close

I confirm that I am a financial adviser (Professional Client) and that I agree to and will comply with the Terms and Conditions of this site

close

I confirm that I agree to and will comply with the Terms and Conditions of this site

close

I confirm that I am an institutional investor (Professional Client) and that I agree to and will comply with the Terms and Conditions of this site

Invesco Pan European Equity Fund

January 2015 (Content as at 31 December 2014)

Introduction

Overview

Objective

The Fund aims to provide long-term capital growth by investing in a portfolio of equity or equity related instruments of European companies with an emphasis on larger companies. For the full objectives and investment policy please consult the current prospectus.

Invesco Perpetual European Equities market update

Video

11 March 2015

Jeff Taylor, Head of European Equities, Invesco Perpetual and Stephanie Butcher, European Equities Fund Manager, Invesco Perpetual

From the European Central Bank’s large-scale quantitative easing program announcement, to the latest Greek elections, it has been a very busy start to the year for European equity markets. In this interview, Jeff Taylor, Head of European Equities, and Stephanie Butcher, European Equities Fund Manager, outline their views on investment prospects within Europe.

Market commentary

European equity markets started and ended Q4 2014 at comparable levels, but witnessed a fair amount of variability in between. Stock markets in Europe saw a sharp correction in early October, largely driven by some softer economic readings, especially from Germany. Markets rebounded in November registering their best performance since February 2014. But the rally was halted by the large drop in oil prices, with crude futures reaching levels not seen since mid-2009. Despite that, European equity markets stood positive for 2014. On the macroeconomic front, eurozone Q3 GDP figures released in November indicated a 0.2% growth, versus expectations of 0.1%. Low inflation continued to characterize the eurozone economy, fuelling speculations about a sovereign quantitative easing program. Meanwhile, money supply in Europe maintained its healthy expansion, and the euro continued its decline compared to the US dollar, delivering a potential tailwind for European earnings. These, in our view, are important positive developments for the European economy going forward. Accordingly, we increased the fund’s exposure to the industrials sector in Q4 2014, in anticipation of an expected earnings growth. We also raised the fund’s weighting in telecommunication services encouraged by industry consolidation trends. Meanwhile, we reduced the fund’s exposure to consumer staples, which remained the biggest underweight sector relative to the MSCI Europe Index.

Month end prices
A-AD shares 15.98 EUR
A-Acc shares 17.71 EUR
C-AD shares 16.98 EUR
C-Acc shares 19.23 EUR
Key facts
Product type Offshore Fund
Launch date 02 January 1991
Fund size €3,767.94m
Available in an ISA? No

Fund manager

Martin Walker

Title: Fund Manager
Team: Invesco Perpetual - UK Equities

John Surplice

Title: Fund Manager
Team: Invesco Perpetual - European Equities
Fund details
Fund currency EUR
Trading frequency Daily
Accounting period ends 28 February
Share types
SEDOL ISIN
A-AD B1L0KT4 LU0267985231
A-Acc 4488000 LU0028118809
C-AD B1KZLD1 LU0267984853
C-Acc 5745410 LU0100598282
Investment levels

Fund and manager ratings

The Invesco Pan European Equity Fund has the following awards and ratings:

Morningstar: N/A

Performance

Holdings

Top 10 holdings (%)

Fund
Novartis 4.83
Novartis 4.74
Novartis 4.61
Novartis 4.21
Novartis 3.88
Novartis 3.86
Roche 3.31
Roche 3.27
Roche 3.22
Roche 2.94

 

Breakdown by country of investment

Chart | Table

Region Fund
Italy 2.89
Luxembourg N/A
Luxembourg N/A
Luxembourg N/A
Luxembourg N/A
Luxembourg N/A
Luxembourg N/A
Norway N/A
Norway N/A
Norway 0.53
Norway 1.06
Norway 1.30
Norway 1.39
India N/A
India N/A
India N/A
Ireland 2.71
Ireland 6.10
Ireland 2.95
Ireland 2.98
Belgium 0.97
Belgium 1.86
Belgium 1.01
Belgium 1.03
Belgium 0.98
Belgium 0.84
Finland 5.36
Finland 2.68
Finland 2.42
Finland 2.56
Finland 2.61
France 12.54
France 24.44
Austria N/A
Austria N/A
Austria N/A
Austria N/A
Austria N/A
Austria N/A
Sweden 9.00
Sweden 3.91
Sweden 3.46
Sweden 3.71
Sweden 3.34
Switzerland 12.22
Netherlands 8.23
Netherlands 17.48
Netherlands 8.93
Netherlands 8.61
Netherlands 8.63
Netherlands 8.17
Mali N/A
Mali N/A
Mali N/A
Mali N/A
Mali N/A
Mali N/A
Denmark N/A
Denmark N/A
Denmark N/A
Denmark N/A
Denmark N/A
Denmark N/A
Finland 2.65
USA N/A
USA N/A
USA N/A
USA N/A
UK 34.82
UK 69.60
UK 34.72
France 11.35
France 10.93
France 11.03
France 11.13
Germany 6.27
Germany 12.47
Germany 6.74
Switzerland 24.19
Switzerland 12.45
Switzerland 13.14
Switzerland 12.96
Switzerland 12.71
USA N/A
USA N/A
Hong Kong N/A
Hong Kong N/A
Hong Kong N/A
Hong Kong N/A
India N/A
India N/A
India N/A
Ireland 3.26
Ireland 3.19
Italy 3.03
Italy 6.18
Italy 3.13
Italy 3.00
Italy 2.78
Spain 9.58
Spain 18.83
Spain 9.42
Spain 9.46
Spain 8.71
Spain 9.01
Sweden 4.61
GREECE N/A
GREECE N/A
GREECE N/A
GREECE N/A
GREECE N/A
GREECE N/A
Hong Kong N/A
Hong Kong N/A
Mexico N/A
Mexico N/A
Mexico N/A
Mexico N/A
Mexico N/A
Mexico N/A
Cash 2.38
UK 34.32
UK 35.31
UK 34.70
Cash 1.13
Cash 1.83
Cash 0.88
Cash 2.28
Cash 1.04
Portugal 1.24
Portugal 2.67
Portugal 1.30
Portugal 1.32
Portugal 1.31
Portugal 1.33
Germany 6.00
Germany 6.42
Germany 6.32

Breakdown by sector

Chart | Table

Sector Fund
Financials 26.83
Financials 26.52
Financials 25.48
Financials 24.50
Financials 23.83
Financials 23.80
Financials 23.43
Industrials 21.30
Industrials 20.72
Industrials 19.92
Industrials 19.37
Industrials 19.29
Industrials 19.23
Industrials 19.06
Consumer Discretionary 13.30
Consumer Discretionary 13.18
Consumer Discretionary 12.88
Consumer Discretionary 12.37
Consumer Discretionary 11.89
Consumer Discretionary 11.64
Health Care 11.48
Consumer Discretionary 11.47
Health Care 11.02
Health Care 10.89
Health Care 10.70
Health Care 9.81
Energy 9.24
Energy 8.98
Energy 8.97
Energy 8.82
Energy 8.80
Health Care 8.76
Energy 8.48
Health Care 8.44
Materials 7.79
Materials 7.56
Energy 7.50
Materials 7.31
Materials 7.31
Materials 7.17
Materials 6.94
Materials 6.10
Telecom. Serv. 5.90
Consumer Staples 5.80
Consumer Staples 5.67
Consumer Staples 5.28
Consumer Staples 5.20
Others 5.20
Information Technology 4.83
Information Technology 4.79
Information Technology 4.74
Consumer Staples 4.72
Information Technology 4.70
Information Technology 4.65
Information Technology 4.63
Consumer Staples 4.25
Telecommunication Services 3.79
Telecommunication Services 3.36
Telecommunication Services 3.19
Telecommunication Services 3.18
Telecommunication Services 3.11
Consumer Staples 3.09
Telecommunication Services 3.08
Utilities 2.94
Utilities 2.88
Utilities 2.81
Utilities 2.47
Cash 2.38
Cash 2.28
Utilities 2.15
Utilities 1.86
Cash 1.13
Cash 1.04
Cash 1.00
Cash 0.91
Cash 0.88

Literature

Factsheets

Invesco Pan European Equity Fund - Z (USD)-AD Shares Factsheet  (1001 KB)

KIIDs

Invesco Pan European Equity Fund - A Shares (Acc) KIID  (193 KB)

Invesco Pan European Equity Fund - A Shares (Dist) KIID  (193 KB)

Invesco Pan European Equity Fund - A-USD Shares (Dist) KIID  (193 KB)

Invesco Pan European Equity Fund - B Shares KIID  (198 KB)

Invesco Pan European Equity Fund - C Shares (Dist) KIID  (193 KB)

Invesco Pan European Equity Fund - C Shares KIID  (193 KB)

Invesco Pan European Equity Fund - E Shares KIID  (192 KB)

Invesco Pan European Equity Fund - I Shares KIID  (192 KB)

Invesco Pan European Equity Fund - R Shares (Acc) KIID  (191 KB)

Invesco Pan European Equity Fund - Z-AD (USD) Shares KIID  (192 KB)

Application form

Application form (SID) Offshore Funds - for Individuals  (305 KB)

Application form (SID) Offshore Funds - for Legal Entities  (308 KB)

Financial reports

Invesco Funds Annual Report  (1 MB)

Prospectus

Invesco Funds SICAV United Kingdom Country Supplement  (1 MB)

Monthly Market Roundup – covering March 2015

Monthly Market Round-up

08 April 2015

Invesco Perpetual

Our review of global markets and events over the month of March

Invesco Perpetual European Equities market update

Video

11 March 2015

Jeff Taylor, Head of European Equities, Invesco Perpetual and Stephanie Butcher, European Equities Fund Manager, Invesco Perpetual

From the European Central Bank’s large-scale quantitative easing program announcement, to the latest Greek elections, it has been a very busy start to the year for European equity markets. In this interview, Jeff Taylor, Head of European Equities, and Stephanie Butcher, European Equities Fund Manager, outline their views on investment prospects within Europe.

The Bank of England’s role in helping UK growth

Article

23 March 2015

Martin Walker, UK equities Fund Manager, Invesco Perpetual

Martin Walker explains how the Bank of England’s asset purchase programme has helped to boost UK growth

S&P rating report

Invesco Pan European Equity Fund