Barings Fund Managers Limited Europe Select Class I Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 30/04/19 to 30/04/20 |
30/04/20 to 30/04/21 |
30/04/21 to 30/04/22 |
30/04/22 to 30/04/23 |
30/04/23 to 30/04/24 |
|
|---|---|---|---|---|---|
| Fund | -6.4% | 39.1% | -11.3% | 2.3% | 4.9% |
| Sector | -10.0% | 51.8% | -8.6% | -0.4% | 3.9% |
| Rank | 6/27 | 27/28 | 24/28 | 6/28 | 17/28 |
| Quartile | 1 | 4 | 4 | 1 | 3 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/04/24 |
5 Years to 30/04/24 |
10 Years to 30/04/24 |
||
| Fund | -1.6% | 4.4% | 8.3% | |
| Sector | -1.8% | 5.3% | 7.2% | |
| Rank | 13/28 | 19/27 | 7/20 | |
| Quartile | 2 | 3 | 2 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| BANCA GENERALI | 1.83 |
| ACCELLERON INDUSTRIES AG | 1.81 |
| ELIS | 1.80 |
| ARCADIS N.V. | 1.72 |
| CARGOTEC CORP | 1.67 |
| PANDORA A/S | 1.66 |
| TECAN GROUP AG | 1.65 |
| BAWAG GROUP AG | 1.62 |
| ASR NEDERLAND N.V. | 1.60 |
| BANCO DE SABADELL SA | 1.58 |
| Total | 16.95 |
Fund Aims
The Trust aims to provide a total return, including both capital growth and dividend income (after fees have been deducted), in excess of the MSCI Europe ex UK Small Cap (Total Net Return) Index over a rolling five year period by investing in equity and equity related securities in Europe excluding the United Kingdom.
Fund Manager
Rosie Simmonds is an Investment Manager in the Small and Mid-Cap Equity Team and co-manager of the Barings Europe Select Trust and the Barings International Small Cap Strategy. Rosie has worked in the industry since 2007. Prior to joining the firm in 2010, she worked at Baillie Gifford as an Investment Analyst. Rosie holds a degree in Modern History from Oxford University. She was awarded the IMC certificate in 2009 and is a CFA Charterholder.
William Cuss is an Investment Manager in the Small and Mid-Cap Equity Team and co-manager of the Barings Europe Select Strategy and the Barings International Small Cap Strategy. William has worked in the industry since 2014. Prior to joining the firm in 2016, he worked at Investec as an Equity Analyst focusing on the European consumer staples sector. Before that, 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 CFA Charterholder.
Nick Williams co-leads the Developed Market Equities Team, is responsible for leading Barings’ Small and Mid-Cap Equity Strategies and is co-manager of the Barings Europe Select Strategy and the Barings International Small Cap Strategy. Nick has worked in the industry since 1990. Prior to joining the firm in 2004, he worked for Singer & Friedlander, managing European All-Cap and Small Cap funds. He holds a degree in English Language and Literature from Oxford University.
Colin Riddles is an Investment Manager in the Small and Mid-Cap Equity Team and co-manager of the Barings Europe Select Strategy and the Barings International Small Cap strategy. Colin has worked in the industry since 1994. Prior to joining the firm in 2010, he worked at GLG where he was responsible for their UK Small Company Fund. Before that, 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.
Fund Overview
| Mid (03/05/2024) | 4730.00p |
| Historic yield | 0.62% |
| Fund size (30/11/2023) | £48.68m |
| Number of holdings | 99 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.81% |
| Launch date | 29/08/2012 |
Asset Allocation
| International Equities | 96.32% | |
| Cash and Equivalents | 3.78% | |
| Alternative Trading Strategies | -0.10% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 96.32% | |
| Cash and Equivalents | 3.78% | |
| Alternative Trading Strategies | -0.10% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Industrials | 33.01% | - | - | - | |
| Industrial Goods & Services | - | 26.94% | - | - | |
| Industrial Support Services | - | - | 7.78% | - | |
| Professional Business Support Services | - | - | - | 4.01% | |
| Industrial Suppliers | - | - | - | 1.80% | |
| Security Services | - | - | - | 1.15% | |
| Transaction Processing Services | - | - | - | 0.82% | |
| Industrial Engineering | - | - | 6.97% | - | |
| Machinery: Industrial | - | - | - | 3.96% | |
| Machinery: Engines | - | - | - | 1.81% | |
| Machinery: Construction & Handling | - | - | - | 1.19% | |
| Industrial Transportation | - | - | 5.41% | - | |
| Transportation Services | - | - | - | 2.74% | |
| Commercial Vehicles & Parts | - | - | - | 2.67% | |
| Electronic & Electrical Equipment | - | - | 4.48% | - | |
| Electrical Components | - | - | - | 2.85% | |
| Electronic Equipment: Control & Filter | - | - | - | 1.51% | |
| Electronic Equipment: Other | - | - | - | 0.12% | |
| General Industrials | - | - | 2.29% | - | |
| Containers & Packaging | - | - | - | 2.29% | |
| Construction & Materials | - | 6.07% | - | - | |
| Construction & Materials | - | - | 6.07% | - | |
| Engineering & Contracting Services | - | - | - | 3.17% | |
| Building Materials: Other | - | - | - | 1.32% | |
| Building: Climate Control | - | - | - | 1.01% | |
| Construction | - | - | - | 0.56% | |
| Consumer Discretionary | 16.38% | - | - | - | |
| Consumer Products & Services | - | 6.85% | - | - | |
| Personal Goods | - | - | 5.25% | - | |
| Clothing & Accessories | - | - | - | 2.25% | |
| Luxury Items | - | - | - | 1.66% | |
| Footwear | - | - | - | 1.09% | |
| Cosmetics | - | - | - | 0.25% | |
| Leisure Goods | - | - | 1.20% | - | |
| Recreational Products | - | - | - | 0.96% | |
| Electronic Entertainment | - | - | - | 0.24% | |
| Consumer Services | - | - | 0.41% | - | |
| Rental & Leasing Services: Consumer | - | - | - | 0.41% | |
| Automobiles & Parts | - | 4.68% | - | - | |
| Automobiles & Parts | - | - | 4.68% | - | |
| Auto Parts | - | - | - | 2.03% | |
| Auto Services | - | - | - | 1.48% | |
| Tires | - | - | - | 1.18% | |
| Media | - | 3.16% | - | - | |
| Media | - | - | 3.16% | - | |
| Media Agencies | - | - | - | 2.18% | |
| Entertainment | - | - | - | 0.98% | |
| Travel & Leisure | - | 1.69% | - | - | |
| Travel & Leisure | - | - | 1.69% | - | |
| Casinos & Gambling | - | - | - | 1.01% | |
| Hotels & Motels | - | - | - | 0.68% | |
| Financials | 14.84% | - | - | - | |
| Banks | - | 7.01% | - | - | |
| Banks | - | - | 7.01% | - | |
| Banks | - | - | - | 7.01% | |
| Insurance | - | 4.03% | - | - | |
| Non-life Insurance | - | - | 2.93% | - | |
| Full Line Insurance | - | - | - | 1.60% | |
| Property & Casualty Insurance | - | - | - | 1.33% | |
| Life Insurance | - | - | 1.10% | - | |
| Life Insurance | - | - | - | 1.10% | |
| Financial Services | - | 3.80% | - | - | |
| Investment Banking & Brokerage Services | - | - | 3.80% | - | |
| Investment Services | - | - | - | 2.89% | |
| Asset Managers & Custodians | - | - | - | 0.55% | |
| Diversified Financial Services | - | - | - | 0.37% | |
| Technology | 9.87% | - | - | - | |
| Technology | - | 9.87% | - | - | |
| Software & Computer Services | - | - | 6.11% | - | |
| Consumer Digital Services | - | - | - | 2.69% | |
| Computer Services | - | - | - | 2.01% | |
| Software | - | - | - | 1.41% | |
| Technology Hardware & Equipment | - | - | 3.76% | - | |
| Production Technology Equipment | - | - | - | 2.37% | |
| Semiconductors | - | - | - | 0.61% | |
| Electronic Office Equipment | - | - | - | 0.50% | |
| Computer Hardware | - | - | - | 0.27% | |
| Consumer Staples | 6.50% | - | - | - | |
| Food, Beverage & Tobacco | - | 4.55% | - | - | |
| Food Producers | - | - | 3.50% | - | |
| Food Products | - | - | - | 3.50% | |
| Beverages | - | - | 1.05% | - | |
| Brewers | - | - | - | 1.05% | |
| Personal Care, Drug & Grocery Stores | - | 1.95% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 1.95% | - | |
| Food Retailers & Wholesalers | - | - | - | 1.63% | |
| Drug Retailers | - | - | - | 0.31% | |
| Health Care | 5.30% | - | - | - | |
| Health Care | - | 5.30% | - | - | |
| Medical Equipment & Services | - | - | 3.13% | - | |
| Medical Equipment | - | - | - | 3.13% | |
| Pharmaceuticals & Biotechnology | - | - | 2.17% | - | |
| Pharmaceuticals | - | - | - | 1.62% | |
| Biotechnology | - | - | - | 0.55% | |
| Basic Materials | 4.88% | - | - | - | |
| Chemicals | - | 2.69% | - | - | |
| Chemicals | - | - | 2.69% | - | |
| Specialty Chemicals | - | - | - | 2.69% | |
| Basic Resources | - | 2.19% | - | - | |
| Industrial Metals & Mining | - | - | 1.13% | - | |
| Metal Fabricating | - | - | - | 1.13% | |
| Industrial Materials | - | - | 1.06% | - | |
| Diversified Materials | - | - | - | 1.06% | |
| Cash and Equivalents | 3.78% | - | - | - | |
| Energy | 3.24% | - | - | - | |
| Energy | - | 3.24% | - | - | |
| Non-Renewable Energy | - | - | 3.01% | - | |
| Oil Equipment & Services | - | - | - | 3.01% | |
| Renewable Energy | - | - | 0.23% | - | |
| Renewable Energy Equipment | - | - | - | 0.23% | |
| Telecommunications | 2.31% | - | - | - | |
| Telecommunications | - | 2.31% | - | - | |
| Telecommunications Service Providers | - | - | 2.16% | - | |
| Telecommunications Services | - | - | - | 2.16% | |
| Telecommunications Equipment | - | - | 0.16% | - | |
| Telecommunications Equipment | - | - | - | 0.16% | |
| Alternative Trading Strategies | -0.10% | - | - | - | |
| Alternative Trading Strategies | - | -0.10% | - | - | |
| Alternative Trading Strategies | - | - | -0.10% | - | |
| Alternative Trading Strategies | - | - | - | -0.10% | |
Regional Allocation
| Developed Europe - Excl UK | 94.68% | |
| Cash and Equivalents | 3.78% | |
| Non-Classified | 1.54% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 95.91% | |
| Cash | 2.82% | |
| Swiss Franc | 1.27% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Developed Europe - Excl UK | 94.68% | - | |
France
|
- | 15.23% | |
Netherlands
|
- | 13.73% | |
Italy
|
- | 11.57% | |
Germany
|
- | 10.94% | |
Sweden
|
- | 10.74% | |
Switzerland
|
- | 8.98% | |
Finland
|
- | 5.25% | |
Spain
|
- | 4.34% | |
Denmark
|
- | 4.04% | |
Norway
|
- | 3.34% | |
Austria
|
- | 3.21% | |
Belgium
|
- | 3.01% | |
Ireland
|
- | 0.30% | |
| Cash and Equivalents | 3.78% | - | |
| Non-Classified | 1.54% | - | |
Breakdown By Market Cap (%)
| Mega |
|
1.55% |
| Large |
|
18.48% |
| Medium |
|
72.09% |
| Small |
|
2.86% |
| Non-Classified |
|
1.22% |
| Cash |
|
3.78% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | BANCA GENERALI | 1.83% | Banks | Italy |
| 2 | ACCELLERON INDUSTRIES AG | 1.81% | Industrial Engineering | Switzerland |
| 3 | ELIS | 1.80% | Industrial Support Services | France |
| 4 | ARCADIS N.V. | 1.72% | Construction & Materials | Netherlands |
| 5 | CARGOTEC CORP | 1.67% | Industrial Transportation | Finland |
| 6 | PANDORA A/S | 1.66% | Personal Goods | Denmark |
| 7 | TECAN GROUP AG | 1.65% | Medical Equipment & Services | Switzerland |
| 8 | BAWAG GROUP AG | 1.62% | Banks | Austria |
| 9 | ASR NEDERLAND N.V. | 1.60% | Non-life Insurance | Netherlands |
| 10 | BANCO DE SABADELL SA | 1.58% | Banks | Spain |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 9.87% | - | - | - | - | - | - | 9.87% |
| Telecommunications | - | 2.31% | - | - | - | - | - | - | 2.31% |
| Financials | - | 14.84% | - | - | - | - | - | - | 14.84% |
| Consumer Discretionary | - | 16.38% | - | - | - | - | - | - | 16.38% |
| Consumer Staples | - | 6.50% | - | - | - | - | - | - | 6.50% |
| Energy | - | 3.24% | - | - | - | - | - | - | 3.24% |
| Health Care | - | 5.30% | - | - | - | - | - | - | 5.30% |
| Industrials | - | 33.01% | - | - | - | - | - | - | 33.01% |
| Basic Materials | - | 4.88% | - | - | - | - | - | - | 4.88% |
| Cash and Equivalents | - | - | - | - | - | - | - | 3.78% | 3.78% |
| Non-Classified | - | - | - | - | - | - | -0.10% | - | -0.10% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B7NB1W7 |
| Mex Code | BATFIC |
| Isin Code | GB00B7NB1W76 |
| Citi Code | G60A |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.81% |
Aims and Benchmark
| Aims | The Trust aims to provide a total return, including both capital growth and dividend income (after fees have been deducted), in excess of the MSCI Europe ex UK Small Cap (Total Net Return) Index over a rolling five year period by investing in equity and equity related securities in Europe excluding the United Kingdom. |
| Benchmark | MSCI Europe ex UK Small Cap (Total Net Return) Index |
| Benchmark Category | - |
| IA Sector | European Smaller Companies |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | Unit Trust |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Biannually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 March | 30 April |
| 02 September | 31 October |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | NatWest Trustee and Depositary Services Limited |
| Fund Administrator | Northern Trust Global Services SE |
| Fund Registrar | The Northern Trust Company |
| Fund Custodian | Northern Trust Global Services SE |
Group Details
| Group name | Barings Fund Managers Limited |
| Group address | PO Box 831 155 Bishopsgate London EC2M 3YS |
| Group telephone | 020 7214 1004 |
| Dealing telephone | 020 7214 1004 |
| uk.sales@barings.com | |
| Homepage | www.barings.com |
| Fax number | 020 7214 1655 |
Dealing
| Minimum Investment | £10000000 |
| Minimum Top Up | £500 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | 2 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | -0.35 |
| Beta | 0.86 |
| Sharpe | -0.01 |
| Standard Deviation | 15.05 |
| Info Ratio | 0.01 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | Yes |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Smaller Companies
The fund invests in smaller companies. Smaller companies shares can be more volatile and less liquid than larger company shares, so smaller companies funds can carry more risk.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.