Equ Val14.1%
...more in UT Europe Excluding UK

Performance snapshot

Holdings snapshot

  • Germany13.9%
    Denmark13.4%
    Italy12.6%
    Ireland12.1%
    Switzerland8.5%
  • Consumer Discretionary31.1%
    Industrials22.8%
    Information Technology18%
    Health Care12.6%
    Materials5.6%
  • Irish Equities16.6%
    Italian Equities15.6%
    French Equities11.9%
    Swedish Equities11.8%
    Danish Equities10.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund4.3%6%7.1%14.9%70.5%133.6%
Sector3.7%3.2%2%7.4%35.9%63%
Rank within sector30 / 1057 / 1045 / 1024 / 1002 / 901 / 83
Quartile2nd1st1st1st1st1st
Calendar performance
 YTD - 20182017201620152014
Fund8%18.7%16.5%31.7%7.1%
Sector1.8%17.2%16.4%9.1%-0.7%
Rank within sector4 / 10433 / 9752 / 931 / 872 / 84
Quartile1st2nd3rd1st1st
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
10.7
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.73
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
1.61
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
9.56
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
6.41
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
1.2
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.63
Price movement
52 week high588.2
52 week low516.4
Current bid price-
Current offer price-
Current mid price587.8
Region
1Germany13.94%
2Denmark13.39%
3Italy12.57%
4Ireland12.14%
5Switzerland8.54%
6Sweden8.43%
7France7.65%
8Spain5.73%
9Netherlands5.14%
Industry sector
1Consumer Discretionary31.07%
2Industrials22.77%
3Information Technology18%
4Health Care12.57%
5Materials5.64%
6Financials4.58%
7Money Market2.79%
8Consumer Staples2.58%
Asset type
1Irish Equities16.56%
2Italian Equities15.58%
3French Equities11.86%
4Swedish Equities11.76%
5Danish Equities10.69%
6German Equities9.2%
7Swiss Equities7.6%
8Spanish Equities5.45%
9Dutch Equities4.34%
Individual holdings
1RYANAIR HLDGS6.62%
2MONCLER SPA6.21%
3CHR HANSEN HLDGS A/S5.64%
4SAP SE5.56%
5ASML Holding NV5.14%
6PANDORA AS5.13%
7CARNIVAL CORP4.68%
8FERRARI NV4.68%
9PARTNERS GROUP HOLDING4.58%
Management
Fund manager group
GLG Partners
Fund manager company
GLG Partners
Fund type
OEIC
Fund objective
Man GLG Continental European Growth Fund aims to achieve above average long term capital growth through primarily investing, directly or indirectly, in the quoted equity or equity linked securities of companies listed on European Stock Exchanges.
Benchmark
  • FTSE Europe ex UK
Investment style
Growth
Investment method
Shares
Fund managers
NameSinceBiography
Rory Powe01/10/2014Rory is a long-only Portfolio Manager focusing on European growth stocks, and joined Man GLG (‘GLG’) in July 2014. Prior to this, he founded Powe Capital Management in 2001 and for 12 years managed its European funds. Before founding PCM Rory was a global partner at INVESCO, and ran their flagship continental European strategy for 10 years. He graduated from Trinity College, Oxford University, in 1985 with a BA (Hons) in Modern History. Rory has 27 years of European equity experience.
Compliance
IA Recognised, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Man GLG Continental European Growth A Ret
Initial charge5%
Annual charge1.5%
Min single investment£500,000
Min regular saving£250
Available in ISAYes
Ongoing charge (OCF)1.65%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price526.2
CurrencyGBX
Price updated21/05/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeSF92
Man GLG Continental European Growth C Professional
Initial charge-
Annual charge0.75%
Min single investment£500,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.9%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price587.8
CurrencyGBX
Price updated21/05/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeZJ54
Man GLG Continental European Growth E Inst
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price665.4
CurrencyGBX
Price updated21/05/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeZJ53
Man GLG Continental European Growth Hedged Professional
Initial charge-
Annual charge0.75%
Min single investment£500,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.9%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price142.7
CurrencyGBX
Price updated21/05/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeMTRC
Data provided by

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