M&G European Fund
Fund manager: Greg Aldridge
Funds Managed: M&G European Fund, M&G Pan European Fund
Fund manager: Charles Anniss
Funds Managed: M&G European Fund, M&G European Smaller Companies Fund, M&G Pan European Fund
The Fund’s prime objective is long term capital growth. It invests wholly or predominantly in a diversified portfolio of securities of European (excluding United Kingdom) issuers. When not wholly invested as above, it may also invest in companies which are listed or registered outside Europe but trade within it. Income is of secondary importance when investments are selected.
The M&G European Fund is a concentrated portfolio of between 40 and 60 holdings. It seeks to capitalise on compelling investment opportunities from across the European investment universe. The fund managers adopt a bottom-up approach to stock selection, based on detailed fundamental research. Consistent with their investment philosophy, the portfolio has a growth bias. However, the managers do not define growth in the traditional sense that focuses on rapid growth in earnings or sales. Instead, their investment approach focuses on companies with scarce assets that give the businesses a competitive edge over their competitors, and thereby help them to generate sustainable returns above the cost of capital. By reinvesting in the business at attractive rates of return, the fundamental value of these companies should grow over time, thereby rewarding long-term investors. The fund managers work closely with the risk management team to ensure that the primary driver of the portfolio’s risk is stock selection. Investors can expect a long-term, bottom-up investment approach with moderate turnover.
Greg Aldridge joined M&G in 2004 as an analyst covering basic industries stocks. He was appointed fund manager of the M&G Global Growth Fund in May 2007. He is also co-manager of the Vanguard International Growth Fund. In January 2011, he was appointed co-manager of the M&G Pan European Fund and the M&G European Fund. Greg joined M&G from McKinsey where he spent three years working with industrial and consumer goods clients on strategy and organisational issues. Prior to this, he worked four years in the investment banking division of Deutsche Morgan Grenfell specialising in the utilities sector. Greg holds an MA in economics from Cambridge University and an MBA from INSEAD.
Charles Anniss joined M&G in 2000 as a member of the investment communications team and became an analyst on the equities team in 2003, focusing on European smaller companies. In 2006, he took responsibility for managing the M&G European Smaller Companies Fund, and in January 2011 he was appointed co-manager of the M&G Pan European Fund and the M&G European Fund. Charles graduated in French and Spanish from Bristol University and is a CFA charterholder.
For more information on this fund please contact us.
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