Fact sheet: Waverton European Income

Fund information
Fund name
Waverton European Income R
Fund manager company
Waverton Investment Management
Fund type
Offshore Fund
Fund managers
  • Chris Garstensince 31/05/2012
  • Charles Glassesince 27/10/2005
Fund objective
The investment objective is to generate income and capital growth by investing in a concentrated portfolio of equities selected from European markets. Overwhelmingly, but not exclusively, the managers invest in companies that are at the larger end of the capitalisation scale.
Benchmark
  • MSCI Europe ex UK GR
Investment style
None
Investment method
Shares
Quick stats
1 Year return
36.3%
1 Year rank in sector
4/96
Sector
FO Equity - Europe ex UK
Yield
3.5%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.97%
Fund size
£19m (£11m last year)
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.
98
Top in this sector
Fund name1 Year
JB Mltstck Erlnd Vl Stck67.1%
JB Multiopp Eurld Val Focus38.7%
Guinness European Eq Inc36.7%
Waverton European Income36.3%
Oyster Cont Euro Select35%
...more in FO Equity - Europe ex UK

Performance snapshot

Holdings snapshot

  • Sweden19.5%
    France18.1%
    Portugal9.7%
    Switzerland9.5%
    Finland8.6%
  • Industrials24%
    Materials16.2%
    Consumer Staples14.9%
    Health Care14.4%
    Financials11.1%
  • Swedish Equities19.5%
    French Equities18.1%
    Portuguese Equities9.7%
    Swiss Equities9.5%
    Finnish Equities8.6%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund2.3%2.4%13.4%36.3%40.6%110.3%
Sector1.3%4.5%9%14.2%21.1%68.3%
Rank within sector15 / 10274 / 10116 / 1014 / 965 / 873 / 77
Quartile1st3rd1st1st1st1st
Calendar performance
 YTD - 20172016201520142013
Fund2.4%26.3%8.6%-0.3%34.7%
Sector1%4.1%12.7%3.5%23.2%
Rank within sector8 / 1023 / 9763 / 8871 / 886 / 81
Quartile1st1st3rd4th1st
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.
6.67
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.
0.63
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.
0.68
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%.
10.99
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.
9.12
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.
0.44
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.
0.51
Price movement
52 week high1.68
52 week low1.22
Current bid price-
Current offer price-
Current mid price1.67
Region
1Sweden19.5%
2France18.1%
3Portugal9.7%
4Switzerland9.5%
5Finland8.6%
6Norway8.3%
7Germany6.9%
8Italy5.7%
9Others5.7%
Industry sector
1Industrials24%
2Materials16.2%
3Consumer Staples14.9%
4Health Care14.4%
5Financials11.1%
6Energy7.9%
7Money Market4.3%
8Consumer Discretionary4.1%
9Utilities3.1%
Asset type
1Swedish Equities19.5%
2French Equities18.1%
3Portuguese Equities9.7%
4Swiss Equities9.5%
5Finnish Equities8.6%
6Norwegian Equities8.3%
7German Equities6.9%
8International Equities5.7%
9Italian Equities5.7%
Individual holdings
1LINDE AG3.8%
2NOVARTIS AG3.8%
3MARINE HARVEST ASA3.6%
4SECURITAS AB3.6%
5NOVO NORDISK A/S3.5%
6SVENSKA HANDELSBANKEN3.5%
7BOLIDEN AB3.3%
8GALP ENERGIA SGPS3.3%
9IMERYS SA3.3%
Management
Fund manager group
Waverton Investment Management
Fund manager company
Waverton Investment Management
Fund type
Offshore Fund
Fund objective
The investment objective is to generate income and capital growth by investing in a concentrated portfolio of equities selected from European markets. Overwhelmingly, but not exclusively, the managers invest in companies that are at the larger end of the capitalisation scale.
Benchmark
  • MSCI Europe ex UK GR
Investment style
None
Investment method
Shares
Fund managers
NameSinceBiography
Chris Garsten31/05/2012Chris Garsten, formerly a director of Credit Suisse. Managed the Netherlands Fund from inception in 1992. This became a £150 million fund (one of the larger Credit Suisse country funds), winning a number of performance awards. In addition a feature article in a 1999 issue of Forbes magazine highlighted that the C.S. Netherlands Fund had been one of the best offshore funds over one, three and five-year period.
Charles Glasse27/10/2005Charles Glasse, formerly head of M&G’s Continental Europe Team, managed the £400 million M&G European Dividend Fund for over 10 years. He managed the Fund from its launch in October 1989 until the Fund was repositioned as a blue-chip fund in June 2000. For five consecutive years it achieved the highest rating AAA by Standard & Poor’s Fund Research. It received an award in the First Guardian Investment Challenge in 1998.
Compliance
Distributor Status, IA Recognised, Reporting Fund Status, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom, Luxembourg, Offshore
Waverton European Income A
Initial charge3%
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.45%
Total expense ratio (TER)1.22%
Bid price-
Offer price-
Mid price1.764
CurrencyGBP
Price updated20/01/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeZ037
Waverton European Income B
Initial charge3%
Annual charge0.5%
Min single investment£3,000,000
Min regular saving£3,000,000
Available in ISANo
Ongoing charge (OCF)1.22%
Total expense ratio (TER)0.98%
Bid price-
Offer price-
Mid price1.804
CurrencyGBP
Price updated20/01/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeZ035
Waverton European Income I Hedged
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 price0.997
CurrencyGBP
Price updated02/06/2015
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeMEYW
Waverton European Income R
Initial charge3%
Annual charge1%
Min single investment£500,000
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.97%
Total expense ratio (TER)1.72%
Bid price-
Offer price-
Mid price1.673
CurrencyGBP
Price updated20/01/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeZ034
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