LF Miton European Opportunities Fund B Accumulation

European Equities

New for 2020. Backs medium-sized companies with competitive advantages      

European equity markets have lagged other regional stockmarkets in recent years as many countries struggle to stave off recession, but LF Miton European Opportunities is a serial top performer, in both absolute and risk-adjusted terms. Its impressive performance won it Money Observer’s Best European Fund title in 2019 and a FundCalibre ‘elite’ rating. The fund has only been going since 2015, but it has delivered returns of more than double the sector average over three years. Carlos Moreno and Thomas Brown have run the fund since inception. Their strong risk/reward record suggests they are well-placed to find good companies in future.

They run a portfolio of around 50 high-quality European companies using a bottom-up, stockpicking approach. They favour firms that can create shareholder value by growing revenues, expanding margins and increasing return on capital, especially where that value creation potential is not yet reflected in the share price. The portfolio has a bias towards medium-sized companies.

Darius McDermott says: “We like its bias towards medium-sized companies and quality companies with strong brands and competitive advantages. Europe is full of such firms, so there’s great choice. We also like the fact that holdings are not reliant on the economy.”

Narrative and ratings content all as of January 2020.

See all Money Observer rated funds
Name
LF Miton European Opportunities Fund B Accumulation
Manager
Link Fund Solutions Limited
Type
Open Ended Investment Company
ISIN
GB00BZ2K2M84
Sector
Europe Excluding UK
Launched
14/12/2015
OCF
0.84 %
Risk Rating
1
3 Year Sharpe
0.95
3 Year Alpha
13.42
Yield
0.5 %
Benchmark
FTSE World Ex UK TR GBP
The investment objective of the fund is to achieve a combination of income and growth.
Holding %
ASML Holding NV 3.31 %
FinecoBank SpA 3.29 %
Homeserve PLC 3.19 %
Vestas Wind Systems A/S 3.16 %
Qiagen NV 2.94 %
Amplifon SpA 2.62 %
Adevinta ASA Class B 2.61 %
Kongsberg Gruppen ASA 2.60 %
Soitec SA 2.54 %
Deutsche Boerse AG 2.53 %
Region %
Eurozone 51.38 %
Europe - ex Euro 40.47 %
United Kingdom 5.21 %
Sector %
Healthcare 20.74 %
Industrials 19.77 %
Technology 19.48 %
Financial Services 16.28 %
Communication Services 10.94 %
Name
Link Fund Solutions Limited
Address
EC2V 7NQ, London, United Kingdom
UCITS
Yes
Legal Structure
Open Ended Investment Company

Managers

Carlos Moreno
Joined 12/14/2015

Carlos joined Miton Group plc in August 2015. He has many years investment experience in European Equities. He was previously Fund Manager at JO Hambro Capital Management Group where he managed the JO Hambro All Europe Dynamic Growth Fund from March 2011 until January 2015. Prior to this, he worked as Portfolio Manager at Thames River Capital Management managing the Thames River European Dynamic Growth Fund. Carlos started his career at Fidelity Worldwide Investments working as an Equity Analyst with responsibility for analysing European Media, Banks, Drinks, Leisure and Support Service sectors.

Thomas Brown
Joined 12/14/2015

Thomas Brown joined Miton Group plc in November 2015. Previously he worked with Carlos Moreno at Thames River Capital where he was Fund Manager on the Pan-European equities team. Prior to joining Miton, Thomas worked at Mitsubishi UFJ Asset Management (UK) where he co-managed the European Value & Momentum Fund from April 2014 until November 2015. Thomas also worked for the British Steel Pension Fund for seven years and has held other investment positions including with Scoggin Capital.

Data provided by Morningstar.

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