Morningstar Fund Report  | 17/04/2025Print

abrdn Europe ex UK Smaller Companies Fund Retail Accumulation

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
abrdn Europe ex UK Smaller Companies Fund Retail Accumulation
Fund26.4-26.35.7-2.30.2
+/-Cat7.6-7.7-0.6-0.9-1.7
+/-B’mrk9.6-10.2-4.5-0.4-5.2
 
Category: Europe ex-UK Small/Mid-Cap Equity
Category Benchmark: MSCI Europe ex UK Small Cap...
Key Stats
NAV
16/04/2025		 GBX 355.40
Day Change -0.59%
Morningstar Category™ Europe ex-UK Small/Mid-Cap Equity
IA (formerly IMA) Sector European Smaller Companies
ISIN GB00BYYR2M03
Fund Size (Mil)
15/04/2025		 GBP 21.41
Share Class Size (Mil)
20/03/2025		 GBP 0.66
Max Initial Charge -
Ongoing Charge
11/02/2025		  1.34%
Morningstar Research
Analyst Report24/07/2024
Michael Born, Analyst
Morningstar, Inc

An experienced small-cap manager applying a proven process to a Europe ex-UK opportunity set makes Abrdn European Smaller Companies a strong choice in the space. The Morningstar Analyst Ratings for the P1 share class is maintained at Silver....

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent23
Process24
Performance
Price
Investment Objective: abrdn Europe ex UK Smaller Companies Fund Retail Accumulation
To generate growth over the long term (5 years or more) by investing in European smaller capitalisation equities (company shares). The fund will invest at least 70% in equities and equity related securities of small-capitalisation companies listed, incorporated or domiciled in European countries, or companies that derive a significant proportion of their revenues or profits from European operations or have a significant proportion of their assets there.
Returns
Trailing Returns (GBP)16/04/2025
YTD-1.61
3 Years Annualised-0.88
5 Years Annualised6.87
10 Years Annualised6.86
12 Month Yield 1.26
Management
Manager Name
Start Date
Andrew Paisley
25/08/2014
Inception Date
01/11/2007

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI Europe Ex UK Small Cap NR USDMSCI Europe ex UK Small Cap NR EUR
Portfolio Profile for  abrdn Europe ex UK Smaller Companies Fund Retail Accumulation31/03/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock97.840.0097.84
Bond0.050.000.05
Property0.000.000.00
Cash2.420.312.12
Other0.000.000.00
Top 5 Regions%
Eurozone76.75
Europe - ex Euro23.25
United States0.00
Canada0.00
Latin America0.00
Top 5 Sectors%
Industrials26.77
Financial Services15.55
Consumer Cyclical15.16
Technology10.06
Consumer Defensive8.74
Top 5 HoldingsSector%
Reply SpATechnologyTechnology4.75
InterparfumsConsumer DefensiveConsumer Defensive4.56
Addtech AB Class BIndustrialsIndustrials4.49
Borregaard ASABasic MaterialsBasic Materials4.46
Gaztransport et technigaz SAEnergyEnergy4.35
Increase Decrease New since last portfolio
abrdn Europe ex UK Smaller Companies Fund Retail Accumulation
Growth Of 1000 (GBP) 31/03/2025
Fund:  abrdn Europe ex UK Smaller Companies Fund Retail Accumulation
Category:  Europe ex-UK Small/Mid-Cap Equity
Category Index:  MSCI Europe ex UK Small Cap NR EUR
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-15.0121.9423.2426.43-26.305.72-2.330.17
+/- Category1.272.852.247.61-7.72-0.58-0.90-1.73
+/- Category Index-0.160.665.209.60-10.20-4.50-0.44-5.17
% Rank in Category4639391785605670
Trailing Returns (GBP)16/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.59   -1.66-0.50
1 Week6.28   1.17-1.24
1 Month-6.55   -1.78-2.34
3 Months-4.62   -3.17-6.15
6 Months-4.49   -1.01-5.07
YTD-1.61   -1.34-6.12
1 Year-3.71   -1.22-7.37
3 Years Annualised-0.88   -1.65-2.66
5 Years Annualised6.87   -2.35-3.76
10 Years Annualised6.86   -0.58-0.93
 
Category: Europe ex-UK Small/Mid-Cap Equity
Category Index: MSCI Europe ex UK Small Cap NR EUR
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20250.17---
20243.52-3.321.03-3.40
20235.60-4.49-7.4813.30
2022-19.07-15.02-7.0815.33
20210.4311.625.996.41
2020-19.6325.579.6911.33
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAverage3 star
5-YearAverageAverage2 star
10-YearAverageAverage3 star
Overall*AverageAverage3 star
 
Category :  Europe ex-UK Small/Mid-Cap EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev16.64 %
3-Yr Mean Return-0.65 %
 
3-Yr Sharpe Ratio-0.28
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 MSCI Europe ex UK Small Cap NR EUR  Morningstar Dev Eur SMID TME NR EUR
3-Yr Beta0.991.04
3-Yr Alpha-3.10-5.06
 
Investment Style Details31/03/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 3043-
Market Capitalisation% of Equity
Giant0.00
Large0.00
Medium75.05
Small22.52
Micro2.44
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings17.181.18
Price/Book2.511.26
Price/Sales1.631.44
Price/Cash Flow11.321.36
Dividend-Yield Factor2.720.95
 
Long-Term Projected Earnings Growth18.242.06
Historical Earnings Growth11.911.67
Sales Growth5.501.91
Cash-Flow Growth12.130.78
Book-Value Growth8.621.64
 
Category: Europe ex-UK Small/Mid-Cap Equity
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock97.840.0097.84
Bond0.050.000.05
Property0.000.000.00
Cash2.420.312.12
Other0.000.000.00
World Regions31/03/2025
 % of EquityRelative to Category
United States0.000.00
Canada0.00-
Latin America0.000.00
United Kingdom0.000.00
Eurozone76.751.18
Europe - ex Euro23.250.74
Europe - Emerging0.000.00
Africa0.00-
Middle East0.00-
Japan0.00-
Australasia0.00-
Asia - Developed0.000.00
Asia - Emerging0.000.00
 
Category: Europe ex-UK Small/Mid-Cap Equity
Sector Weightings31/03/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials7.080.99
Consumer CyclicalConsumer Cyclical15.161.28
Financial ServicesFinancial Services15.551.11
Real EstateReal Estate2.050.90
Consumer DefensiveConsumer Defensive8.742.70
HealthcareHealthcare6.270.57
Communication ServicesCommunication Services3.850.79
EnergyEnergy4.481.60
IndustrialsIndustrials26.770.99
TechnologyTechnology10.060.66
 
Category: Europe ex-UK Small/Mid-Cap Equity
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings40
Total Number of Bond Holdings0
Assets in Top 10 Holdings43.28
NameSectorCountry% of Assets
Reply SpA311Italy4.75
Interparfums205France4.56
Addtech AB Class B310Sweden4.49
Borregaard ASA101Norway4.46
Gaztransport et technigaz SA309France4.35
Fagron SA206Belgium4.21
Brunello Cucinelli SpA102Italy4.17
Azimut Holding SpA103Italy4.17
ASR Nederland NV103Netherlands4.11
Nemetschek SE311Germany4.00
 
Increase Decrease New since last portfolio
Category: Europe ex-UK Small/Mid-Cap Equity
 
Management
Name of Companyabrdn Fund Managers Limited
Phone-
Websitehttps://www.abrdn.com/en-gb
Address280 Bishopsgate
 London   EC2M 4AG
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date01/11/2007
Fund Advisor(s)
abrdn Investment Management Limited
Fund ManagerAndrew Paisley
Manager Start Date25/08/2014
Career Start Year1997
 
Biography
Andrew Paisley is Head of Smaller Companies and is responsible for the management of the European Smaller Companies strategy which includes a Luxembourg SICAV fund, UK OEIC fund and a number of segregated mandates. As head of the team, he is responsible for the management of the UK, Europe and Global Small Cap Team and performance. Andrew began his career as a Chartered Accountant at Arthur Andersen, before becoming sector analyst for Sutherlands Stockbrokers. He joined Edinburgh Fund Managers in 1999, joining Kempen Capital Management in 2006. In 2011, he became co-manager of all UK smaller company mandates at Scottish Widows Investment Partnership, prior to joining Aberdeen Standard Investments in August 2014 as Deputy Head of Smaller Companies before being appointed Head of Smaller Companies in March 2020. Andrew has an LLB (Hons), CA, IMC.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.30%
Ongoing Charge1.34%
Purchase Details
Minimum Investments
Initial500  GBP
Additional50  GBP
Savings50  GBP
Tax Free Savings Schemes
ISAsYes