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*All data sources: Waverton, FactSet as at 30 June 2024 unless otherwise stated. All performance shown is cumulative and net of fees for a typical S.W. Mitchell Capital Pan European equity mandate. The performance results presented are hypothetical, for informational purposes only, and are not intended to, nor do they, represent the actual performance of any one specific client or group of clients over the time period shown. There can be no assurances that the performance can or will be achieved. No guarantee of future performance can or will be made. Actual returns will vary depending on a variety of factors and conditions. Performance shown is for four chain linked typical Pan European Mandates that had a similar investment objective ; the first from Feb 1999 until Aug 1999, the second between Sept 1999 and Dec 2011, the third from Jan 2012 to Jan 2019, and the fourth from Feb 2019 to current. Any further information required is available from the Investment Manager upon request.
Figures are subject to rounding. Changes in rate of exchange may cause the value of investments to fluctuate.
Ardtur European Focus Fund
Ardtur European Focus Fund invests in developed European equity markets. The investment objective is to generate long term capital growth for investors. The fund is long only and typically consists of 20 to 30 positions. The portfolio manager believes that portfolio construction is at the core of risk management and the size of each position is determined by the level of conviction in the holding.
Why Ardtur European Focus Fund
- Strategy. The Ardtur European Focus Fund follows a traditional value approach at a time when Europe is ripe for a continued recovery of value, that started in the summer of 2020. The fund is concentrated, with typically 20-30 longs which is important for both alpha generation and risk management.
- Unique edge. Our value approach combines deep market insights with over 400 company meetings per annum, robust risk management, and a market leading track record of navigating complex market environments in Europe. The Ardtur European Focus has compounded at 11.5% over 15 years.
- Current opportunity. Global markets and economies have been dislocated by extreme monetary policies since the 2008 financial crisis. In equity markets this has resulted in an extraordinary pricing differential between the winners and losers of these policies, much of which plays out in the dramatic divergence in growth versus value. With the prolonged episode of negative interest rates in Europe, Europe is at a further extreme. However, we see substantial opportunity in a normalisation of the losers hence the “value case for Europe”.
Fund Information
Performance
Annualised performance since inception Ardtur European Focus Fund EUR A (annualised) Data as of 31-Dec-24
No data available
Source: S.W. Mitchell Capital unaudited data. For full disclaimer, please see bottom of this page
Cumulative performance since inception Ardtur European Focus Fund EUR A (%) Data as of 31-Dec-24
Source: S.W. Mitchell Capital unaudited data. For full disclaimer, please see bottom of this page
Daily prices
Share price as of 10-Jan-24
Source: S.W. Mitchell Capital unaudited data. For full disclaimer, please see bottom of this page
Portfolio
Top 5 holdings as of 31-Dec-24
Country Allocation as of 31-Dec-24
No data available
Source: S.W. Mitchell Capital unaudited data
Sector Allocation as of 31-Dec-24
No data available
Source: S.W. Mitchell Capital unaudited data
Resources
Source: S.W. Mitchell Capital and MSCI
How To Invest
Postal Address
GenFunds Global plc
c/o U.S. Bank Global Fund Services (Ireland) Limited
24-26 City Quay
Dublin 2
Ireland
Attention: Shareholder Services
Attention: Shareholder Services
Applicants (the “Applicants”) must read the Company’s Prospectus, relevant fund Supplement, US Supplement and the relevant Key Information Document before completing this Application Form.
This Application Form is the property of the Company and may not be tampered with or amended without the consent of the Company. Any breach of the foregoing may render the Application Form void.
All applications must be made in writing using the printed Application Form. Please write name(s) using block capitals and fill in the address as indicated. Where there are joint applicants, all correspondence will be sent to the first named Applicant at that address. A completed Application Form must be received by the Administrator no later than 2pm (Irish time) on the Business Day immediately preceding the relevant Dealing Day via fax or email with printed original to follow via post .
U.S. Bank Global Fund Services (Ireland) Limited (the “Administrator”), acting on the Company’s behalf, must be sent a completed Application Form for each Share issue together with relevant Anti Money Laundering documents.
Where an application is made by fax, the original signed Application Form must be mailed to the Company, at the above address within ten business days.
Stefan Wey,
Head of Ardtur Business Development and Client Relations
Disclaimers
Note: Equity exposure includes all equity related instruments. Currency exposure relates to exposure of all assets held by the fund, including any forward currency positions. Past performance is net of fees and other charges and includes the reinvestment of dividends. Performance from the 1st April 2010 to the 30th June 2015 uses the track record of the Waverton European Fund A EUR share class net of all fees and includes the reinvestment of dividends. It should be noted that the Waverton European Fund A EUR share class charged a performance fee from 1st April 2010 to 30th September 2011, and did not charge a performance fee from 1st October 2011 to 30th June 2015. From 1st July 2015 onwards performance shown is for the Ardtur European Focus EUR A share class which was subject to an annual management fee of 1.0% and no performance fee. The share classes available for investment post 1st July 2015 are the I and R classes which are subject to a 0.70% and 1.20% annual management charge respectively and a 20% relative performance fee. Calculation is on a NAV basis, net of all fees and includes the reinvestment of dividends. Please note that the Ardtur European Focus Fund, Brook European Focus Fund and Waverton European Focus Fund, whilst having similar investment processes and strategies, are subject to different investment guidelines, fees and charges. For full details please refer to the Fund’s prospectus. Equity exposure as classified by GICS. The fund was renamed effective 8th February 2021 from Odey European Focus Fund to Brook European Focus Fund. Effective 28th January 2022 the Brook European Focus Fund, a Sub-Fund of Odey Investment Funds Plc, merged into Brook European Focus Fund a Sub- Fund of Odey Investments Plc. The fund was renamed effective 29th September 2023 from Brook European Focus Fund to Ardtur European Focus Fund, a Sub-Fund of Genfunds Global PLC. All performance in EUR, unless otherwise stated.
Freedom to invest
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