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Barings Europe Select Inclusive - Class A - Income (GBP)

Sell:5,440.00p Buy:5,440.00p Change: 36.00p (0.66%)
Prices as at 16 September 2021
Sell:5,440.00p
Buy:5,440.00p
Change: 36.00p (0.66%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 16 September 2021
Sell:5,440.00p
Buy:5,440.00p
Change: 36.00p (0.66%)
Prices as at 16 September 2021
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund is on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. However, this is not a recommendation to buy.

This fund is different to a lot of others investing in Europe. It invests in small and medium-sized companies, while most others focus on larger firms. We think this boosts the fund's growth potential, though it increases risk.

Nick Williams runs the fund. He's strict in the way he runs the fund and this has worked well over the long run, although this shouldn't be seen as a guide to the future. He has a good team of investors and analysts to help him. We think this gives them a better chance of finding the best investments in this wide area of the market.

We're positive about the fund's long-term prospects. It could help diversify the European part of an investment portfolio, or one focused on larger companies.

Our view on the sector

Most investors look to the UK to invest in smaller companies. But this means you could miss out on an array of opportunities available overseas. In today's globalised world, a company's location can be irrelevant and there are lots of successful businesses operating across the globe. Europe's economic and political issues have been well-documented in recent years and many investors have overlooked the region. That means lots of smaller companies have been ignored and their share prices don't properly reflect their future growth prospects. Long-term investors willing to ride out volatility could be rewarded. But you should remember smaller companies are riskier than bigger ones.

Performance Analysis

Nick Williams has invested in European shares since 1994. His first fund invested in companies of all sizes, including larger firms, which provided him with plenty of knowledge of European markets. He now focuses specifically on small and medium-sized companies.

Our analysis shows he's performed exceptionally well over the long run, no matter what size of company he invests in. Investing in smaller companies can increase volatility, but the Europe Select fund has tended to hold up better than the broader market of European smaller companies when it's fallen. It hasn't kept up quite as quickly when the market rises though.

Investment Philosophy

The manager uses a GARP (Growth at a Reasonable Price) investment philosophy. This means he looks for companies that grow their earnings consistently, whose shares can be bought at a price that doesn't reflect this earnings potential. Once this potential is recognised by more investors, the share price could rise.

Process and Portfolio Construction

Nick Williams looks for companies in good financial shape, low levels of debt, and the ability to make a good profit. He aims to spot these opportunities before most other investors so that he can invest at an attractive price. Meeting companies is an important part of the process, and he has the help of his team to do this.

In particular he wants companies whose share prices he thinks can grow by at least 40%. He's had more successes than failures over the long term, but he won't get it right every time. Once a share hits his price target, he'll take a profit or sell it in order to move on to the next opportunity.

question mark Manager Track Record Based on HL Quantitative Research

  • Singer & Friedlander European...
  • Barings Europe Select Trust A...
  • IA Europe (Excluding UK)
  • IA European Smaller Companies
FROM: TO:


Fund Track Record

15/09/16 to 15/09/17 15/09/17 to 15/09/18 15/09/18 to 15/09/19 15/09/19 to 15/09/20 15/09/20 to 15/09/21
Annual return 24.55% 5.62% 1.57% 5.28% 23.10%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Baring Asset Management is an international investment management company with a history dating back to 1762. The group is owned by Massachusetts Mutual Life Insurance Company.

For Barings' actively-managed equity funds, all managers follow a "Growth at a Reasonable Price" (GARP) investment philosophy, focusing on those markets, sectors and stocks with the greatest potential for earnings growth.

Information about the fund

Fund manager biography

manager photo
Manager Name: Rosie Simmonds
Manager start date: 1 October 2016
Manager located in: London

Rosie is an Investment Manager in the Small Cap Equity Team, co-manager of the Barings Europe Select Trust, the Barings European Opportunities Fund and the Barings International Small Cap strategy. Rosie joined Baring in September 2010 from Baillie Gifford where she worked for three years as an Investment Analyst. Rosie graduated from Oxford University with a degree in Modern History. She was awarded the IMC certificate in 2009 and is a CFA Charterholder.

Manager Name: William Cuss
Manager start date: 1 January 2020
Manager located in: TBC

William Cuss is an Investment Manager on Barings' Small Cap Equity team and co-manager of the Barings Europe Select Trust, the Barings European Opportunities Fund and the Barings International Small Cap strategy. He has worked in the industry since 2014. William joined the firm in 2016 from Investec, where he was an Equity Analyst, focusing on the European consumer staples sector. Previously, William worked as an auditor for Ernst & Young, where he qualified as a Chartered Accountant. William holds a BA (Hons) in History and Politics from the University of Warwick and is a member of the CFA Institute.

manager photo
Manager Name: Nicholas Williams
Manager start date: 1 January 2005
Manager located in: London

Nick is Head of the Small Cap Equities Team and co-manager of the Barings Europe Select Trust, the Barings European Opportunities Fund and the Barings International Small Cap strategy. He joined Barings in 2004, having previously worked for 11 years at Singer & Friedlander, where he was Head of the European desk and a member of the Investment Policy Committee. During his tenure at Singer & Friedlander, Nick was responsible for managing both institutional and retail European funds across the capitalisation range. Nick graduated from Oxford University with a degree in English Language and Literature.

manager photo
Manager Name: Colin Riddles
Manager start date: 1 October 2016
Manager located in: London

Colin is an Investment Manager in the Small Cap Equity Team and co-manager of the Barings Europe Select Trust, the Barings European Opportunities Fund and the Barings International Small Cap strategy. He joined Barings in March 2010 from GLG, where he was responsible for their UK Small Company Fund. Previously, he worked at HSBC Halbis, Scottish Widows and General Accident. Colin has a BA (Hons) in Financial Studies & Computer Science, an MSc in Investment Analysis from Stirling University and an MBA from Edinburgh Business School. He is a member of the CFA UK.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account