Fund Objective

The Multi-Manager European Equity Fund is designed to provide investors with actively managed exposure to the European equity markers. The Fund aims to add value above the total return of the FTSE World Europe ex-UK Index primarily through active stock selection.

View on Past Performance

Despite the strong gains of the first half of the quarter, European equities declined when negative investor sentiment returned. Bleak economic updates also highlighted the dilemma facing the European Central Bank, which indicated that it may raise rates to combat rising inflation but must also consider the effect that this would have on economic growth.Inflation continued to be driven by the rising price of foodstuffs and commodities, the latter of which benefited the performance of energy and materials stocks. Banks continued to report asset write-downs, which drove the market lower. Elsewhere, the gloomy economic outlook led to a sell-off in consumer-oriented stocks.

Fund Details