Cazenove European Class B Accumulation Units 
Overview
| Initial charge | 5.00% |
|---|---|
| Initial saving | 5.00% |
| Annual charge | 1.50% |
| Annual saving | 0.250% ² |
| Performance charges | No |
| Total Expense Ratio | 1.59% |
| Launch date | 28-03-1989 |
| Launch price | £0.50 |
| Sector | Europe Excluding UK |
| Fund size | £761 million |
| Number of holdings | 80 |
| Fund type | OEIC |
| Type of units | Accumulation |
Please read the Simplified Prospectus in addition to the information above.
Ways to Invest
Find out how to invest in this fundHL Research - Our view on this Fund
Chris Rice is quite downbeat about the prospects for the European economies, believing there is a danger the recovery we have seen so far could lose momentum. He has therefore positioned the fund into areas of the market which he expects to perform well despite sluggish growth: defensive sectors with greater earnings resilience such as utilities, beverages and pharmaceuticals.
Full research
About the Fund Manager
Chris Rice
Located in: London UK
CHRIS RICE joined Cazenove in 2002. As Head of European (ex UK ) equities, he is responsible for all aspects of European (ex UK ) equity strategy, portfolio construction and performance. He is manager of the Cazenove European Fund (onshore), The Cazenove European Equity (ex UK ) Fund (offshore) and The Cazenove European Equity Absolute Return Fund. He is responsible for sector research in Banks & Specialty Finance (including Property), Oil & Gas, Media, General Retailers, Personal Care/Luxury Goods and Support Services. Chris joined from HSBC Asset Management ( Europe ) Ltd where he held a similar position, responsible for their retail and institutional Pan-European and European equity funds. Prior to HSBC, he was a Japanese and European fund manager at Scottish Amicable Investment Managers. Chris graduated from the University of Salford with First Class Honours in Finance and Accounting as well as a MPhil in Monetary Economics from the University of Glasgow and he is IIMR qualified. He is a Director of Cazenove Capital Management and has 16 years of investment experience.
Income details
| Historic yield | 1.70% |
|---|---|
| Income paid | Annually |
| Type of payment | Dividend |
All yields are variable and not guaranteed. The information is correct as at 31-08-2009.
Distribution dates
| Ex-dividend date | 31 December 2010 |
|---|---|
| Payment date ³ | 28 February 2010 |
Top 10 holdings
| Novartis AG | 4.83% |
|---|---|
| Sanofi-Aventis S.A. | 3.77% |
| Roche Holding AG Part. Cert. | 3.25% |
| Telefonica S.A. | 2.90% |
| Reed Elsevier N.V. Cert. | 2.68% |
| Allianz SE | 2.58% |
| Julius Baer Group | 2.47% |
| RED ELECTRICA CORP SA | 2.44% |
| Enagas S.A. | 2.43% |
| France Telecom | 2.42% |
Top 10 sectors
| Banks | 12.92% |
|---|---|
| Pharmaceuticals & Biotechnology | 12.80% |
| Fixed Line Telecommunications | 6.56% |
| Media | 6.23% |
| Nonlife Insurance | 5.78% |
| Food Producers | 5.45% |
| Gas, Water & Multiutilities | 5.25% |
| Cash and Equiv. | 4.45% |
| Oil & Gas Producers | 4.13% |
| Beverages | 3.34% |
Top 10 countries
| France | 21.91% |
|---|---|
| Switzerland | 18.38% |
| Germany | 14.06% |
| Spain | 13.33% |
| Netherlands | 12.48% |
| Italy | 4.67% |
| Cash and Equiv. | 4.45% |
| Belgium | 2.18% |
| Finland | 2.09% |
| Sweden | 1.59% |
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 16-03-2010. Data accurate as at 31/01/2010.
