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LF Canlife European Fund

About the Fund

The LF Canlife European Fund aims to provide capital growth primarily from investment in equities quoted on European markets (usually this will exclude the United Kingdom).

Essential features of the Fund

LF Canlife European Fund

  • The Fund invests mainly in the equity of European (Nordics, Eurozone, Switzerland) listed companies and can invest in all sectors of the market
  • There is no specific target in relation to market sectors
  • Exposure is predominately in large capitalisation companies but tactically invests in small and midcap when opportunities arise
  • The target number of positions is 50-80
  • Cash typically 0-2.5% (can go to 10%)
  • The Fund can zero weight sectors or stocks where there is no conviction

For further details on the objective and investment policy, visit the Literature section to view fund KIIDs and Prospectus.

 

How the Fund is managed

 

The Fund uses a blend of top-down macro views and bottom-up stock selection to identify investment ideas in which have the highest conviction, it is flexible, pragmatic and mindful of prevailing macroeconomic and market conditions, for example; employment, inflation and gross domestic product  

  • Fundamental analysis – specific holdings are determined through research that is undertaken by the Canada Life Asset Management’s equities team, including company visits and conferences.  The choice spans a variety of industries, services and geographical locations, allowing the manager to gain targeted exposure
  • Sector selection - bottom up stock selection is a major factor in determining the shape of the overall Fund portfolio. However, sector allocations are also important in order to ensure balance and diversification. Typically, macro and market views are considered in order to balance the portfolio across factors such as growth, cyclicality and defensiveness. Additionally, the desired exposure to trends such as in bond yields and commodity prices are key considerations. This approach to portfolio construction allows us to deliver a diversified source of return from both a capital and income perspective
  • Stock selection - typically across companies of all sizes, from large well-knowns to smaller scale operations.  The stock selection process itself takes into account several factors. These include the company’s market position, quality of its brand and underlying assets, how it fits in with current market and economic trends, and the specific drivers behind earnings and dividend growth. The managers will also conduct a thorough analysis of a company’s valuation, being sure to understand its earnings forecasts and any changes to a company’s strategy or management team.  There tends to be a bias towards small and medium-sized companies that are often under researched by the wider market
Mike Willans

Mike Willans

Head of Equities

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Reno Shala

Rino Shala

Fund Manager, Equities

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Reasons to recommend

Diverse opportunities
Europe boasts a wide range of investment opportunities across compelling sectors where its companies are world leaders, such as technology, engineering and luxury goods

Unconstrained approach
To make the most of Europe’s potential, it is necessary to be unconstrained and have the freedom to invest anywhere in the region.  The Fund may not be appropriate for investors who plan to withdraw their money within 5 years

Experienced management
Mike Willans has more than 25 years’ of investment experience. He joined Canada Life Asset Management in October 1999 and was appointed Head of International Equities in March 2010. Mike heads up an experienced team that can also draw on the insights of other equity and fixed income specialists at Canada Life Asset Management. Rino joined the Canada Life Asset Management’s equities team in September 2015 and co-manages the LF Canlife UK Equity Fund and LF Canlife UK Equity Income Fund also.

The value of investments may fall as well as rise and investors may not get back the amount invested

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