Evli Europe

Equity fund that invests in European companies

NAV
02.07.2020
Return %
Year-To-Date
Return %
1 y
Return % p.a.
3 y
Return % p.a.
5 y
Return % p.a.
Since start
52.949 -13.42 -4.15 -1.87 0.72 0.98
NAV
02.07.2020
Return %
Year-To-Date
Return %
1 y
Return % p.a.
3 y
Return % p.a.
5 y
Return % p.a.
Since start
121.340 -13.42 -4.15 -1.87 0.72 0.98
NAV
02.07.2020
Return %
Year-To-Date
Return %
1 y
Return % p.a.
3 y
Return % p.a.
5 y
Return % p.a.
Since start
106.040 -13.16 -3.57 -1.27 - 1.63

Risk

6/7

Morningstar

3/5

Recommended Investment Horizon

7 years or more

Administrative fees

1.60 % p.a.

Suitable for investors

  • who want to benefit from the return opprotunities of investing in European equity markets
  • who want to diversify their investments across a wider array of countries and sectors within Europe.

Invest

min. 1 000 € or 50 €/month

Evli Europe Fund is an equity fund that invests its assets primarily in European equities. The Fund’s investment strategy emphasizes underpriced companies that generate cash flow and have strong debt coverage. The Fund does not have any index, sector or country restrictions within Europe.

 

The portfolio is managed by

Hans-Kristian Sjoholm

Hans-Kristian Sjöholm

Investment Objective and Risks

The aim is to earn a return which, in the long term exceeds the return of the benchmark index.

As the fund's assets are invested in equities or equity-linked securities, the fund unit value can fluctuate significantly within a short period. The fund's investments carry an exchange rate risk.

Monthly review

31.05.2020

The Fund’s return was 2.2% in May, while the return of the benchmark index was 3.0%. The Fund’s return since 31.3.2010 (when present management took over) was 7.7% p.a., while the benchmark return was 5.5% p.a.

By sector, stock selection weakened the relative return across the board, with industrials and consumer discretionary contributing the most. On the other hand, sector weights improved the return differential, thanks to e.g. an overweight in industrials and an underweight in financials. Geographically, stock selection affected the return differential negatively. The most harmful selection effects came from the Netherlands, Norway, and Denmark, and the most beneficial ones from Sweden, Spain, and France. Country weights, such as an underweight in Germany, also weakened the relative return. The net effect of currency weights on the relative return was somewhat positive. An overweight in SEK helped the most, while an overweight in GBP was the biggest detractor. By stock, the most positive attribution effects came from our investment in Trigano, from the fact that HSBC was not in the portfolio, and from our investment in SKF. The bottom attributors were Compass, Tate & Lyle, and BE Semiconductor Industries.

Despite the market turmoil caused by the coronavirus, we have continued to systematically implement our investment process. From the end of February to the end of May, we exited 19 positions and entered into 22 new positions, while 24 positions remained the same. Compared to the early part of the year, our stock selection resulted in a higher portfolio weight in industrials and a less pronounced emphasis on consumer discretionary by the end of May. The weight of small and mid cap stocks increased in the portfolio.

Fund facts

Type of fund European equity fund (UCITS)
Investment activity began 31.08.2000
Benchmark index

MSCI Europe TR Net (EUR)

Profit distribution Fund-units are divided into A and B units. Profit share of at least 4% is distributed on A units annually.

Downloadable files

Invest

min. 1 000 € or 50 €/month