Man GLG Continental European Growth Fund Professional Accumulation Shares (Class C)

European Equities

Rated Fund 2016-20. Seeks out firms with strong market positions and pricing power    

This fund has been managed by Rory Powe since 2014. Powe has a near 30-year history of running European equity funds. His current fund is already showing the benefit of his well-defined investment process.

Nowadays, the companies he invests in have to pass stringent criteria before they can be included in his portfolio, which consists of 30 holdings from a list of more than 2,000 possibilities. However, they can be of any size and from any country or industry in continental Europe. He owns big consumer companies such as Ferrari, L’Oreal and LVMH, as well as lesser-known firms.

To pass Powe’s selection process, companies must display several characteristics that are sustainable over the long term. They must enjoy a leadership position in their marketplace to ensure they have pricing power, demonstrate an ability to grow and achieve rising profits and strong free cash flows, and exhibit financial strength generally. Their share price must show growth potential.

Powe divides the companies in his portfolio into two types: established leaders, which represent at least 50% of the fund, and emerging winners, which can account for up to a third. He expects more growth from companies in the latter category, albeit with greater risk attached.

Narrative and ratings content all as of January 2020.

See all Money Observer rated funds
Name
Man GLG Continental European Growth Fund Professional Accumulation Shares (Class C)
Manager
Man Group Plc
Type
Open Ended Investment Company
ISIN
GB00B0119487
Sector
Europe Excluding UK
Launched
25/05/2004
OCF
0.9 %
Risk Rating
3
3 Year Sharpe
0.57
3 Year Alpha
7.37
Yield
0.4 %
Benchmark
FTSE World Eur Ex UK TR GBP
The objective of the Fund is to achieve above average long term capital growth through investing, directly or indirectly, primarily in the quoted securities of companies listed on European Stock Exchanges.
Holding %
SAP SE 7.97 %
Ryanair Holdings PLC 6.59 %
Ferrari NV 5.83 %
Chr. Hansen Holding A/S 5.82 %
LVMH Moet Hennessy Louis Vuitton SE 5.27 %
L'Oreal SA 4.84 %
Delivery Hero SE 4.76 %
Adyen NV 4.66 %
ASML Holding NV 4.52 %
Novo Nordisk A/S B 4.33 %
Region %
Eurozone 65.98 %
Europe - ex Euro 27.20 %
United Kingdom 5.57 %
Sector %
Consumer Cyclical 21.30 %
Technology 18.90 %
Industrials 17.50 %
Healthcare 16.06 %
Consumer Defensive 9.04 %
Basic materials 7.07 %
Communication Services 5.89 %
Name
Man Group Plc
Address
EC4R 3AD, London, United Kingdom
UCITS
Yes
Legal Structure
Open Ended Investment Company

Managers

Virginia Nordback
Joined 11/01/2018
Rory Powe
Joined 10/01/2014

Rory Powe is a long-only Lead Portfolio Manager focusing on European stocks and joined Man GLG in July 2014. Prior to this, he founded Powe Capital Management (‘PCM’) in 2001 and for 12 years managed its European funds. Before founding PCM, Rory was a global partner at INVESCO and ran their flagship continental European strategy for 10 years. He graduated from Trinity College, Oxford University, in 1985 with a BA (Hons) in Modern History.

Data provided by Morningstar.

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