View more on these topics

Take a Baring

At last, most European economies are picking up speed and unemployment is falling. With the new German coalition likely to agree on sensible economic reforms, that economy should recover as well.

There are signs that domestic demand is starting to improve and bank lending to firms and households has started to rise too. European stockmarkets fell in October but have recovered this month and look likely to recover further.

A European fund which I recommended about a year ago is Baring Europe select which is still the top performer over the past year when it rose by over 30 per cent. Fund manager Nicholas Williams has done an excellent job and his fund in the European smaller companies sector has outperformed all bigger company European funds as well.

Smaller companies in Europe are under-researched and many are showing much higher growth rates and rises in profits than bigger companies. There is also a great deal of corporate activity, especially in takeover bids. Around 90 per cent of the recent takeovers have been for smaller companies.

Williams invests in a wide variety of sectors, mostly financials, business providers, technology, industrial goods, retail providers and consumer goods which all account for over 13 per cent each of the total portfolio.

Some of the bigger holdings include SKF AB, Bank of Piraeus, Metzo, Fugro, Hexagon and Enagas. Most of the major invest-ment management groups are now optimistic about the future performance of European stockmarkets and I agree with them.

This trust is my first choice for the European section of growth portfolios. Others I like include Artemis European growth, Fidelity European, Framlington European and Thread-needle European smaller companies.


Diverging paths

Keith PopplewellIam now well advanced with this series of articles discussing various attributes of the main asset classes and projections of their future behaviour.

Turner turning the screw on industry

The Pensions Commission’s final report is a disaster for the financial services industry and would force product providers into deeper cost cuts than the introduction of stakeholder and drive IFAs out of the equation. Advisers and life offices have lined up to slam the proposals which were released on Tuesday by commission chairman Adair Turner. […]

Consortium bids to be first brand

IFA Consortium launched this week, with co-founder Allan Rosengren claiming the collective will become the first major consumer IFA brand. The firm is looking to provide national coverage, an international arm to service big corporate clients and an employee benefit team. He admits the group lacks presence in the North and South-east but says it […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm