HEAD-TO-HEAD: Invesco vs Jupiter
By Francis Nikolai Acosta, 26 Oct 18
FSA compares the Invesco Pan European Structured Equity Fund and the Jupiter European Opportunities Fund.
Mathieu Caquineau, Morningstar
European equity funds have not received strong inflows in 2018, according to Mathieu Caquineau, senior analyst for manager research at Morningstar.
“Year-to-date, it has been a choppy market with a lot of political noise around Italy,” he told FSA, referring to the Italian budget proposal, which clashes with EU expectations.
Additionally, the UK has been publicly struggling to hammer out a Brexit deal that is amenable to both sides, creating negative sentiment among investors.
Like global markets, the European market is down year-to-date, with the MSCI Europe Index in negative territory (-5.70%), according to data from FE Analytics.
European equities also had the second lowest ranking in terms of forward-looking sentiment, after the US, among fund selectors in Asia, according to data from Fund Selector Asia’s Asset Class Research.
Only 9% of fund selectors surveyed indicated that they will be increasing allocation to the asset class in the next 12 months, while 22% are expecting to reduce their holdings in European equities.
Against this backdrop, FSA asked Caquineau to look at two Europe (plus UK) equity funds: the Invesco Pan European Structured Equity Fund and the Jupiter European Opportunities Fund.\
Michael Fraikin and Thorsten Paarmann
Cédric De Fonclare
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