Morningstar Fund Report  | 11/04/2025Print

Comgest Growth Europe ex UK GBP SU Acc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Comgest Growth Europe ex UK GBP SU Acc
Fund26.1-17.221.4-5.5-1.7
+/-Cat10.7-8.47.8-6.5-6.9
+/-B’mrk8.9-9.76.4-7.5-9.4
 
Category: Europe ex-UK Equity
Category Benchmark: Morningstar DM Eur xUK TME ...
Key Stats
NAV
09/04/2025		 GBP 25.81
Day Change -1.45%
Morningstar Category™ Europe ex-UK Equity
IA (formerly IMA) Sector Europe Excluding UK
ISIN IE00BQ1YBM13
Fund Size (Mil)
08/04/2025		 GBP 212.71
Share Class Size (Mil)
08/04/2025		 GBP 61.32
Max Initial Charge -
Ongoing Charge
18/02/2025		  0.98%
Morningstar Research
Analyst Report11/07/2024
Mathieu Caquineau, Director
Morningstar, Inc

Comgest Growth Europe ex UK’s strong and cohesive team and its time-tested growth strategy make it an outstanding choice for investors. The fund earns People and Process ratings of High and retains a Morningstar Analyst Rating of Gold on all its...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People25
Parent24
Process25
Performance
Price
Investment Objective: Comgest Growth Europe ex UK GBP SU Acc
The investment objective of the Fund is to achieve capital appreciation by creating a professionally managed portfolio consisting of what, in the opinion of the Investment Manager, are high quality long-term growth companies having their headquarters or carrying out their predominant activities in any European country with the exception of the United Kingdom. In pursuit of the Investment Objective, the Investment Manager intends investing in shares or equity linked securities including depositary receipts, preferred stock, convertible bonds and debentures which are convertible into equity securities issued by European companies (except for companies having their headquarters or carrying out their predominant activities in the UK) at least two thirds of which will be quoted or traded on Regulated Markets in Member States and Switzerland.
Returns
Trailing Returns (GBP)09/04/2025
YTD-7.19
3 Years Annualised0.31
5 Years Annualised7.14
10 Years Annualised-
12 Month Yield 0.00
Management
Manager Name
Start Date
Franz Weis
18/12/2014
Denis Callioni
30/08/2024
Click here to see others
Inception Date
15/01/2016

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI Europe Ex UK NR GBPMorningstar DM Eur xUK TME NR EUR
Portfolio Profile for  Comgest Growth Europe ex UK GBP SU Acc31/03/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock97.550.0097.55
Bond0.000.000.00
Property0.000.000.00
Cash2.450.002.45
Other0.000.000.00
Top 5 Regions%
Eurozone62.09
Europe - ex Euro28.69
United States9.22
Canada0.00
Latin America0.00
Top 5 Sectors%
Healthcare29.08
Technology23.22
Industrials13.68
Consumer Cyclical12.07
Consumer Defensive11.34
Top 5 HoldingsSector%
ASML Holding NVTechnologyTechnology5.52
Alcon IncHealthcareHealthcare5.17
Schneider Electric SEIndustrialsIndustrials4.80
Amadeus IT Group SATechnologyTechnology4.79
EssilorluxotticaHealthcareHealthcare4.78
Increase Decrease New since last portfolio
Comgest Growth Europe ex UK GBP SU Acc
Growth Of 1000 (GBP) 31/03/2025
Fund:  Comgest Growth Europe ex UK GBP SU Acc
Category:  Europe ex-UK Equity
Category Index:  Morningstar DM Eur xUK TME NR EUR
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-1.0428.3318.6026.11-17.1821.37-5.47-1.65
+/- Category10.729.079.2310.70-8.447.85-6.48-6.89
+/- Category Index--10.708.89-9.716.38-7.49-9.39
% Rank in Category261328519393
Trailing Returns (GBP)09/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-1.45   0.030.76
1 Week-6.38   2.052.83
1 Month-12.27   0.520.45
3 Months-9.88   -3.64-5.10
6 Months-13.65   -6.46-7.75
YTD-7.19   -3.66-5.69
1 Year-17.99   -10.61-13.27
3 Years Annualised0.31   -3.45-4.66
5 Years Annualised7.14   -2.19-2.64
10 Years Annualised-   --
 
Category: Europe ex-UK Equity
Category Index: Morningstar DM Eur xUK TME NR EUR
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-1.65---
20249.59-5.43-1.97-6.96
202313.163.83-7.4111.57
2022-12.13-10.19-2.998.17
2021-0.2211.014.638.81
2020-8.0716.563.207.26
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageAbove Average2 star
5-YearBelow AverageAbove Average2 star
10-Year--Not Rated
OverallBelow AverageAbove Average2 star
 
Category :  Europe ex-UK EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev15.34 %
3-Yr Mean Return3.23 %
 
3-Yr Sharpe Ratio-0.05
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar DM Eur xUK TME NR EUR  Morningstar Dev Europe Grt TME NR EUR
3-Yr Beta1.111.11
3-Yr Alpha-5.90-3.49
 
Investment Style Details31/03/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 48205-
Market Capitalisation% of Equity
Giant40.08
Large46.85
Medium10.76
Small2.32
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings25.051.58
Price/Book3.721.63
Price/Sales3.552.15
Price/Cash Flow18.021.59
Dividend-Yield Factor1.540.47
 
Long-Term Projected Earnings Growth10.391.03
Historical Earnings Growth6.710.89
Sales Growth8.122.26
Cash-Flow Growth12.814.16
Book-Value Growth12.032.16
 
Category: Europe ex-UK Equity
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock97.550.0097.55
Bond0.000.000.00
Property0.000.000.00
Cash2.450.002.45
Other0.000.000.00
World Regions31/03/2025
 % of EquityRelative to Category
United States9.225.38
Canada0.000.00
Latin America0.00-
United Kingdom0.000.00
Eurozone62.090.92
Europe - ex Euro28.690.99
Europe - Emerging0.000.00
Africa0.00-
Middle East0.00-
Japan0.00-
Australasia0.000.00
Asia - Developed0.000.00
Asia - Emerging0.00-
 
Category: Europe ex-UK Equity
Sector Weightings31/03/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials10.611.61
Consumer CyclicalConsumer Cyclical12.071.19
Consumer DefensiveConsumer Defensive11.341.75
HealthcareHealthcare29.082.04
IndustrialsIndustrials13.680.65
TechnologyTechnology23.221.92
 
Category: Europe ex-UK Equity
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings36
Total Number of Bond Holdings0
Assets in Top 10 Holdings44.42
NameSectorCountry% of Assets
ASML Holding NV311Netherlands5.52
Alcon Inc206Switzerland5.17
Schneider Electric SE310France4.80
Amadeus IT Group SA311Spain4.79
Essilorluxottica206France4.78
Air Liquide SA101France4.70
Novo Nordisk AS Class B206Denmark3.93
Dassault Systemes SE311France3.84
Industria De Diseno Textil SA Share F... 102Spain3.69
L'Oreal SA205France3.21
 
Increase Decrease New since last portfolio
Category: Europe ex-UK Equity
 
Management
Name of CompanyComgest Asset Management Intl Ltd
Phone-
Website -
Address6th Floor, 2 Grand Canal Square
 Dublin   -
 Ireland
DomicileIreland
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date15/01/2016
Fund Advisor(s)
Comgest Asset Management Intl Ltd
Fund ManagerFranz Weis
Manager Start Date18/12/2014
Career Start Year1990
Education
Heriot-Watt University, M.A.
 
Biography
Franz Weis joined Comgest in 2005 and is a Portfolio Manager specialising in European equities. In addition to being the Group’s Chief Investment Officer (CIO), he is Managing Director of Comgest Global Investors as well as a member of the Group’s Board of Partners and Executive Committee. Franz leads the firm's European research efforts and co-leads the management of the majority of Comgest’s European equity strategies. In his role as CIO, Franz oversees the firm’s investment teams and chairs the Investment Committee, which is responsible for applying Comgest’s philosophy on successful long-term investing. He started his career in 1990 at Baillie Gifford & Co. where he worked as a Portfolio Manager before joining F&C Asset Management as a Senior Portfolio Manager and Director of European Equities in 1996. Franz graduated from Heriot-Watt University (Scotland) with a Master’s degree in International Banking and Financial Studies and received the International Bankers in Scotland Prize in 1990.
Fund ManagerDenis Callioni
Manager Start Date30/08/2024
Career Start Year2010
Education
Duisenberg School of Finance, M.Com
University of Amsterdam, M.S.
 
Biography
Denis Callioni joined Comgest in 2015 and is an Analyst and Portfolio Manager specialising in European equities. She co-leads the Europe Smaller Companies and Europe Opportunities strategies, contributes to idea generation and researches European companies within a broad range of sectors. Denis started her career in 2010 as an equity Analyst at Kempen & Co Merchant bank in Amsterdam. She holds a Master’s degree in Corporate Finance and Banking from Duisenberg School of Finance (the Netherlands) as well as a Master’s degree in Business and Economics obtained from the University of Amsterdam. Denis is a CFA® charterholder.
Fund ManagerJames Hanford
Manager Start Date28/07/2023
Career Start Year2011
Education
University of Cambridge, M.B.A.
University of Durham, B.A./B.S.
 
Biography
James Hanford joined Comgest in 2018 and is an Analyst and Portfolio Manager specialising in European equities. James contributes widely to the investment team’s research coverage for a diverse selection of pan-European quality growth stocks. He started his career in 2011 as an Analyst at Credit Suisse and prior to joining Comgest spent four years as a global generalist at Capital Group. He obtained his Bachelor’s degree in Economics from the University of Durham where he graduated top of his class and holds a Master’s degree in Finance from the University of Cambridge. He is also a CFA® charterholder.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.85%
Ongoing Charge0.98%
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes