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Eurozone Equity Fund
Fund Snapshot
Launch Date 01/02/2002
Fund Manager BMO Global Asset Management
Risk Rating Risk Rating 6
Fund Type Asset Class Regional Equity Regional Equity
Diversification Diversification 2
Stocks & Holdings 41
Regions Covered Regions Covered 1
Fund Size €26.5m*
Latest Bid Price €2.6779 
Price Date 19/01/2018 

Fund Performance

Performance Line Graph

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Fund Summary
The Eurozone Equity Fund (formerly the European Equity Fund) invests in stocks listed in Eurozone markets. As an equity fund, this fund has a potentially high return but also a high risk profile given the risks inherent in investing in equities. The fund can be volatile over short to medium term periods. The underlying benchmark is the Dow Jones Eurostoxx index.

Market Commentary
Market review

As represented by the Euro Stoxx NR Index in euros, European ex-UK equity markets returned 4.5%. Eurozone economic data remained positive, with unemployment falling to an eight-year low and various surveys pointing to strength in the manufacturing sector. Data showed the eurozone economy expanded by 0.6% during the second quarter versus 0.5% in the prior quarter, its fastest pace of growth in six years. Eurozone inflation rose faster than expected in August as energy prices recovered, accelerating to 1.5% versus July's 1.3% reading. Angela Merkel's Christian Democrat party emerged as the largest party in Germany's federal elections, but polled less well than forecast, leaving Merkel facing difficult negotiations to form a coalition. In terms of country performance, Italy (9.8%) and Portugal (9.0%) were among the best-performing markets, while Finland (-0.21%) and Spain (0.66%) lagged.


During the period, the main purchases comprised Spanish property developer Neinor and Brenntag, a chemicals distribution group. The fund manager also sold their holdings in communications agency Publicis Groupe, global nutrition group Glanbia, and Plastic Omnium, a manufacturer of plastics.


The fund underperformed its benchmark (3.3% vs 4.5%) mainly because of stock selection. The three worst-performing stocks in the portfolio were textiles company Lenzing, due to weak sentiment towards the sector; Publicis Groupe, hurt by concerns about its market position; and no-frills carrier Ryanair, which cancelled thousands of flights due to a scheduling error. Among the best performers were ASML Holding, which benefited from ongoing capital investment, and Deutsche Post, helped by operational and financial efficiencies. German automotive manufacturer Continental also contributed, boosted by its driver assistance business. (30 Sept 2017)

Management Charge
0.75% pa of fund assets. Please refer to policy conditions for policy charges.

Geographical Split as at 30/09/2017

Top 10 Stocks as at 30/09/2017

Holding Country Weighting %
SAP SE Germany 4.61%
Bayer AG Germany 4.56%
Allianz SE Germany 4.14%
ING Groep NV Netherlands 3.63%
ASML Holding NV Netherlands 3.59%
Unilever NV Cert. of shs United Kingdom 3.52%
AXA SA France 3.25%
Schneider Electric SE France 3.22%
Intesa Sanpaolo S.p.A. Italy 3.20%
Air Liquide SA France 3.16%

This fund should be considered as being a medium-long term investment. Access to your investment in this fund may in periods of adverse investment conditions be restricted for up to one month. Asset Information source: BMO Global Asset Management, unless otherwise stated. Performance figures are as per 'price date'. * Fund size refers to assets under management in underlying fund.

The returns shown include the reinvestment of net income and are net of trading costs and management fees but before other insurance contract charges and as such do not represent the returns on insurance contracts linked to these funds. Details of all charges for a particular product are available on request.

The information in this document does not constitute investment advice. It does not take into account the investment objectives, financial position or needs of any particular investor. Before making an investment decision, you should consult suitably qualified and independent investment, taxation, and regulatory advisors to discuss your specific situation and investment objectives. The investment strategies and risk profiles outlined in this document may not be suitable for your specific investment needs.

Warning: Past performance is not a reliable guide to future performance.
Warning: The value of your investment may go down as well as up.
Warning: Funds may be affected by changes in currency exchange rates.
Warning: If you invest in this product you may lose some or all of the money you invest.

The information provided is intended for use by retail investment customers and is based on our understanding of current law and revenue practice.

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Fund Performance

Fund Performance To Date
Fund Description Fund 1 mth YTD 1YR 3YR p.a. 5YR p.a. 10YR p.a. Launch p.a

Warning: Past performance is not a reliable guide to future performance.
Warning: The value of your investment may go down as well as up.
Warning: Funds may be affected by changes in currency exchange rates.
Warning: If you invest in this product you may lose some or all of the money you invest.

  1. Performance Fees: The growth of the Insight Currency fund will be subject to a 20% monthly performance fee which only applies when the growth rate exceeds 7% p.a. The Market Neutral Equity fund will be subject to a performance fee of 10% of any growth achieved above cash returns (specifically 3-month EURIBID).
  2. The price protection on the Protected Equity+ Fund, Series 3 is provided by Deutsche Bank AG.
  3. Money invested in the Deposit fund is placed with one or more Banks. The payment of interest and security of capital is provided by the Bank(s). The Bank(s) and not Friends First are providing the security on the Deposit fund. Please refer to the Fund Factsheet.
  4. The property fund managers reserve the right to place a withdrawal limit or/and to defer encashment for up to six months or such time as is necessary to facilitate the sale of assets if required.
Fund Performance

Daily Fund Prices and Performance

Fund Name Bid Price Price Date 1Mth (%) YTD (%) 1Yr (%) 3Yrs (%) 5Yrs (%) 10Yrs (%) Since Launch (%)
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