VT Argonaut European Alpha Class R Acc

Essentials Portfolio Analysis Background Data Performance View PDF Factsheet
Portfolio data accurate as at:

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 -5.0% 21.0% -7.0% -4.1% 18.8%
Sector -7.2% 35.5% -2.6% 10.9% 9.3%
Rank 38/127 125/129 120/135 139/142 3/143
Quartile 2 4 4 4 1

Annualised performance

Annualised
3 Years to
30/04/24		 5 Years to
30/04/24		 10 Years to
30/04/24
Fund 2.0% 4.0% 3.8%
Sector 5.7% 8.2% 7.8%
Rank 116/135 119/127 96/97
Quartile 4 4 4

Top 10 Holdings

Stock % Weight
VNV GLOBAL AB 7.50
EDP RENOVAVEIS SA 4.87
POLYUS PJSC 4.51
WAREHOUSES DE PAUW NV 4.27
ZOOM VIDEO COMMUNICATIONS INC 4.15
AMAZON.COM INC 3.94
SILTRONIC AG 3.92
INFRASTRUTTURE WIRELESS ITALIA SPA 3.44
LOGITECH INTERNATIONAL SA 3.15
AMS AG 3.14
Total 42.89

Fund Aims

To achieve above average returns and attempt to perform a top quartile profile when measured against competing funds in the same sector.

Fund Manager

Barry Norris manager for 18 years and 11 months

Photo of Barry Norris Barry Norris graduated from Cambridge University in 1996 with an MA in History, and in 1997 with an MPhil in International Relations (with distinction). He also holds the CFA charter, the IMC and IIMR qualifications. Following graduation, Barry joined Baillie Gifford, moving to Neptune Investment Management in June 2002 as Head of European Equities. There he had sole responsibility for the European Opportunities Fund from its launch in November 2002 before founding Argonaut in 2005. The Argonaut European Alpha Fund, which was launched in May 2005, is managed by Barry along very similar lines using his distinct “earnings momentum” process. Barry also manages the Ignis Argonaut Pan European Fund, launched in December 2005 and the Argonaut Absolute Return Fund launched in February 2009. He is a regular contributor to the financial media, appearing frequently on Bloomberg TV and has had opinion pieces published in the Daily Telegraph and the Financial Times.

Fund Overview

Mid (30/04/2024) 228.84p
Historic yield 3.10%
Fund size (30/11/2020) £42.50m
Number of holdings 36
Entry Charge 0.00%
Ongoing Charges 0.81%
Launch date 16/07/2012

Asset Allocation

pie chart
  International Equities 94.94%
  Property 4.27%
  Cash and Equivalents 0.74%
  Alternative Trading Strategies 0.04%

Commentary

The market suffered a much higher degree of volatility during the month as US inflation stoked fears of higher interest rates, and led to a bout of profit taking. The fall in the price of oil saw related sectors hit particularly badly. The fund underperformed its sector average* as a number of key holdings were indiscriminately sold off regardless of their fundamentals. Norwegain stocks were hit as 'hot money' flew out short term. We expect the market will recover fairly quickly repeating the scenario of the March/April peroid of volatility. We do not believe anything fundamental has changed and valutions remain attractive. The fund has taken advantage of buying those stocks which were sold off and have already bounce upwards. We continue to focus on company fundamentals, which are excellent within the portfolio.*Source: Lipper, bid to bif, net income reinvested to 31/10/05

Portfolio data accurate as at: 30/11/20

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 investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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.

Portfolio data accurate as at:

Asset Allocation

pie chart
  International Equities 94.94%
  Property 4.27%
  Cash and Equivalents 0.74%
  Alternative Trading Strategies 0.04%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
 Consumer Discretionary 22.37% - - -
 
 Consumer Products & Services - 9.42% - -
 
 Leisure Goods - - 4.82% -
 
 Electronic Entertainment - - - 4.82%
 
 Household Goods & Home Construction - - 2.77% -
 
 Home Construction - - - 2.77%
 
 Consumer Services - - 1.83% -
 
 Rental & Leasing Services: Consumer - - - 1.83%
 
 Media - 4.95% - -
 
 Media - - 4.95% -
 
 Publishing - - - 2.99%
 
 Radio & TV Broadcasters - - - 1.95%
 
 Travel & Leisure - 4.06% - -
 
 Travel & Leisure - - 4.06% -
 
 Travel & Tourism - - - 2.28%
 
 Airlines - - - 1.78%
 
 Retail - 3.94% - -
 
 Retailers - - 3.94% -
 
 Diversified Retailers - - - 3.94%
 
 Financials 18.71% - - -
 
 Financial Services - 7.50% - -
 
 Investment Banking & Brokerage Services - - 7.50% -
 
 Asset Managers & Custodians - - - 7.50%
 
 Banks - 5.63% - -
 
 Banks - - 5.63% -
 
 Banks - - - 5.63%
 
 Insurance - 5.57% - -
 
 Non-life Insurance - - 5.57% -
 
 Full Line Insurance - - - 2.83%
 
 Reinsurance - - - 2.75%
 
 Technology 17.21% - - -
 
 Technology - 17.21% - -
 
 Technology Hardware & Equipment - - 10.22% -
 
 Semiconductors - - - 7.06%
 
 Computer Hardware - - - 3.15%
 
 Software & Computer Services - - 6.99% -
 
 Software - - - 4.15%
 
 Consumer Digital Services - - - 2.84%
 
 Basic Materials 9.44% - - -
 
 Basic Resources - 9.44% - -
 
 Industrial Metals & Mining - - 4.93% -
 
 Iron & Steel - - - 2.93%
 
 Nonferrous Metals - - - 2.00%
 
 Precious Metals & Mining - - 4.51% -
 
 Gold Mining - - - 4.51%
 
 Health Care 9.00% - - -
 
 Health Care - 9.00% - -
 
 Pharmaceuticals & Biotechnology - - 7.09% -
 
 Pharmaceuticals - - - 5.05%
 
 Biotechnology - - - 2.03%
 
 Health Care Providers - - 1.91% -
 
 Health Care Services - - - 1.91%
 
 Real Estate 5.22% - - -
 
 Real Estate - 5.22% - -
 
 Real Estate Investment Trusts - - 5.22% -
 
 Industrial REITs - - - 4.27%
 
 Office REITs - - - 0.95%
 
 Utilities 4.87% - - -
 
 Utilities - 4.87% - -
 
 Electricity - - 4.87% -
 
 Alternative Electricity - - - 4.87%
 
 Industrials 4.87% - - -
 
 Industrial Goods & Services - 4.87% - -
 
 Industrial Support Services - - 3.00% -
 
 Transaction Processing Services - - - 3.00%
 
 Aerospace & Defence - - 1.86% -
 
 Aerospace - - - 1.86%
 
 Telecommunications 3.44% - - -
 
 Telecommunications - 3.44% - -
 
 Telecommunications Service Providers - - 3.44% -
 
 Telecommunications Services - - - 3.44%
 
 Energy 2.12% - - -
 
 Energy - 2.12% - -
 
 Non-Renewable Energy - - 2.12% -
 
 Integrated Oil & Gas - - - 2.12%
 
 Consumer Staples 1.98% - - -
 
 Personal Care, Drug & Grocery Stores - 1.98% - -
 
 Personal Care, Drug & Grocery Stores - - 1.98% -
 
 Drug Retailers - - - 1.98%
 
 Cash and Equivalents 0.74% - - -
 
 Alternative Trading Strategies 0.04% - - -
 
 Alternative Trading Strategies - 0.04% - -
 
 Alternative Trading Strategies - - 0.04% -
 
 Alternative Trading Strategies - - - 0.04%
 
 Non-Classified 0.00% - - -

Regional Allocation

pie chart
  Developed Europe - Excl UK 59.81%
  North America 20.92%
  Emerging Europe 14.26%
  Property 4.27%
  Cash and Equivalents 0.74%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 93.53%
  Cash 3.01%
  US Dollar 1.33%
  Pound Sterling 1.28%
  Unrecognised 0.23%
  Australian Dollar 0.20%
  Other Currencies 0.38%

Regional Breakdown

Expand allCollapse all
Region Country
 
 Developed Europe - Excl UK 59.81% -
 
 Italy - 9.27%
 
 Sweden - 7.54%
 
 Switzerland - 5.90%
 
 Germany - 5.83%
 
 Luxembourg - 4.88%
 
 Spain - 4.87%
 
 France - 4.72%
 
 Denmark - 4.08%
 
 Netherlands - 3.85%
 
 Austria - 3.14%
 
 Norway - 2.99%
 
 Ireland - 1.78%
 
 Belgium - 0.95%
 
 North America 20.92% -
 
 United States - 20.92%
 
 Emerging Europe 14.26% -
 
 Russian Federation - 11.44%
 
 Hungary - 2.81%
 
 Property 4.27% -
 
 Cash and Equivalents 0.74% -

Breakdown By Market Cap (%)

Mega
 
 
14.17%
Large
 
 
20.67%
Medium
 
 
4.60%
Small
 
 
0.95%
Non-Classified
 
 
58.87%
Cash
 
 
0.74%

Top 10 Holdings

Stock % Weight Sector Country
1 VNV GLOBAL AB 7.50% Investment Banking & Brokerage Services Sweden
2 EDP RENOVAVEIS SA 4.87% Electricity Spain
3 POLYUS PJSC 4.51% Precious Metals & Mining Russian Federation
4 WAREHOUSES DE PAUW NV 4.27% Real Estate Investment Trusts Direct Property and REITs
5 ZOOM VIDEO COMMUNICATIONS INC 4.15% Software & Computer Services United States
6 AMAZON.COM INC 3.94% Retailers United States
7 SILTRONIC AG 3.92% Technology Hardware & Equipment Germany
8 INFRASTRUTTURE WIRELESS ITALIA SPA 3.44% Telecommunications Service Providers Italy
9 LOGITECH INTERNATIONAL SA 3.15% Technology Hardware & Equipment Switzerland
10 AMS AG 3.14% Technology Hardware & Equipment Austria

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology - 17.21% - - - - - - 17.21%
Telecommunications - 3.44% - - - - - - 3.44%
Financials - 18.71% - - - - - - 18.71%
Real Estate - 0.95% - - - 4.27% - - 5.22%
Consumer Discretionary - 22.37% - - - - - - 22.37%
Consumer Staples - 1.98% - - - - - - 1.98%
Energy - 2.12% - - - - - - 2.12%
Utilities - 4.87% - - - - - - 4.87%
Health Care - 9.00% - - - - - - 9.00%
Industrials - 4.87% - - - - - - 4.87%
Basic Materials - 9.44% - - - - - - 9.44%
Cash and Equivalents - - - - - - - 0.74% 0.74%
Non-Classified - - - - - - 0.04% - 0.04%

Important Information

The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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 B7MW8T7
Mex Code -
Isin Code GB00B7MW8T72
Citi Code G0SN

Fund Charges

Entry Charge 0.00%
Ongoing Charges 0.81%

Aims and Benchmark

Aims To achieve above average returns and attempt to perform a top quartile profile when measured against competing funds in the same sector.
Benchmark MSCI Europe ex UK
Benchmark Category -
IA Sector Europe Excluding UK

Fund Background

Valuation frequency Daily
Valuation point 12:00
Fund type OEIC
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 No income
Distribution Payment Basis Net

Distribution Dates

Ex dividend date(s) Income payment date(s)
01 March 30 April
01 September 31 October

Ratings

FE Crown Crown Rating of 1

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 Valu-Trac Investment Management Limited
Fund Registrar Valu-Trac Investment Management Limited
Fund Custodian Royal Bank of Canada

Group Details

Group name VT Argonaut Capital Partners
Group address IFDS Managers – Argonaut PO Box 11954 Chelmsford CM99 2DR
Group telephone 0207 152 6107
Dealing telephone 0844 620 0290
Email -
Homepage www.argonautcapitalpartners.co.uk
Fax number -

Dealing

Minimum Investment -
Minimum Top Up -
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 information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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 investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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.