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ii ACE 30 - EdenTree Amity European Fund

Ethical investing

ii ACE 30 investments:
EdenTree Amity European Fund

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Asset Group Asset Sub-Group Investment Category
Equities European equities Income
 

WHY WE RECOMMEND IT

Experienced manager: Chris Hiorns, senior fund manager as EdenTree, has managed the fund since March 2007. He was joined by co-manager David Osfield in September 2016.

Respectable performance with income focus: Over the long term the fund has bettered the performance of the average fund in the Investment Association’s Europe ex-UK sector and its benchmark, the FTSE World Europe ex UK index. However, over the medium term, the fund has slightly underperformed the sector and the index.

The fund is reasonably priced: The ‘B’ income share class levies annual ongoing charges of 0.81% as at 30 June 2019.

 

ETHICAL CRITERIA

ii ACE ethical style: Considers. This means the fund carefully considers an often wide range of ethical and/ or environmental, social and governance (ESG) issues or themes when balancing positive and negative factors.

Fund EcoMarket category: Ethically Balanced. These funds combine a wide range of, sometimes complex, positive and negative ethical screening policies as part of their investment strategies and may apply ‘best in sector’ strategies – which means they may invest in most sectors.

How the fund is managed: The fund seeks to achieve long-term capital growth with a reasonable level of income primarily through a diversified portfolio of European companies that make a positive contribution to society and the environment through sustainable and socially responsible practices. It will also avoid companies which have a material involvement in alcohol, tobacco and weapon production, gambling and publication of violent or explicit materials.

 

THE RISKS

Ethical screening: The investment trust has a large proportion of assets under management in entities that are not listed on public exchanges.

Currency: Your investment may be significantly affected by changes in currency exchange rates.

Portfolio concentration: The fund has a concentrated portfolio compared with its benchmark, the FTSE World Europe ex UK index. As at 30 June 2019 it was invested in 52 stocks and the top 10 stocks represented 26% of assets under management.

 
Information and data compiled in September 2019.

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Risk warnings

The information we provide in the ACE 30 investments list does not constitute a "personal recommendation". You should ensure that any investment decisions you make are suitable for your personal circumstances and that the ethical style of the investment reflects your personal beliefs.

Past performance of the underlying constituents is not a guarantee of future performance. Remember, the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest.

Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab.

If you are unsure about the suitability of a particular investment or think that you need a personal recommendation, you should speak to a suitably qualified financial advisor.

Any changes to the ii ACE 30 investments list and the rationale behind those decisions will be communicated through the Quarterly Investment Outlook.

Details of all recommendations issued by ii during the previous 12 month period can be found here.

ii adheres to a strict code of conduct. Members of ii staff may hold shares in companies mentioned in the ii ACE 30 investments list, which could create a conflict of interest. Any member of staff intending to complete some research about any financial instrument in which they have an interest are required to disclose such interest to ii. We will at all times consider whether such interest impairs the objectivity of the recommendation.

In addition, staff involved in the production of this ii ACE 30 list are subject to a personal account dealing restriction. This prevents them from placing a transaction in the specified instrument(s) for five working days before and after an investment is included or amended and made public within the list. This is to avoid personal interests conflicting with the interests of the recipients of this ii ACE 30 investments list.