TM Lansdowne European Special Situations Fund 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 | -9.4% | 30.3% | -6.2% | 6.4% | 12.2% |
| Sector | -7.2% | 35.5% | -2.6% | 10.9% | 9.3% |
| Rank | 76/127 | 101/129 | 114/134 | 113/141 | 37/142 |
| Quartile | 3 | 4 | 4 | 4 | 2 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/04/24 |
5 Years to 30/04/24 |
10 Years to 30/04/24 |
||
| Fund | 3.9% | 5.8% | 7.7% | |
| Sector | 5.7% | 8.2% | 7.8% | |
| Rank | 102/134 | 104/127 | 57/97 | |
| Quartile | 4 | 4 | 3 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| LINDE PUBLIC LIMITED COMPANY | 7.58 |
| SCHNEIDER ELECTRIC SE | 6.59 |
| VINCI | 6.39 |
| IBERDROLA SA | 6.20 |
| COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN | 5.61 |
| SIKA AG | 5.27 |
| RYANAIR HLDGS | 4.79 |
| CAPGEMINI SE | 4.76 |
| INTESA SANPAOLO SPA | 4.69 |
| ESSILORLUXOTTICA | 4.68 |
| Total | 56.55 |
Fund Aims
The investment objective of the Fund is to achieve long term capital growth by investing in European (excluding the UK) equities of companies in special situations.
Fund Manager
Daniel joined Lansdowne Partners in April 2006 and is the Portfolio Manager for the European Long Only Strategy. Prior to joining Lansdowne, Daniel worked for five years in the Pan-European telecoms services equities research team at Dresdner Kleinwort Wasserstein which was ranked 1st in the 2005 Extel Survey. Daniel holds a Master’s degree with Distinction in Information Technology and a First Class Honours for his Bachelor degree in Mechanical Engineering with Mathematics from the University of Nottingham. Daniel is a holder of the CFA. Daniel has been a Partner of the firm since April 2011 and has sat on the Management Committee since September 2018.
Fund Overview
| Mid (08/05/2024) | 262.61p |
| Historic yield | 1.80% |
| Fund size (31/12/2023) | £423.93m |
| Number of holdings | 28 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.85% |
| Launch date | 08/06/2015 |
Asset Allocation
| International Equities | 95.13% | |
| UK Equities | 4.87% |
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 | 95.13% | |
| UK Equities | 4.87% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Industrials | 19.79% | - | - | - | |
| Construction & Materials | - | 11.67% | - | - | |
| Construction & Materials | - | - | 11.67% | - | |
| Construction | - | - | - | 6.39% | |
| Building Materials: Other | - | - | - | 5.27% | |
| Industrial Goods & Services | - | 8.13% | - | - | |
| Electronic & Electrical Equipment | - | - | 6.59% | - | |
| Electrical Components | - | - | - | 6.59% | |
| Industrial Support Services | - | - | 1.16% | - | |
| Professional Business Support Services | - | - | - | 1.16% | |
| Industrial Engineering | - | - | 0.38% | - | |
| Machinery: Construction & Handling | - | - | - | 0.38% | |
| Consumer Discretionary | 15.37% | - | - | - | |
| Automobiles & Parts | - | 5.61% | - | - | |
| Automobiles & Parts | - | - | 5.61% | - | |
| Tires | - | - | - | 5.61% | |
| Travel & Leisure | - | 4.79% | - | - | |
| Travel & Leisure | - | - | 4.79% | - | |
| Airlines | - | - | - | 4.79% | |
| Media | - | 2.66% | - | - | |
| Media | - | - | 2.66% | - | |
| Media Agencies | - | - | - | 2.18% | |
| Publishing | - | - | - | 0.48% | |
| Consumer Products & Services | - | 2.32% | - | - | |
| Consumer Services | - | - | 1.54% | - | |
| Vending & Catering Service | - | - | - | 1.54% | |
| Personal Goods | - | - | 0.78% | - | |
| Luxury Items | - | - | - | 0.78% | |
| Health Care | 14.72% | - | - | - | |
| Health Care | - | 14.72% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 7.55% | - | |
| Pharmaceuticals | - | - | - | 7.55% | |
| Medical Equipment & Services | - | - | 7.17% | - | |
| Medical Supplies | - | - | - | 7.17% | |
| Financials | 12.94% | - | - | - | |
| Banks | - | 8.29% | - | - | |
| Banks | - | - | 8.29% | - | |
| Banks | - | - | - | 8.29% | |
| Insurance | - | 4.64% | - | - | |
| Non-life Insurance | - | - | 4.64% | - | |
| Property & Casualty Insurance | - | - | - | 4.64% | |
| Basic Materials | 11.88% | - | - | - | |
| Chemicals | - | 7.58% | - | - | |
| Chemicals | - | - | 7.58% | - | |
| Chemicals: Diversified | - | - | - | 7.58% | |
| Basic Resources | - | 4.30% | - | - | |
| Industrial Metals & Mining | - | - | 2.96% | - | |
| General Mining | - | - | - | 2.96% | |
| Industrial Materials | - | - | 1.34% | - | |
| Paper | - | - | - | 1.34% | |
| Technology | 9.15% | - | - | - | |
| Technology | - | 9.15% | - | - | |
| Software & Computer Services | - | - | 4.76% | - | |
| Computer Services | - | - | - | 4.76% | |
| Technology Hardware & Equipment | - | - | 4.39% | - | |
| Production Technology Equipment | - | - | - | 4.39% | |
| Utilities | 6.20% | - | - | - | |
| Utilities | - | 6.20% | - | - | |
| Electricity | - | - | 6.20% | - | |
| Conventional Electricity | - | - | - | 6.20% | |
| Consumer Staples | 4.23% | - | - | - | |
| Food, Beverage & Tobacco | - | 4.23% | - | - | |
| Food Producers | - | - | 4.23% | - | |
| Food Products | - | - | - | 4.23% | |
| Energy | 3.80% | - | - | - | |
| Energy | - | 3.80% | - | - | |
| Non-Renewable Energy | - | - | 3.80% | - | |
| Integrated Oil & Gas | - | - | - | 3.80% | |
| Telecommunications | 1.92% | - | - | - | |
| Telecommunications | - | 1.92% | - | - | |
| Telecommunications Service Providers | - | - | 1.92% | - | |
| Telecommunications Services | - | - | - | 1.92% | |
Regional Allocation
| Developed Europe - Excl UK | 95.13% | |
| UK | 4.87% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 95.03% | |
| Cash | 4.27% | |
| Norwegian Krone | 0.70% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Developed Europe - Excl UK | 95.13% | - | |
France
|
- | 35.25% | |
Switzerland
|
- | 12.78% | |
Ireland
|
- | 12.37% | |
Spain
|
- | 6.20% | |
Finland
|
- | 5.98% | |
Sweden
|
- | 5.27% | |
Netherlands
|
- | 4.87% | |
Italy
|
- | 4.69% | |
Denmark
|
- | 4.13% | |
Belgium
|
- | 3.07% | |
Germany
|
- | 0.54% | |
| UK | 4.87% | - | |
United Kingdom
|
- | 4.87% | |
Breakdown By Market Cap (%)
| Mega |
|
59.71% |
| Large |
|
11.62% |
| Medium |
|
1.92% |
| Non-Classified |
|
26.75% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | LINDE PUBLIC LIMITED COMPANY | 7.58% | Chemicals | Ireland |
| 2 | SCHNEIDER ELECTRIC SE | 6.59% | Electronic & Electrical Equipment | France |
| 3 | VINCI | 6.39% | Construction & Materials | France |
| 4 | IBERDROLA SA | 6.20% | Electricity | Spain |
| 5 | COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN | 5.61% | Automobiles & Parts | France |
| 6 | SIKA AG | 5.27% | Construction & Materials | Switzerland |
| 7 | RYANAIR HLDGS | 4.79% | Travel & Leisure | Ireland |
| 8 | CAPGEMINI SE | 4.76% | Software & Computer Services | France |
| 9 | INTESA SANPAOLO SPA | 4.69% | Banks | Italy |
| 10 | ESSILORLUXOTTICA | 4.68% | Medical Equipment & Services | France |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 9.15% | - | - | - | - | - | - | 9.15% |
| Telecommunications | - | 1.92% | - | - | - | - | - | - | 1.92% |
| Financials | - | 12.94% | - | - | - | - | - | - | 12.94% |
| Consumer Discretionary | 3.71% | 11.66% | - | - | - | - | - | - | 15.37% |
| Consumer Staples | - | 4.23% | - | - | - | - | - | - | 4.23% |
| Energy | - | 3.80% | - | - | - | - | - | - | 3.80% |
| Utilities | - | 6.20% | - | - | - | - | - | - | 6.20% |
| Health Care | - | 14.72% | - | - | - | - | - | - | 14.72% |
| Industrials | 1.16% | 18.63% | - | - | - | - | - | - | 19.79% |
| Basic Materials | - | 11.88% | - | - | - | - | - | - | 11.88% |
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 | BTJRPZ4 |
| Mex Code | 0JAAO |
| Isin Code | GB00BTJRPZ43 |
| Citi Code | GMZ6 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.85% |
Aims and Benchmark
| Aims | The investment objective of the Fund is to achieve long term capital growth by investing in European (excluding the UK) equities of companies in special situations. |
| Benchmark | The Investment Association Europe ex UK Sector is used as a performance comparator |
| Benchmark Category | Comparator |
| IA Sector | Europe Excluding UK |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | OEIC |
| Launch price | £100.00 |
| 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 April | 31 May |
| 01 October | 30 November |
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 | State Street Trustees Limited |
| Fund Administrator | State Street Bank and Trust Company |
| Fund Registrar | SS&C Financial Services Europe Limited |
| Fund Custodian | State Street Bank and Trust Company |
Group Details
| Group name | TM OEIC |
| Group address | Thesis Asset Management Limited Exchange Building St John's Street Chichester West Sussex PO19 1UP |
| Group telephone | +44 (0)1243 531 234 |
| Dealing telephone | +44 (0)1243 531 234 |
| ed.baynton-williams@tutman.co.uk | |
| Homepage | https://www.thesisam.com/ |
| Fax number | - |
Dealing
| Minimum Investment | £15000000 |
| Minimum Top Up | £500000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 4 days |
| Settlement Period: Sell | 4 days |
| Pricing Basis | Forward |
| Dealing Decimals | 4 |
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 | -1.13 |
| Beta | 0.97 |
| Sharpe | 0.03 |
| Standard Deviation | 13.33 |
| Info Ratio | -0.37 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | Yes |
| 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 | Yes |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | Yes |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Concentrated Portfolio
The fund may invest in a relatively smaller number of stocks. This stock concentration may carry more risk than funds spread across a larger number of companies.
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.
Income Eroding Capital Growth
The fund focuses on providing an income, which can reduce the prospects for capital growth, and in some cases the capital value may fall.
Liquidity
This fund can suffer from partial or total illiquidity, which may lead to considerable price fluctuations and the inability to redeem your investment.
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.