Fund to watch: Threadneedle European Select

It seeks to do this by investing at least two thirds of its assets in shares with good growth prospects in continental Europe or those with significant operations in the region.

The concentrated approach of its manager, David Dudding, means it will typically hold a smaller number of investments - between 45 and 65 - compared with other funds.

As well as providing exposure to a diverse range of countries and sectors, investments are not restricted by index, company size, stock or sector. This means it is free to pursue opportunities wherever they exist in the European market.

The 10 largest holdings account for 45.6% of total assets under management and include global names such as beauty product provider L'Oréal and automotive manufacturing company Continental, according to the most recent fund factsheet.

The portfolio also appears on the Wealth 150 list of favoured funds compiled by Mark Dampier, head of research at Hargreaves Lansdown, who has branded Dudding a "skilled and experienced manager" with an impressive long-term track record.

"His investment style is fairly conservative, with a preference for high-quality companies and a focus on the sustainability of a companys earnings and cash flows," says Dampier. "He is also supported by a well-resourced and experienced European team at Threadneedle."

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