FUNDS
The Montanaro European Smaller Companies Fund was launched on 8 December 2000 and is listed on the Irish Stock Exchange.
Structured as an open-ended investment company, it is a “UCITS III” Fund authorised by the Irish Financial Services Authority. It is administered by State Street International (Ireland) Limited and audited by Ernst & Young. It is approved in France, Ireland, Norway, Sweden, Switzerland, The Netherlands and the UK.
The European Fund invests in quoted European (including UK) companies with a market capitalisation below €3 billion. The investment objective is to outperform its benchmark, the Morgan Stanley Europe Small Companies Index.
Since launch the Fund is among the top performing fund within its peer group. It is AA rated by Standard & Poor's, 3-Star/AA rated by Morning Star / Lipper and rated superior by OBSR.
Shares in the European Fund are traded daily through the Administrator at Net Asset Value. The minimum subscription is £1,000.
Prices can be found on Bloomberg: MONESCF ID (GBP) MONESCE ID (EUR) MONESCU ID (USD)
ISIN (GBP Class): IE0001195316 SEDOL (GBP Class): 0119531
ISIN (EUR Class): IE00B1FZRP01 SEDOL (EURO class): B1FZRPO
ISIN (USD Class): IE00B1FZRQ18 SEDOL (USD Class): B1FZRQ1
| Yearly NAV Return | Yearly Benchmark Return | Cumulative NAV Return | Cumulative Benchmark Return | Outperformance | |
|---|---|---|---|---|---|
| 2000 | 3.0% | -1.3% | 3.0% | -1.3% | YES |
| 2001 | -6.8% | -10.1% | -4.0% | -11.2% | YES |
| 2002 | -15.1% | -22.7% | -18.9% | -31.4% | YES |
| 2003 | 24.5% | 42.0% | 0.6% | -2.6% | NO |
| 2004 | 26.8% | 20.8% | 27.4% | 17.7% | YES |
| 20059 | 36.6% | 30.0% | 73.2% | 53.0% | YES |
| 2006 | 35.0 | 25.4% | 133.9% | 91.8% | YES |
| 2007 | 3.2% | -0.5% | 141.4% | 90.9% | YES |
| 2008 | -37.1% | -39.3% | 51.7% | 15.8% | YES |
| 2009 | 38.5% | 45.0% | 113.0% | 67.9% | NO |
| 2010 (July) | 9.9% | 1.1% | 134.1% | 69.8% |
2.26
8.7%
