Fact sheet: Montanaro European Smlr Co Tst

Fund information
Fund name
Montanaro European Smaller Companies Trust
Fund manager company
Montanaro Asset Management Ltd
Fund type
Investment Trust
Fund managers
  • George Cookesince 01/01/2012
Fund objective
Capital growth by investing in quoted European (excluding UK) smaller companies and to outperform its Benchmark, the MSCI Europe (ex-UK) SmallCap (Capital Return) Index. The Trust will invest primarily in quoted Continental European companies with a market capitalisation under €3 billion.
Benchmark
  • MSCI Europe ex UK Small Cap
Investment style
Active
Investment method
Shares
Quick stats
1 Year return
8.5%
1 Year rank in sector
2/4
Sector
IT European Smaller Companies
Yield
1.3%
Fund size
£98m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
125
Mid price
586
NAV
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
703.21
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
-16.67
Gearing
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
111
Top in this sector
Fund name1 Year
TR European Gth Tst PLC22.4%
Montanaro European Smlr Co Tst8.5%
JPMorganEurnSmallerCoTstPLC 5P2.9%
European Assets Trust-3.1%
...more in IT European Smaller Companies

Performance snapshot

Holdings snapshot

  • Sweden20%
    Italy18%
    Germany16%
    Switzerland15%
    France9%
  • Health Care24.8%
    Industrials21.8%
    Financials14.9%
    Consumer Discretionary11.9%
    Consumer Staples8.9%
  • Swedish Equities20%
    Italian Equities18%
    German Equities16%
    Swiss Equities15%
    French Equities9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-5.3%-6.1%4.2%8.5%22%82.4%
Sector-4%-4.6%1.1%6.5%28.5%124.8%
Rank within sector4 / 43 / 42 / 42 / 44 / 44 / 4
Quartile4th3rd2nd2nd4th4th
Calendar performance
 YTD - 20162015201420132012
Fund0.7%34.9%-12.3%22.1%25.1%
Sector0.7%31.4%-5.5%47%25.2%
Rank within sector2 / 42 / 44 / 44 / 43 / 4
Quartile2nd2nd4th4th3rd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-1.39
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1.01
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.17
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
17.25
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
8.62
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-0.2
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.75
Price movement
52 week high657
52 week low489
Current bid price585
Current offer price590
Current mid price586
Region
1Sweden20%
2Italy18%
3Germany16%
4Switzerland15%
5France9%
6Denmark6%
7Spain5%
8Netherlands4%
9Belgium3%
Industry sector
1Health Care24.76%
2Industrials21.78%
3Financials14.85%
4Consumer Discretionary11.88%
5Consumer Staples8.91%
6Information Technology7.92%
7Real Estate3.96%
8Energy2.97%
9Materials2.97%
Asset type
1Swedish Equities20%
2Italian Equities18%
3German Equities16%
4Swiss Equities15%
5French Equities9%
6Danish Equities6%
7Spanish Equities5%
8Dutch Equities4%
9Belgian Equities3%
Individual holdings
1VZ HOLDINGS4.1%
2SARTORIUS3.8%
3RATIONAL AG3.6%
4CTS EVENTIM AG & CO KGAA3.1%
5BREMBO SPA3%
6CHR HANSEN HLDGS A/S3%
7SIMCORP2.8%
8CERVED INFORMATION SOLUTIONS SPA2.7%
9RAYSEARCH LABORATORIES AB2.7%
Management
Fund manager group
Montanaro Asset Management
Fund manager company
Montanaro Asset Management Ltd
Fund type
Investment Trust
Fund objective
Capital growth by investing in quoted European (excluding UK) smaller companies and to outperform its Benchmark, the MSCI Europe (ex-UK) SmallCap (Capital Return) Index. The Trust will invest primarily in quoted Continental European companies with a market capitalisation under €3 billion.
Benchmark
  • MSCI Europe ex UK Small Cap
Investment style
Active
Investment method
Shares
Fund managers
NameSinceBiography
George Cooke01/01/2012George Cooke graduated from the University of Nottingham in 2005 with an undergraduate degree in Management Studies. He then spent another year of study there at the end of which he was awarded a Masters (with Distinction) in Corporate Strategy & Governance.Immediately following this, he joined the graduate scheme at Aon Benfield (formerly Aon Re). Having completed this scheme, George settled as an analyst within the ReSolutions department, where he specialised in assisting with the capital and runoff issues of insurance and reinsurance companies. During his time at the company, George received a Diploma in Insurance and passed all three levels of the CFA. After three and a half years with Aon Benfield, George joined Montanaro in July 2010.
Compliance
AIC Member
Domicile
No data available.
Fund for sale in
United Kingdom
Montanaro European Smaller Companies Trust
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price701.76
CurrencyGBX
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNJJL
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