F & C European Growth & Income Fund Class 1 Accumulation Units
At a glance
| Initial charge | 5.00% |
|---|---|
| Initial saving | 4.75% |
| Annual charge | 1.50% |
| Annual saving | 0.250% ² |
| Total Expense Ratio | 1.75% |
| Launch date | 09-11-1988 |
| Launch price | £0.50 |
| Sector | Europe Excluding UK |
| Fund size | £181 million |
| Number of holdings | 49 |
| Fund type | OEIC |
| Type of units | Accumulation |
Ways to Invest
Find out how to invest in this fundHL Research - Our view on this Fund
F&C has announced it has obtained shareholder approval to make some changes to the F&C European Fund’s objective. Previously the objective was to produce capital growth over the medium to long term. Now the objective will include generating a high level of income as well as capital growth. From October 1 the name will change to the F&C European Growth & Income Fund to better describe the new objective. A new income share class will be created and existing investors will be offered a free switch into the income share class if they wish.
The fund will also adopt new fund legislation that enables the managers to make use of more risky sophisticated investment strategies to try and enhance returns.
Finally the investment policy will be amended to include reference to the fact that the fund can invest in non-European equities, including the UK and US, subject to restrictions imposed on funds within the IMA Europe excluding UK sector.
The revamped fund will be managed by Paras Anand who joined F&C from Deutsche last year as Head of European Equities.
Full research
About the Fund Manager
Davina Curling
Located in: London
Davina Curling, Director, Head of Continental Europe High Alpha Davina has over seventeen years of investment experience. She joined F&C in 1995 and is the lead fund manager on the European and European Prime OEIC Funds and the Foreign & Colonial Eurotrust. Davina began her career at Kleinwort Benson Investment Managers, in 1987 as an equity analyst and fund manager, specialising in European and global equity and equity income funds. In 1989 she moved to Nikko Capital Management to head up the European equity department. She was also a member of the asset allocation committee and on the new product development team Davina graduated from Bristol University with a BSc (Hons) in Economic and Social History. She became a registered representative of the Stock Exchange and attended the London Business School's highly regarded Investment Management Programme
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Income details
| Running yield | 0.34% (net) |
|---|---|
| Income paid | Annually |
| Type of payment | Dividend |
All yields are variable and not guaranteed. The information is correct as at 30-09-2006.
Distribution dates
| Ex-dividend date | 30 April 2008 |
|---|---|
| Payment date ³ | 30 June 2008 |
Top 10 holdings
| Svenska Handelsbanken Series A, | 5.05% |
|---|---|
| AXA S.A. | 4.48% |
| Roche Holding AG Part. Cert. | 4.20% |
| Banco Bilbao Vizcaya Argentaria S.A. | 4.09% |
| Unilever N.V. CVA | 3.84% |
| Reed Elsevier N.V. Cert. | 3.72% |
| ENI S.p.A. | 3.52% |
| SAP AG | 3.49% |
| Novartis AG | 3.45% |
| ING Groep N.V. | 3.43% |
Top 10 sectors
| Banks | 16.28% |
|---|---|
| Food Producers | 11.26% |
| Media | 11.04% |
| Nonlife Insurance | 10.25% |
| Pharmaceuticals & Biotechnology | 9.54% |
| Fixed Line Telecommunications | 6.27% |
| Oil & Gas Producers | 5.80% |
| Industrial Transportation | 5.02% |
| Software & Computer Services | 4.07% |
| Support Services | 3.69% |
Top 10 countries
| Netherlands | 21.13% |
|---|---|
| Switzerland | 11.72% |
| Sweden | 11.27% |
| United Kingdom | 10.97% |
| Germany | 10.23% |
| Italy | 7.17% |
| Ireland | 6.97% |
| France | 6.76% |
| Spain | 4.72% |
| Finland | 2.69% |
² Annual saving is not available in the SIPP.
³ If you elect to receive the income from a Vantage ISA, Fund or Share Account, we will collect any dividends for you and then pay them directly into your bank account within the first 10 working days of the following month.
Last valuation as at 21-11-2008. Data accurate as at 30/09/2008.
