Fact sheet: TR 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
IT European Smaller Companies
Fund type
Investment Trust
Primary aim
GROWTH
Why Money Observer Rates TR European Growth

This trust has been managed since mid-2011 by Ollie Beckett. It invests in smaller companies of under £3 billion throughout western Europe. Most of Beckett's holdings are below £1 billion because that is where he finds most value.

He particularly favours companies capitalised at between £400 million and £800 million, as research coverage is so much sparser than it is further up the size spectrum, so there is more scope for finding mispriced stock. In order to maintain liquidity and flexibility he has quite a long list of holdings, typically over 100, in the portfolio.

The trust pays a dividend and part of its objective is to make progressive and steady increases in its annual dividend payments, but Beckett says that dividends are not his primary concern when selecting his investments.

In order to find suitable stock he spends a lot of time meeting companies - not just when their executives come to London, but on their home territory too.

3 Year Performance
Fund Performance130.2%
Average of Rated Funds Group64.5%
Sector Performance88.9%
Fund information
Fund name
TR European Growth Trust PLC
Fund manager company
Henderson Global Investors Ltd
Fund type
Investment Trust
Fund managers
  • Ollie Beckettsince 30/06/2011
Accolades
Fund objective
To achieve capital growth, aiming for a net asset value total return greater than our benchmark index.
Benchmark
  • Euromoney Smaller European Companies Index
Investment style
Growth
Investment method
No data available.
Quick stats
1 Year return
40.9%
1 Year rank in sector
1/4
Sector
IT European Smaller Companies
Yield
0.9%
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.
0.75%
Fund size
£0m
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.
137
Mid price
1216
NAV
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
1212.6
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
+0.28
Gearing
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
110
Top in this sector
Fund name1 Year
TR European Gth Tst PLC40.9%
JPMorganEurnSmallerCoTstPLC 5P38%
Montanaro European Smlr Co Tst29.9%
European Assets Trust24.6%
...more in IT European Smaller Companies

Performance snapshot

Holdings snapshot

  • Germany18%
    France12.3%
    Finland11.6%
    Netherlands10.8%
    Italy9.8%
  • No data available.
  • German Equities18%
    French Equities12.3%
    Finnish Equities11.6%
    Dutch Equities10.8%
    Italian Equities9.8%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.3%4.7%10.8%40.9%130.2%227.3%
Sector-1.8%4.7%6.7%33.3%88.9%141.2%
Rank within sector1 / 42 / 41 / 41 / 41 / 41 / 4
Quartile1st2nd1st1st1st1st
Calendar performance
 YTD - 20182017201620152014
Fund0.7%57.7%19.6%29.8%-3.4%
Sector1.4%43%5.9%31.4%-5.5%
Rank within sector3 / 41 / 41 / 43 / 42 / 4
Quartile3rd1st1st3rd2nd
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.
4.69
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.
1.13
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.
1.72
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%.
17.79
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.
6.33
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.
1.15
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.
0.88
Price movement
52 week high1270
52 week low861
Current bid price1210
Current offer price1216
Current mid price1216
Region
1Germany18%
2France12.3%
3Finland11.6%
4Netherlands10.8%
5Italy9.8%
6Switzerland9.2%
7Others8.8%
8Sweden7.8%
9Belgium4.4%
Industry sector
No data available.
Asset type
1German Equities18%
2French Equities12.3%
3Finnish Equities11.6%
4Dutch Equities10.8%
5Italian Equities9.8%
6Swiss Equities9.2%
7International Equities8.8%
8Swedish Equities7.8%
9Belgian Equities4.4%
Individual holdings
1VAN LANSCHOT KEMPEN2.3%
2BRAINLAB1.9%
3FINECOBANK SPA1.4%
4GAZTRANSPORT & TECHNIGAZ1.3%
5KAUFMAN & BROAD1.3%
6MEYER BURGER TECHNOLOGY AG1.3%
7WALLENIUS WILHELMSEN LOGISTICS ASA1.3%
8OC OERLIKON CORP AG1.2%
9SOITEC1.2%
Management
Fund manager group
Janus Henderson Investors
Fund manager company
Henderson Global Investors Ltd
Fund type
Investment Trust
Fund objective
To achieve capital growth, aiming for a net asset value total return greater than our benchmark index.
Benchmark
  • Euromoney Smaller European Companies Index
Investment style
Growth
Investment method
No data available.
Fund managers
NameSinceBiography
Ollie Beckett30/06/2011Ollie Beckett is a Portfolio Manager of European equities at Janus Henderson, responsible for the European Small Cap and International Small Cap Equity strategies. Ollie first joined Henderson as an assistant portfolio manager for European equities upon the merger with AMP Asset Management in 1998 and was subsequently named fund manager in 1999. In 2000 he joined the Global Technology Equities team. Ollie left Henderson in 2003 to pursue other interests, before returning to Henderson in his current role in 2005. Ollie holds a BA (Hons) degree in economics and government from the University of Manchester, is a member of the Institute of Investment Managers and Research, and has 22 years of financial industry experience.
Compliance
AIC Member
Domicile
No data available.
Fund for sale in
United Kingdom
TR European Growth Trust PLC
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 price1212.2
CurrencyGBX
Price updated16/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNJED
TR European Growth Trust PLC NAV
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 price1212.2
CurrencyGBX
Price updated16/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeTU64
Data provided by

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