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TM CRUX European Opportunities Class F - Income (GBP)

Sell:119.20p Buy:119.20p Change: 0.60p (0.51%)
Prices as at 3 July 2020
Sell:119.20p
Buy:119.20p
Change: 0.60p (0.51%)
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 3 July 2020
Sell:119.20p
Buy:119.20p
Change: 0.60p (0.51%)
Prices as at 3 July 2020
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 does not feature on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. This is not a recommendation to sell; however, if you are thinking of adding to your investments, we believe the Wealth Shortlist is a good place to start. View funds on the Wealth Shortlist »

Chris Rice stepped down as this fund's manager and the fund was transferred from Sanditon to CRUX at the end of November 2019. At this point Sanditon Asset Management closed down its business. This is because Sanditon has struggled to grow assets in recent years, and the group felt it was in the best interests of investors to transfer the assets to another asset manager that's grown to a more sustainable size.

Richard Pease took over management of the fund and it was renamed as TM CRUX European Opportunities. He's a seasoned European equities investor and overall we view CRUX as a high-quality European investment house. Pease and his team at CRUX use a different investment approach to the one used by Rice, so investors should consider whether the fund continues to meet their objectives.

In light of these changes, we felt it was prudent to remove the fund from the Wealth 50. Pease also runs another fund on the Wealth 50, and we don't feel both funds are needed on the list. He remains one of our favourite fund managers in this sector.

Our view on the sector

Europe has been blighted by political issues in recent years. And some European economies are struggling with high levels of debt and unemployment. But it's important to disconnect a region's economic prospects from its stock market prospects. Europe is home to lots of successful businesses that make money across the globe - from the US to high-growth areas like Asia and emerging markets. That means their prospects aren't heavily reliant on Europe's economy. Some investors have overlooked the region in recent years. But we think Europe is a great place to invest for the long term and there are plenty of high quality fund managers to choose from.

Performance Analysis

Performance analysis for this fund is not available.

Investment Philosophy

Investment philosophy for this fund is not available.

Process and Portfolio Construction

Process and portfolio construction for this fund are not available.

question mark Manager Track Record Based on HL Quantitative Research

  • HSBC European Growth Inc
  • HSBC European Growth Acc
  • Schroder European Recovery Z Acc
  • FTSE World Europe ex UK TR GBP
  • TM CRUX European Opportunities F...
  • FTSE World Europe ex UK TR GBP
FROM: TO:


Fund Track Record

03/07/15 to 03/07/16 03/07/16 to 03/07/17 03/07/17 to 03/07/18 03/07/18 to 03/07/19 03/07/19 to 03/07/20
Annual return 3.43% 24.46% -1.42% 7.57% -5.90%

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

Sanditon Asset Management was founded in 2013 and specialises in UK and European equities. Sanditon utilises an investment approach which has been developed over more than two decades. At the heart of this approach is a belief that excess returns can be delivered through an appreciation and analysis of the effect that the business cycle has on companies' earnings power and value.

Information about the fund

Fund manager biography

Manager Name: James Milne
Manager start date: 1 December 2019
Manager located in: UK

James graduated from Magdalen College, Oxford with a double first class degree in Engineering Science. James began his career in 2002 at KPMG in London where he qualified as a chartered accountant before moving into corporate finance. In July 2006 James joined New Star Asset Management and in April 2009 he transferred to Henderson Global Investors when it bought NEW Star. James has assisted Richard Pease with Henderson European Special Situations fund since it was launched in October 2009 and he moved to CRUX at the same time as Richard and the European Special Situations fund in June 2015. He has also co-managed the CRUX European fund since launch in November 2015.

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