Barings Fund Managers Limited Europe Select Trust Class I Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 31/10/20 to 31/10/21 |
31/10/21 to 31/10/22 |
31/10/22 to 31/10/23 |
31/10/23 to 31/10/24 |
31/10/24 to 31/10/25 |
|
|---|---|---|---|---|---|
| Fund | 31.5% | -23.6% | 1.2% | 14.3% | 12.3% |
| Sector | 39.6% | -26.4% | 1.6% | 17.1% | 18.1% |
| Rank | 22/25 | 11/25 | 13/25 | 20/25 | 17/25 |
| Quartile | 4 | 2 | 2 | 4 | 3 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/10/25 |
5 Years to 31/10/25 |
10 Years to 31/10/25 |
||
| Fund | 9.1% | 5.5% | 8.1% | |
| Sector | 12.0% | 7.6% | 8.2% | |
| Rank | 20/25 | 20/25 | 11/23 | |
| Quartile | 4 | 4 | 2 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| HERA S.P.A. | 2.02 |
| BAWAG GROUP AG | 2.01 |
| ASR NEDERLAND N.V. | 1.91 |
| RENK GROUP AG | 1.82 |
| AVOLTA AG | 1.80 |
| EFG INTERNATIONAL AG | 1.79 |
| FLUIDRA S.A. | 1.76 |
| KONINKLIJKE VOPAK N.V. | 1.74 |
| VAN LANSCHOT KEMPEN N.V. | 1.62 |
| NEINOR HOMES SA | 1.61 |
| Total | 18.09 |
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
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.
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.
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.
Fund Overview
| Mid (13/11/2025) | 4983.00p |
| Historic yield | 0.62% |
| Fund size (30/09/2025) | £425.64m |
| Number of holdings | 98 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.82% |
| Launch date | 29/08/2012 |
Asset Allocation
| International Equities | 97.85% | |
| Cash and Equivalents | 2.15% | |
| Other Assets | 0.00% |
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.
Asset Allocation
| International Equities | 97.85% | |
| Cash and Equivalents | 2.15% | |
| Other Assets | 0.00% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Industrials | 28.26% | - | - | - | |
| Industrial Goods & Services | - | 16.73% | - | - | |
| Industrial Engineering | - | - | 5.56% | - | |
| Machinery: Industrial | - | - | - | 2.40% | |
| Machinery: Construction & Handling | - | - | - | 1.79% | |
| Machinery: Specialty | - | - | - | 1.36% | |
| Electronic & Electrical Equipment | - | - | 3.67% | - | |
| Electrical Components | - | - | - | 1.61% | |
| Electronic Equipment: Gauges & Meters | - | - | - | 1.08% | |
| Electronic Equipment: Control & Filter | - | - | - | 0.98% | |
| Industrial Support Services | - | - | 2.37% | - | |
| Security Services | - | - | - | 1.29% | |
| Industrial Suppliers | - | - | - | 1.08% | |
| Industrial Transportation | - | - | 2.17% | - | |
| Transportation Services | - | - | - | 2.17% | |
| Aerospace & Defence | - | - | 1.82% | - | |
| Defense | - | - | - | 1.82% | |
| General Industrials | - | - | 1.14% | - | |
| Containers & Packaging | - | - | - | 0.61% | |
| Diversified Industrials | - | - | - | 0.53% | |
| Construction & Materials | - | 11.53% | - | - | |
| Construction & Materials | - | - | 11.53% | - | |
| Building Materials: Other | - | - | - | 5.79% | |
| Construction | - | - | - | 2.89% | |
| Engineering & Contracting Services | - | - | - | 1.51% | |
| Building: Climate Control | - | - | - | 0.99% | |
| Building, Roofing/Wallboard & Plumbing | - | - | - | 0.35% | |
| Financials | 22.13% | - | - | - | |
| Banks | - | 11.29% | - | - | |
| Banks | - | - | 11.29% | - | |
| Banks | - | - | - | 11.29% | |
| Insurance | - | 5.91% | - | - | |
| Non-life Insurance | - | - | 5.91% | - | |
| Full Line Insurance | - | - | - | 4.50% | |
| Property & Casualty Insurance | - | - | - | 1.41% | |
| Financial Services | - | 4.94% | - | - | |
| Investment Banking & Brokerage Services | - | - | 4.94% | - | |
| Investment Services | - | - | - | 3.36% | |
| Asset Managers & Custodians | - | - | - | 0.99% | |
| Diversified Financial Services | - | - | - | 0.58% | |
| Consumer Discretionary | 16.14% | - | - | - | |
| Consumer Products & Services | - | 5.38% | - | - | |
| Leisure Goods | - | - | 5.05% | - | |
| Recreational Products | - | - | - | 2.47% | |
| Electronic Entertainment | - | - | - | 1.53% | |
| Toys | - | - | - | 1.05% | |
| Personal Goods | - | - | 0.32% | - | |
| Cosmetics | - | - | - | 0.32% | |
| Retail | - | 3.72% | - | - | |
| Retailers | - | - | 3.72% | - | |
| Specialty Retailers | - | - | - | 3.21% | |
| Diversified Retailers | - | - | - | 0.51% | |
| Automobiles & Parts | - | 2.50% | - | - | |
| Automobiles & Parts | - | - | 2.50% | - | |
| Auto Parts | - | - | - | 2.50% | |
| Travel & Leisure | - | 2.33% | - | - | |
| Travel & Leisure | - | - | 2.33% | - | |
| Casinos & Gambling | - | - | - | 1.51% | |
| Hotels & Motels | - | - | - | 0.82% | |
| Media | - | 2.21% | - | - | |
| Media | - | - | 2.21% | - | |
| Entertainment | - | - | - | 1.20% | |
| Media Agencies | - | - | - | 1.02% | |
| Technology | 8.70% | - | - | - | |
| Technology | - | 8.70% | - | - | |
| Software & Computer Services | - | - | 6.41% | - | |
| Computer Services | - | - | - | 3.98% | |
| Consumer Digital Services | - | - | - | 2.43% | |
| Technology Hardware & Equipment | - | - | 2.29% | - | |
| Production Technology Equipment | - | - | - | 1.51% | |
| Semiconductors | - | - | - | 0.78% | |
| Health Care | 6.25% | - | - | - | |
| Health Care | - | 6.25% | - | - | |
| Medical Equipment & Services | - | - | 3.37% | - | |
| Medical Equipment | - | - | - | 3.37% | |
| Pharmaceuticals & Biotechnology | - | - | 2.88% | - | |
| Pharmaceuticals | - | - | - | 2.26% | |
| Biotechnology | - | - | - | 0.62% | |
| Consumer Staples | 3.48% | - | - | - | |
| Food, Beverage & Tobacco | - | 3.48% | - | - | |
| Food Producers | - | - | 1.99% | - | |
| Food Products | - | - | - | 1.99% | |
| Beverages | - | - | 1.49% | - | |
| Brewers | - | - | - | 1.49% | |
| Real Estate | 3.26% | - | - | - | |
| Real Estate | - | 3.26% | - | - | |
| Real Estate Investment & Services | - | - | 3.26% | - | |
| Real Estate Holding and Development | - | - | - | 3.26% | |
| Energy | 3.13% | - | - | - | |
| Energy | - | 3.13% | - | - | |
| Non-Renewable Energy | - | - | 3.13% | - | |
| Oil Equipment & Services | - | - | - | 3.13% | |
| Basic Materials | 2.79% | - | - | - | |
| Chemicals | - | 1.55% | - | - | |
| Chemicals | - | - | 1.55% | - | |
| Specialty Chemicals | - | - | - | 1.55% | |
| Basic Resources | - | 1.24% | - | - | |
| Industrial Metals & Mining | - | - | 1.24% | - | |
| Metal Fabricating | - | - | - | 1.24% | |
| Cash and Equivalents | 2.15% | - | - | - | |
| Utilities | 2.02% | - | - | - | |
| Utilities | - | 2.02% | - | - | |
| Gas, Water & Multi-utilities | - | - | 2.02% | - | |
| Multi-Utilities | - | - | - | 2.02% | |
| Non-Classified | 1.39% | - | - | - | |
| Telecommunications | 0.29% | - | - | - | |
| Telecommunications | - | 0.29% | - | - | |
| Telecommunications Equipment | - | - | 0.29% | - | |
| Telecommunications Equipment | - | - | - | 0.29% | |
Regional Allocation
| Developed Europe - Excl UK | 97.85% | |
| Cash and Equivalents | 2.15% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 95.91% | |
| Cash | 2.82% | |
| Swiss Franc | 1.27% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Developed Europe - Excl UK | 97.85% | - | |
Germany
|
- | 14.73% | |
Sweden
|
- | 14.69% | |
Switzerland
|
- | 11.41% | |
France
|
- | 10.40% | |
Netherlands
|
- | 9.94% | |
Spain
|
- | 8.45% | |
Denmark
|
- | 8.40% | |
Italy
|
- | 7.47% | |
Austria
|
- | 7.02% | |
Finland
|
- | 2.25% | |
Norway
|
- | 2.08% | |
Belgium
|
- | 1.01% | |
| Cash and Equivalents | 2.15% | - | |
Breakdown By Market Cap (%)
| Large |
|
11.68% |
| Medium |
|
60.90% |
| Small |
|
13.70% |
| Non-Classified |
|
11.57% |
| Cash |
|
2.15% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | HERA S.P.A. | 2.02% | Gas, Water & Multi-utilities | Italy |
| 2 | BAWAG GROUP AG | 2.01% | Banks | Austria |
| 3 | ASR NEDERLAND N.V. | 1.91% | Non-life Insurance | Netherlands |
| 4 | RENK GROUP AG | 1.82% | Aerospace & Defence | Germany |
| 5 | AVOLTA AG | 1.80% | Retailers | Switzerland |
| 6 | EFG INTERNATIONAL AG | 1.79% | Banks | Switzerland |
| 7 | FLUIDRA S.A. | 1.76% | Construction & Materials | Spain |
| 8 | KONINKLIJKE VOPAK N.V. | 1.74% | Non-Renewable Energy | Netherlands |
| 9 | VAN LANSCHOT KEMPEN N.V. | 1.62% | Banks | Netherlands |
| 10 | NEINOR HOMES SA | 1.61% | Real Estate Investment & Services | Spain |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 8.70% | - | - | - | - | - | - | 8.70% |
| Telecommunications | - | 0.29% | - | - | - | - | - | - | 0.29% |
| Financials | - | 22.13% | - | - | - | - | - | - | 22.13% |
| Real Estate | - | 3.26% | - | - | - | - | - | - | 3.26% |
| Consumer Discretionary | - | 16.14% | - | - | - | - | - | - | 16.14% |
| Consumer Staples | - | 3.48% | - | - | - | - | - | - | 3.48% |
| Energy | - | 3.13% | - | - | - | - | - | - | 3.13% |
| Utilities | - | 2.02% | - | - | - | - | - | - | 2.02% |
| Health Care | - | 6.25% | - | - | - | - | - | - | 6.25% |
| Industrials | - | 28.26% | - | - | - | - | - | - | 28.26% |
| Basic Materials | - | 2.79% | - | - | - | - | - | - | 2.79% |
| Cash and Equivalents | - | - | - | - | - | - | - | 2.15% | 2.15% |
| Non-Classified | - | 1.39% | - | - | - | - | - | - | 1.39% |
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 | B7NB1W7 |
| Mex Code | BATFIC |
| Isin Code | GB00B7NB1W76 |
| Citi Code | G60A |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.82% |
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 |
| 01 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 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.