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For professional investors in Latam - other countries

Pan European Fund

An actively managed fund aiming to capture performance by anticipating the catalysts for change across Pan-European (inc UK) companies and industries

ISIN
LU0113993041

NAV
EUR 18.34
As of 19/12/2024

1-Day Change
EUR -0.32 (-1.69%)
 As of 19/12/2024

Morningstar Rating

As of 30/11/2024

Overview

Quarterly Update

Watch the investment team recap this quarter.

(Note: Filmed in October 2024).

INVESTMENT OBJECTIVE

The Fund aims to provide a return, from a combination of capital growth and income over the long term (5 years or more).

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The Fund invests at least two-thirds of its assets in shares (equities) and equity-related securities of companies, of any size, in any industry, in Europe (including UK). Companies will have their registered office in or do most of their business (directly or through subsidiaries) in this region.
The Fund may also invest in other assets including cash and money market instruments.
The Investment Manager may use derivatives (complex financial instruments) to reduce risk or to manage the Fund more efficiently.
The Fund is actively managed with reference to the MSCI Europe Index, which is broadly representative of the companies in which it may invest, as this can provide a useful comparator for assessing the Fund's performance. The Investment Manager has discretion to choose investments for the Fund with weightings different to the index or not in the index. Depending on prevailing market conditions the Fund’s portfolio may shift between ‘high conviction’ (whereby the manager will take significant risk relative to the index) and a more cautious stance. This means the performance of the Fund may at times differ significantly from the index, while at other times it may be more closely aligned.

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The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.
Potential investors must read the prospectus, and where relevant, the key investor information document before investing.
This website is a Marketing Communication and does not qualify as an investment recommendation.

ABOUT THIS FUND

  • Portfolio construction blends sector themes with compelling stock-specific stories to provide access to sustainable long-term growth trends
  • The managers look to capture opportunities across all types of market conditions using fundamental research and thought leadership
  • Active portfolio balances core large-cap companies with a selection of mid-cap opportunities to seek additional returns
Past performance does not predict future returns. 
 

Portfolio Management

Tom O'Hara
Tom O'Hara

Portfolio Manager

Industry since 2006. Joined Firm in 2018.

Tom Lemaigre, CFA
Tom Lemaigre, CFA

Portfolio Manager

Industry since 2014.

Performance

Past performance does not predict future returns. All performance data includes both income and capital gains or losses and reflects the deduction of any ongoing charges or other fund expenses.
Cumulative & Annualised Performance (%)
As of 30/11/2024
I2 EUR (Net) MSCI Europe NR Europe Large-Cap Blend Equity - OE
 
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
07/01/2010
I2 EUR (Net) 1.65 6.15 10.00 7.16 8.88 7.49 9.15
MSCI Europe NR 1.06 9.13 13.17 6.47 7.15 6.58 7.62
Europe Large-Cap Blend Equity - OE 0.72 7.29 11.28 3.67 5.71 5.46 6.43
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Performance/performance target related data will display only when relevant to the fund/share class inception date and the annualised target time period.
© Morningstar 2024. All rights reserved. NAV-NAV, gross income reinvested where applicable.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
Calendar Year Returns (%)
As of 30/09/2024
I2 EUR (Net) MSCI Europe NR Europe Large-Cap Blend Equity - OE
YTD 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
I2 EUR (Net) 7.65 21.26 -8.83 23.67 2.72 29.76 -11.69 7.74 -0.01 13.21 10.63
MSCI Europe NR 11.62 15.83 -9.49 25.13 -3.32 26.05 -10.57 10.24 2.58 8.74 7.40
Europe Large-Cap Blend Equity - OE 10.26 14.06 -13.14 22.99 -0.91 24.51 -12.72 10.06 -0.24 11.12 5.56
Calendar Year Returns (%)
Year I2 EUR (Net) Index
2023 21.26 15.83
2022 -8.83 -9.49
2021 23.67 25.13
2020 2.72 -3.32
2019 29.76 26.05
2018 -11.69 -10.57
2017 7.74 10.24
2016 -0.01 2.58
2015 13.21 8.74
2014 10.63 7.40
2013 27.32 20.51
2012 18.66 18.09
2011 -4.33 -7.51
2010 from 07/01/2010 10.56 10.06
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Performance/performance target related data will display only when relevant to the fund/share class inception date and the annualised target time period.
© Morningstar 2024. All rights reserved. NAV-NAV, gross income reinvested where applicable.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.

Recommended holding period 5 Years

Example Investment: EUR 10,000

Scenarios If you exit after 1 year If you exit after 5 years
MinimumThere is no minimum guaranteed return. You could lose some or all of your investment
StressWhat you might get back after costs2,240 EUR2,080 EUR
Average return each year-77.61%-26.94%
UnfavourableWhat you might get back after costs8,650 EUR9,120 EUR
Average return each year-13.48%-1.83%
ModerateWhat you might get back after costs10,690 EUR13,460 EUR
Average return each year6.86%6.13%
FavourableWhat you might get back after costs14,620 EUR17,180 EUR
Average return each year46.24%11.43%
This chart shows the fund’s performance as the percentage loss or gain per year over the last 10 years against its benchmark. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

As of 30/09/2024
I2 EUR (Net) MSCI Europe NR Europe Large-Cap Blend Equity - OE
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Past performance does not predict future returns. The value of an investment may go down as well as up and you may lose the amount originally invested. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past.
© Morningstar 2024. All rights reserved. NAV-NAV, gross income reinvested where applicable.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
Fee Information
Initial Charge 0.00%
Annual Charge 1.00%
Ongoing Charge
(As of 30/09/2022) 		1.08%
The ongoing charge is calculated using the PRIIPs methodology. The PRIIPs methodology differs to the UCITS ongoing charge methodology, as the PRIIPS methodology captures additional recurring charges, including but not limited to: a. Interest paid on borrowing (e.g. bank interest) b. Any fees incurred in relation to stock-lending activity (i.e. the fee paid to the lending agent) c. Any costs associated with holding closed-ended vehicles.
For more information about charges, please see our fund charges page or the “charges” section of the fund’s prospectus.

Portfolio

Top Holdings (As of 30/11/2024)
% of Fund
Novo Nordisk 5.41
ASML 4.19
SAP 3.56
Schneider Electric 3.16
CRH 3.15
Shell 2.87
AstraZeneca 2.71
Siemens 2.70
Cie de Saint-Gobain 2.66
Linde 2.66
References made to individual securities do not constitute a recommendation to buy, sell or hold any security, investment strategy or market sector, and should not be assumed to be profitable. Janus Henderson Investors, its affiliated advisor, or its employees, may have a position in the securities mentioned.

Documents

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  • The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • Past performance does not predict future returns.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • Shares/Units can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
  • Shares of small and mid-size companies can be more volatile than shares of larger companies, and at times it may be difficult to value or to sell shares at desired times and prices, increasing the risk of losses.
  • If a Fund has a high exposure to a particular country or geographical region it carries a higher level of risk than a Fund which is more broadly diversified.
  • The Fund may use derivatives with the aim of reducing risk or managing the portfolio more efficiently. However this introduces other risks, in particular, that a derivative counterparty may not meet its contractual obligations.
  • If the Fund holds assets in currencies other than the base currency of the Fund, or you invest in a share/unit class of a different currency to the Fund (unless hedged, i.e. mitigated by taking an offsetting position in a related security), the value of your investment may be impacted by changes in exchange rates.
  • When the Fund, or a share/unit class, seeks to mitigate exchange rate movements of a currency relative to the base currency (hedge), the hedging strategy itself may positively or negatively impact the value of the Fund due to differences in short-term interest rates between the currencies.
  • Securities within the Fund could become hard to value or to sell at a desired time and price, especially in extreme market conditions when asset prices may be falling, increasing the risk of investment losses.
  • The Fund could lose money if a counterparty with which the Fund trades becomes unwilling or unable to meet its obligations, or as a result of failure or delay in operational processes or the failure of a third party provider.
  • Funds incur costs as a necessary part of buying and selling the underlying investments, these are otherwise known as portfolio transaction costs, and include charges such as broker commission and Stamp Duty.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved.
  • Summary of Investor rights
  • Janus Henderson Investors Europe S.A. may decide to terminate the marketing arrangements of this Collective Investment Scheme in accordance with the appropriate regulation.
  • Information on compliance with EU Sustainability related disclosures can be found here.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report. Please refer to the prospectus of the UCITS and to the KID before making any final investment decisions.
  • The Legal Entity Identifier for this product is 2138008UWU8P9PNCEV25.

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