European Opportunities Fund


Fund overview

The Fund aims to achieve capital growth by investing in a concentrated portfolio of predominantly European company shares that the Managers believe have the potential for above average growth. This is a high conviction Fund, typically holding 30-40 positions based on the Managers' ‘best ideas’. The Managers emphasise stock selection and the Fund will exhibit a growth bias.

Fund Managers

Steve Bolton has worked on the European funds since October 2016.  Steve joined RLAM in August 2013 following the acquisition of The Co-operative Asset Management by the Royal London Group where he worked as Assistant Fund Manager on the Sustainable Funds. Steve previously worked as an Investment Research Analyst covering both equities and investment grade credit. After graduating with a Law degree, Steve became a CFA Charterholder in 2012.

Since joining RLAM in 2014, Sebastien Beguelin has worked on the European funds, initially as an Equity Analyst and as Assistant Fund Manager since April 2017. Before joining RLAM, he worked in Paris as an Equity Analyst at Sycomore Asset Management and prior to that was an Equity Analyst at Comgest. Sebastien holds a Bachelor in Economics from the University of Savoy, a Master in Management from the Toulouse Business School in France and is a CFA Charterholder.

Investment approach

The Fund is a focused fund that seek to identify the best investment opportunities in Europe. The Managers focus on bottom-up analysis with a top-down risk overlay. Stock selection is central to the investment process. The Managers utilise a range of internal screens and external resources to identify potential investments, and will typically look to meet with the company prior to investment and regularly afterwards. The Managers prefer businesses, products or services that are able to grow faster than the broader economy, operate in markets with high barriers to entry, and generate strong cashflows. The Fund is a high conviction fund. A range of quantitative risk tools are utilised to monitor factor exposures and ensure consistency with the Managers’ macroeconomic views.

Product Risk Warning

Past performance is not a guide to future performance. The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not get back the amount originally invested. For funds that use derivatives, their use may be beneficial, however, they also involve specific risks. Derivatives may alter the economic exposure of a fund over time, causing it to deviate from the performance of the broader market. All rights in the FTSE World Europe ex UK Index (the “Index”) vest in FTSE International Limited (“FTSE”). “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE under licence. The Royal London European Opportunities Fund (the " Fund") has been developed solely by Royal London Asset Management. The Index is calculated by FTSE or its agent. FTSE and its licensors are not connected to and do not sponsor, advise, recommend, endorse or promote the Fund and do not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Fund. FTSE makes no claim, prediction, warranty or representation either as to the results to be obtained from the Fund or the suitability of the Index for the purpose to which it is being put by Royal London Asset Management.