Morningstar Fund Report  | 23/04/2025Print

Alken Fund - European Opportunities Class A

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Alken Fund - European Opportunities Class A
Fund16.212.47.07.620.4
+/-Cat2.324.2-3.57.216.2
+/-B’mrk-1.416.9-6.23.613.1
 
Category: Europe Flex-Cap Equity
Category Benchmark: Morningstar DM Eur TME NR EUR
Key Stats
NAV
22/04/2025		 EUR 339.06
Day Change 0.37%
Morningstar Category™ Europe Flex-Cap Equity
ISIN LU0524465977
Fund Size (Mil)
17/04/2025		 EUR 440.93
Share Class Size (Mil)
17/04/2025		 EUR 33.63
Max Initial Charge 3.00%
Ongoing Charge
14/03/2025		  2.30%
Morningstar Research
Analyst Report28/02/2025
Morningstar Manager Research,
Morningstar, Inc

Alken European Opportunities’ prospects rest more than ever on the investment acumen of its lead manager, Nicolas Walewski. But his increased workload and depleting research capabilities, after a wave of departures in the analyst ranks, are...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People23
Parent23
Process24
Performance
Price
Investment Objective: Alken Fund - European Opportunities Class A
To provide capital growth and to enable Investors to benefit from growth in the European equity market, primarily through dynamic investment in a growth/value style biased portfolio of equity securities of undervalued European companies with a high growth potential. This Sub-Fund is a relative return fund implying a medium tolerance to risk, with the objective to realise a relative net performance over the MSCI Europe Index (EUR).
Returns
Trailing Returns (GBP)22/04/2025
YTD23.36
3 Years Annualised11.89
5 Years Annualised16.21
10 Years Annualised7.23
12 Month Yield 0.00
Management
Manager Name
Start Date
Nicolas Walewski
03/01/2006
Marc Festa
01/01/2011
Inception Date
13/09/2010

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI Europe NR EURMorningstar DM Eur TME NR EUR
Portfolio Profile for  Alken Fund - European Opportunities Class A30/09/2024
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock100.610.00100.61
Bond0.000.000.00
Property0.000.000.00
Cash0.142.48-2.34
Other1.830.101.74
Top 5 Regions%
Eurozone76.17
United Kingdom13.66
Europe - ex Euro8.25
Latin America0.82
Canada0.81
Top 5 Sectors%
Industrials21.25
Financial Services17.35
Communication Services12.86
Energy12.25
Basic Materials10.01
Top 5 HoldingsSector%
Zegona Communications PLCCommunication ServicesCommunication Services9.71
Vallourec SABasic MaterialsBasic Materials6.27
Rheinmetall AGIndustrialsIndustrials6.07
RWE AG Class AUtilitiesUtilities5.89
BFF Bank SpAFinancial ServicesFinancial Services4.30
Increase Decrease New since last portfolio
Alken Fund - European Opportunities Class A
Growth Of 1000 (GBP) 31/03/2025
Fund:  Alken Fund - European Opportunities Class A
Category:  Europe Flex-Cap Equity
Category Index:  Morningstar DM Eur TME NR EUR
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-16.108.66-9.6716.2012.396.977.5520.44
+/- Category-1.51-7.52-17.512.3024.17-3.547.2016.24
+/- Category Index-6.84-10.43-12.24-1.4416.94-6.213.5713.05
% Rank in Category62919536374101
Trailing Returns (GBP)22/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.37   0.540.07
1 Week0.12   -0.18-0.32
1 Month-0.40   5.364.63
3 Months17.23   22.0618.86
6 Months31.24   33.3829.40
YTD23.36   22.6518.48
1 Year22.61   23.7519.29
3 Years Annualised11.89   9.794.20
5 Years Annualised16.21   8.164.77
10 Years Annualised7.23   2.250.37
 
Category: Europe Flex-Cap Equity
Category Index: Morningstar DM Eur TME NR EUR
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
202520.44---
20248.85-5.16-0.734.96
20235.12-4.72-0.637.47
202211.35-7.07-3.5912.66
20213.378.032.451.58
2020-24.609.060.249.57
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearHighHigh5 star
5-YearHighAbove Average5 star
10-YearAbove AverageAbove Average4 star
OverallHighAbove Average5 star
 
Category :  Europe Flex-Cap EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev16.95 %
3-Yr Mean Return13.39 %
 
3-Yr Sharpe Ratio0.51
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar DM Eur TME NR EUR  Morningstar Dev Europe Val TME NR EUR
3-Yr Beta1.041.19
3-Yr Alpha3.76-0.26
 
Investment Style Details30/09/2024
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)EUR 6115-
Market Capitalisation% of Equity
Giant3.05
Large23.32
Medium58.47
Small15.10
Micro0.06
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings8.820.66
Price/Book1.210.77
Price/Sales0.660.71
Price/Cash Flow4.570.65
Dividend-Yield Factor4.961.39
 
Long-Term Projected Earnings Growth20.572.00
Historical Earnings Growth4.391.16
Sales Growth0.91-0.09
Cash-Flow Growth-2.22-0.21
Book-Value Growth-20.16-4.40
 
Category: Europe Flex-Cap Equity
Asset Allocation30/09/2024
Asset Allocation
 % Long% Short% Net Assets
Stock100.610.00100.61
Bond0.000.000.00
Property0.000.000.00
Cash0.142.48-2.34
Other1.830.101.74
World Regions30/09/2024
 % of EquityRelative to Category
United States0.110.02
Canada0.814.25
Latin America0.8216.85
United Kingdom13.660.86
Eurozone76.171.31
Europe - ex Euro8.250.44
Europe - Emerging0.000.00
Africa0.000.00
Middle East0.000.00
Japan0.000.00
Australasia0.00-
Asia - Developed0.180.64
Asia - Emerging0.000.00
 
Category: Europe Flex-Cap Equity
Sector Weightings30/09/2024
 % of EquityRelative to Category
Basic MaterialsBasic Materials10.011.13
Consumer CyclicalConsumer Cyclical6.360.56
Financial ServicesFinancial Services17.351.09
Real EstateReal Estate1.451.57
Consumer DefensiveConsumer Defensive0.040.01
HealthcareHealthcare3.600.27
UtilitiesUtilities5.863.15
Communication ServicesCommunication Services12.862.74
EnergyEnergy12.253.20
IndustrialsIndustrials21.250.96
TechnologyTechnology8.970.94
 
Category: Europe Flex-Cap Equity
Top 10 Holdings30/09/2024
 Portfolio NEW
Total Number of Equity Holdings65
Total Number of Bond Holdings0
Assets in Top 10 Holdings50.29
NameSectorCountry% of Assets
Zegona Communications PLC308United Kingdom9.71
Vallourec SA101France6.27
Rheinmetall AG310Germany6.07
RWE AG Class A207Germany5.89
BFF Bank SpA103Italy4.30
Technip Energies NV Ordinary Shares309France4.23
Energean PLC309United Kingdom4.03
VusionGroup311France3.49
Publicis Groupe SA308France3.23
Novo Nordisk AS Class B206Denmark3.07
 
Increase Decrease New since last portfolio
Category: Europe Flex-Cap Equity
 
Management
Name of CompanyAFFM SA
Phone+352 260 967
Websitewww.affm.lu
Address3, Boulevard Royal
 Luxembourg   L-2449
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date13/09/2010
Fund Advisor(s)
Alken Asset Management Ltd
Fund ManagerNicolas Walewski
Manager Start Date03/01/2006
 
Biography
Nicolas Walewski is the Managing Partner of Alken Asset Management and the manager of Alken European Opportunities Fund. Nicolas began his investment career in 1993 with Credit Lyonnais in Paris as a currency options portfolio manager and then in Frankfurt as an index options portfolio manager. In 1998, Nicolas joined Banque Syz in London and became manager of the Oyster European Opportunities Fund, with 1.3bn under management.
Fund ManagerMarc Festa
Manager Start Date01/01/2011
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge3.00%
Max Exit Charge*3.00%
Annual Charges
Max Annual Management Charge1.95%
Ongoing Charge2.30%
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes