Fund Objective

The Fund's investment objective is to provide long term capital growth by investing in continental Europe.

View on Past Performance

European equities fell sharply in June with falls across all sectors. Investor sentiment was affected by concerns about weak economic growth and higher inflation. The more cyclical sectors, such as consumer goods, fell the most. Oil & gas and basic materials also fell.

Future Expectations

The corporate environment is challenging especially in the consumer and banking sectors. While the valuations of European equity markets are below long-term averages, the outlook for earnings is uncertain. Markets are likely to remain volatile while the level of economic uncertainty is high.

Fund Details