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European equity: funds with the biggest outflows in Q1

With the clouds of Brexit and slow growth hanging over Europe, these five equity funds registered for sale in Asia and the Middle East lost the most money in the first quarter

5. BGF European Value

The BGF European Value A2 EUR fund was in the fifth place, with outflows of £285.89 million ($362.69 million) in the first quarter ending 31 March.

Run by Brian Hall, the strategy has returned -5% in euro terms over the past three years ending 31 May, data from Citywire Discovery showed.

Launched in January 1997, the $1.5 billion fund invests at least 70% of its total assets in the shares of companies domiciled in, or the main business of which is in, Europe. The portfolio focuses on undervalued firms, and its top three holdings  were Sanofi, Total and Allianz at the end of April.

5. BGF European Value

The BGF European Value A2 EUR fund was in the fifth place, with outflows of £285.89 million ($362.69 million) in the first quarter ending 31 March.

Run by Brian Hall, the strategy has returned -5% in euro terms over the past three years ending 31 May, data from Citywire Discovery showed.

Launched in January 1997, the $1.5 billion fund invests at least 70% of its total assets in the shares of companies domiciled in, or the main business of which is in, Europe. The portfolio focuses on undervalued firms, and its top three holdings  were Sanofi, Total and Allianz at the end of April.

4. Invesco Pan European Equity

The Invesco Pan European Equity A Acc EUR fund came in fourth, posting outflows of £288.01 million ($365.3 million) in the first three months of the year.

The $2.5 billion strategy is run by John Surplice (pictured) and Martin Walker. It has returned 3.3% in euro terms over the past three years.

Launched in January 1991, the fund focus on equities and equity-related instruments issued by European companies, with an emphasis on larger businesses. As of end-April, the top three holdings were BP, Roche and Royal Dutch Shell.

3. JPM Europe Equity Plus

In the third place is the JPM Europe Equity Plus A (perf) Acc EUR fund. The strategy saw negative asset flows of £388.07 million ($492.2 million) between January and March.

The portfolio is managed by Michael Barakos (pictured), + rated Nicholas Horne and Ben Stapley. It has returned 10.4% in euro terms in the past three years.

Launched in June 2007, the $2.8 billion vehicle uses behavioural finance to make investments, targeting style characteristics such as value, quality and momentum. It uses a bottom-up investment approach, and its top three holdings in April were Nestle, Royal Dutch Shell and Roche.

2. Allianz Europe Equity Growth

Ranking second, the Allianz Europe Equity Growth - AT – EUR fund saw outflows of £488.06 million ($619.14 million) in the first quarter.

Run by Thorsten Winkelmann, the strategy returned 11.1% in euro terms over the past three years.

Launched in October 2006, the $7.4 billion fund invests in growth stocks in Europe, with 23% of the portfolio allocated to the UK as of end-April. The fund’s top three holdings were SAP SE, Infineon Technologies and Novo Nordisk.

1. Invesco Pan European Structured Equity

The European equity fund witnessing the biggest outflows was the Invesco Pan European Structured Eq A Acc EUR fund. The vehicle lost £492.71 million ($625 million) in the first quarter.

Michael Fraikin (pictured) and Thorsten Paarmaan are the portfolio managers. The $4.9 billion fund returned 6.1% in euro terms over the past three years.

The strategy, launched in November 2000, has at least two-thirds of the total assets invested in equities of companies with a registered office in Europe, or with business activities predominantly in the region. In April, the top holdings were Unilever, Nestle and Wolters Kluwer.

Related Fund Managers

Michael Barakos
Michael Barakos
4/9 in Equity - Europe Income (Performance over 1 year) Average Total Return: -1.73%
Brian Hall
Brian Hall
28/33 in Equity - Europe (Performance over 3 years) Average Total Return: 7.49%
Martin Walker
Martin Walker
21/33 in Equity - Europe (Performance over 3 years) Average Total Return: 12.58%
John Surplice
John Surplice
22/33 in Equity - Europe (Performance over 3 years) Average Total Return: 12.58%
Thorsten Winkelmann
Thorsten Winkelmann
21/46 in Equity - Europe (Performance over 1 year) Average Total Return: -5.52%
Michael Fraikin
Michael Fraikin
27/33 in Equity - Europe (Performance over 3 years) Average Total Return: 7.79%
Thorsten Paarmann
Thorsten Paarmann
24/33 in Equity - Europe (Performance over 3 years) Average Total Return: 9.79%
Ben Stapley
Ben Stapley
Nicholas Horne
Nicholas Horne