As a fund manager with 11 years of experience at JP Morgan, Scotsman Jim Campbell and co-manager, Italian Francesco Conte of the JP Morgan European Fledgling Investment Trust,"have been in place long enough to have experienced both good and bad times on the continental market", says The Daily Telegraph.
And it's their experience of the bad times that may account for the risk controls they've put in place to limit the fund's weightings by industry, country and stock to within a few percentage points.
However, this slightly cautionary approach hasn't stopped the trust's "thorough management from producing strong performance", says John Newlands of Newlands fund research in Money Observer. Indeed, over the past three years the fund has returned 197% according to investment funds information service Trustnet.com against 117.8% for the benchmark HSBC Smaller European Companies index and 92.8% for the FTSE Europe Ex UK index, says the FT. "Moreover, the trust is attractively priced, standing on a discount of 13%."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Taking into account factors from earnings growth to p/e valuations, Citywire AAA-rated Campbell employs "a mixture of bottom up, value and growth stock selection styles", says Citywire. Looking at around 1,000 firms with valuations of between e100m [£68m] and e4bn [£2.7bn], he tells The Daily Telegraph that "we focus on the best. There are around 55 holdings, so it's a concentrated portfolio".
Contact: 0500-500324
Name of holding % of assets
JPM Europe Micro Cap 11.9
Nutreco Holding NV 2.5
Sika 2.4
Tecnicas Reunidas 2.4
Valentino Fashion Group 2.3
Holmen 2.3
Oesterreichische Post 2.3
Catalana Occidente Sa De Seguros 2.2
Geberit 2.2
Davide Campari 2.2
-
Paying the grandkids’ school fees could generate a shock IHT billPrivate school fees have soared as a result of the government’s VAT policy, meaning more grandparents are helping out – but what are the tax implications?
-
Number of savings deals hits record high – as interest rates slump to two-year lowSavers have more choice than ever when it comes to choosing a savings account or cash ISA. But, the interest rates on offer continue to fall. What’s next for the savings market?
