Morningstar Fund Report  | 25/04/2025Print

Clerical Medical Newton Continental European Pension Fund

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Clerical Medical Newton Continental European Pension Fund
Fund12.1-6.212.96.03.7
+/-Sector-3.42.9-0.85.0-2.5
 
Sector: Europe excl. UK Equities (Pen)
Key Stats
NAV
24/04/2025		 GBX 5374.21
Day Change 0.06%
ABI Sector Europe excl. UK Equities (Pen)
ISIN GB0031816019
Fund Size (Mil)
31/03/2025		 GBP 138.44
Share Class Size (Mil)
24/04/2025		 GBP 25.19
Stakeholder Yes
*  This rating and report were issued for the underlying fund and not the insurance product. Fees of insurance products may be higher, which can negatively impact returns. Insurance products may also hold cash outside the underlying fund, which can strongly affect performance.
Investment Objective: Clerical Medical Newton Continental European Pension Fund
The Sub-Fund aims to achieve capital growth over the long term (5 years or more). The Sub-Fund is actively managed and invests at least 75% of its NAV in a concentrated portfolio of equities (company shares issued by continental European companies including ordinary shares, preference shares and other equity-related securities). Continental European companies are defined as those that are either domiciled, incorporated or which have significant business in continental Europe (excluding the UK). At least 70% of the Sub-Fund’s NAV will meet the Investment Manager’s sustainability characteristics
Returns
Trailing Returns (GBP)24/04/2025
YTD4.79
3 Years Annualised8.74
5 Years Annualised10.34
10 Years Annualised7.33
12 Month Yield -
Dividend Paying Frequency 
Management
Manager Name
Start Date
Nicholas Pope
20/09/2023
Julianne McHugh
20/09/2023
Inception Date
01/07/2002

Category Benchmark
Fund BenchmarkMorningstar Benchmark
FTSE World Eur Ex UK TR GBPMorningstar DM Eur xUK TME NR EUR
Portfolio Profile for  Clerical Medical Newton Continental European Pension Fund31/03/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock98.240.0098.24
Bond0.000.000.00
Property0.000.000.00
Cash1.870.101.76
Other0.000.000.00
Top 5 Regions%
Eurozone72.90
Europe - ex Euro23.40
United Kingdom3.70
United States0.00
Canada0.00
Top 5 Sectors%
Industrials23.49
Financial Services23.41
Healthcare14.92
Technology13.62
Consumer Cyclical8.68
Top 5 HoldingsSector%
SAP SETechnologyTechnology5.32
Nestle SAConsumer DefensiveConsumer Defensive3.88
ASML Holding NVTechnologyTechnology3.85
Zurich Insurance Group AGFinancial ServicesFinancial Services3.75
Sanofi SAHealthcareHealthcare3.72
Increase Decrease New since last portfolio
Clerical Medical Newton Continental European Pension Fund
Growth Of 1000 (GBP) 31/03/2025
Fund:  Clerical Medical Newton Continental European Pension Fund
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-8.4616.959.0812.09-6.2512.915.953.71
+/- Category3.30-2.31-0.29-3.332.50-0.614.95-1.53
+/- Category Index--1.17-5.141.23-2.073.94-4.02
% Rank in Category127938803066673
Trailing Returns (GBP)24/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.06   0.12-0.32
1 Week2.75   0.600.40
1 Month-2.48   1.300.73
3 Months-2.41   0.01-2.45
6 Months2.02   0.45-1.74
YTD4.79   -0.14-2.70
1 Year2.39   1.92-0.99
3 Years Annualised8.74   1.970.33
5 Years Annualised10.34   -0.56-1.48
10 Years Annualised7.33   0.07-0.13
 
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
20253.71---
20249.811.39-0.94-3.93
20235.641.21-0.345.97
2022-7.27-8.66-0.4311.16
2021-0.135.711.144.98
2020-15.5820.16-0.277.82
 
 
 
Morningstar Rating™(Relative to ABI Sector)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAbove AverageBelow Average4 star
5-YearBelow AverageBelow Average3 star
10-YearAverageLow4 star
OverallAverageBelow Average4 star
 
ABI Sector :  Europe excl. UK Equities (Pen)  
Volatility Measurements31/03/2025
 
3-Yr Std Dev10.94 %
3-Yr Mean Return8.47 %
 
3-Yr Sharpe Ratio0.38
 
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 Beta0.790.76
3-Yr Alpha0.712.42
 
Investment Style Details31/03/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 55019-
Market Capitalisation% of Equity
Giant53.36
Large33.11
Medium13.52
Small0.00
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings16.031.06
Price/Book2.501.18
Price/Sales2.151.35
Price/Cash Flow10.801.09
Dividend-Yield Factor3.290.95
 
Long-Term Projected Earnings Growth8.950.95
Historical Earnings Growth12.741.77
Sales Growth-3.53-0.98
Cash-Flow Growth5.091.64
Book-Value Growth5.741.03
 
Category: Europe ex-UK Equity
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock98.240.0098.24
Bond0.000.000.00
Property0.000.000.00
Cash1.870.101.76
Other0.000.000.00
World Regions31/03/2025
 % of EquityRelative to Category
United States0.000.00
Canada0.000.00
Latin America0.00-
United Kingdom3.702.27
Eurozone72.901.10
Europe - ex Euro23.400.82
Europe - Emerging0.000.00
Africa0.00-
Middle East0.00-
Japan0.00-
Australasia0.000.00
Asia - Developed0.000.00
Asia - Emerging0.000.00
 
Category: Europe ex-UK Equity
Sector Weightings31/03/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials4.840.76
Consumer CyclicalConsumer Cyclical8.680.91
Financial ServicesFinancial Services23.411.10
Consumer DefensiveConsumer Defensive5.470.80
HealthcareHealthcare14.921.09
UtilitiesUtilities1.650.64
Communication ServicesCommunication Services3.930.96
IndustrialsIndustrials23.491.11
TechnologyTechnology13.621.22
 
Category: Europe ex-UK Equity
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings39
Total Number of Bond Holdings0
Assets in Top 10 Holdings37.68
NameSectorCountry% of Assets
SAP SE311Germany5.32
Nestle SA205Switzerland3.88
ASML Holding NV311Netherlands3.85
Zurich Insurance Group AG103Switzerland3.75
Sanofi SA206France3.72
Siemens AG310Germany3.59
Novartis AG Registered Shares206Switzerland3.49
Compagnie de Saint-Gobain SA310France3.39
Deutsche Boerse AG103Germany3.39
ING Groep NV103Netherlands3.29
 
Increase Decrease New since last portfolio
Category: Europe ex-UK Equity
 
Management
Name of CompanyScottish Widows Invst Solutions (CMIG)
Phone+44 (0)845 845 0066
Websitewww.scottishwidows.co.uk
AddressScottish Widows Investment Solutions (CMIG)
 Edinburgh   EH16 5WL
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
Inception Date01/07/2002
Fund Advisor(s)
Newton Investment Management Ltd
Fund ManagerNicholas Pope
Manager Start Date20/09/2023
Career Start Year2001
Education
Texas A&M University, B.S.
 
Biography
Mr. Pope joined Brookfield Investment Management in 2014 as a Director of the natural resources investment team. He is responsible for implementing investment strategy with a focus in energy, including upstream, downstream, chemicals and services. Prior to that, he was a Senior Analyst and Managing Director at Dahlman Rose (and upon acquisition at Cowen & Company) covering Exploration and Production sector. Before that, Mr. Pope was an Analyst at JP Morgan Chase & Co, Research Division, where he covered the U.S. based exploration and production companies. While at JP Morgan, he was also responsible for a number of in-depth research studies, including those relating to specific domestic production regions and emerging gas recovery technologies. Mr. Pope began his career in 2001 as a Senior Project Engineer at ExxonMobil Production Co. Mr. Pope was the recipient of Institutional Investor's Rising Stars of E&P Research in 2011. He earned a Bachelor of Science degree in Chemical Engineering from the Texas A&M University.
Fund ManagerJulianne McHugh
Manager Start Date20/09/2023
Career Start Year1992
Education
Lehigh University, B.S.
Massachusetts Institute of Technology (Sloan), M.B.A.
 
Biography
Julianne is a senior portfolio manager and Newton’s head of sustainable equities. As an experienced investor, she has been integral in identifying resources to support and enhance the integration of sustainability considerations into the firm’s investment practices. Julianne manages a selection of global and regional equity mandates. She is the lead portfolio manager for the BNY Mellon Large Cap Securities Fund, leveraging the global research team to deliver capital growth by investing in high quality US companies with strong positions in their industries. Julianne has led the Emerging Markets Research Fund since its inception in February 2014. She also serves as a portfolio manager for Newton’s Global Research Equity and Global First Decade Innovators strategies. Julianne joined Newton in September 2021, following the integration of Mellon Investments Corporation’s equity and multi-asset capabilities into the Newton Investment Management Group. Before joining Newton, Julianne was a senior portfolio manager and senior research analyst at Mellon Investments Corporation and The Boston Company Asset Management (both BNY Mellon group companies). Prior to joining BNY Mellon, Julianne was an equity analyst at State Street Research & Management. Julianne has a BS in Finance from Lehigh University and an MBA with a Financial Management track from MIT Sloan School of Management.
Fees and Expenses
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge
Purchase Details
Minimum Investments
Initial1000  GBP
Additional250  GBP
Savings50  GBP
Tax Free Savings Schemes
ISAsYes