Fund Overview: Allianz Continental European Fund
For
Professional
Investors
only
Q1 2017
Product Overview:
The Allianz Continental European aims to invest in
Continental Europe’s most attractive quality, structural
growth companies for the long term. The Frankfurt based 6
person team led by Thorsten Winkelmann and Marcus
Morris-Eyton, employ a disciplined, bottom up, fundamental
stock picking approach, with their primary alpha source being
single stock selection. The fund is part of the successful c.
EUR 17bn Allianz Europe Equity Growth Franchise.
3 Year Performance:
150
140
130
120
110
100
90
2014
2015
2016
2017
Allianz Continental European C Acc
IA OE Europe Excluding UK
1
Month
3
6
Months Months
1
Year
3
Years
5
Years
Fund
5.14%
9.24%
10.46%
23.92%
44.82%
87.62%
IA Sector
4.07%
6.20%
11.42%
24.20%
30.32%
82.63%
Source: Morningstar, as at 31 March 2017. Past performance is not
a reliable indicator of future results.
Investment Philosophy:
The Allianz Continental European fund seeks to invest in high
quality businesses demonstrating visible and sustainable structural
growth that is not yet reflected in the company’s stock price. We
seek to identify stocks with structurally above average earnings and
cash flow growth which the market has not yet fully anticipated.
These companies are characterized by secular growth drivers,
technological leadership and a superior business model, in order to
build competitive advantages that allow these companies to
compound their stellar returns over the long term. The portfolio is
built using a benchmark agnostic, bottom up process, typically
investing with a 3-5 year time frame.
Management Team:
Thorsten Winkelmann, Managing Director
Senior Portfolio Manager, European Equities.
Thorsten is a senior portfolio manager and
managing director with Allianz Global
Investors, which he joined in 2001. As a
member of the European Equities team, he is
Co-Leader of the Growth Investment Style
Team, which currently run in excess of EUR
20bn and the Lead Portfolio Manager of the flagship Europe Equity
Growth strategies. Prior to taking over the Europe Equity Growth
Franchise in 2009, Mr. Winkelmann was a portfolio manager with
the European Equity Core team and the Multi-Asset team, where he
was responsible for managing the equity portions of European
balanced products. He has 20 years of investment-industry
experience. Thorsten has a master’s degree in economics from the
University of Bonn.
Marcus Morris-Eyton, CFA , Vice President,
Portfolio Manager, European Equities.
Marcus Morris-Eyton is a Portfolio Manager
within the Europe Equity Growth team at
Allianz Global Investors, having joined the
firm in 2011. Prior to joining the Europe
Equity Growth team Marcus worked as a
Discretionary Sales Manager at AllianzGI in
London, and also worked at Credit Suisse in equity research. He was
named one of the Top 40 Under 40 Rising Stars in Asset
Management by Financial News in 2015. Marcus is a CFA
Charterholder, and graduated with a First Class Honors degree, in
English and philosophy from the University of Leeds.
Fund Information:
Important information
A Inc
C Inc
I Inc
ISIN
GB0031382988
GB00B3Q8YX99
GB00BYQ02F07
OCF
1.78%
0.76%
0.53%
£50
£50
£10,000,000
Minimum
Investment
Fund Size
£109mn
Benchmark
S&P Europe ex UK Large Mid Cap Growth
IA Sector
Europe excluding UK
Manager Start October 2010
All data as at 30 September 2016.
Investment Parameters:
Number of Stocks: The fund typically holds between 40-60 stocks.
Position Sizing: The largest position size has historically been
<6.5%.
Sector and country risk : The fund aims to be broadly diversified
across sectors and countries at any point of time. There is no
specific exclusion approach.
Country and sector weights are a result of our fundamental, bottom
up, stock-picking process. The fund only invests in companies from
Continental European countries.
Tracking Error Limits: There are no firm tracking error limits. The
tracking error has historically been between 3-6.
Use of Derivatives: The use of derivatives is permitted, however in
practice they are seldom used.
Cash Policy: We do not have an active cash management policy.
Our aim is to be fully invested. The permitted cash position is 0-10%
of the portfolio but in practice is usually below 2% of the fund’s
volume.
Illiquid securities: In general, it is not our policy to invest in illiquid
stocks.
Marketing Information:
Web: To find out more about the Allianz Continental
European Fund including the latest positioning and
commentary please visit
www.allianzcontinentaleuropean.co.uk
Contact: Get in touch with our sales team via e-mail at –
[email protected]
Unless stated otherwise all data as at 31 March 2017.
Investing involves risk. The value of an investment and the income
from it may fall as well as rise and investors might not get back the
full amount invested. Allianz Continental European Fund is a subfund of ALLIANZ UK & EUROPEAN INVESTMENT FUNDS, an openended investment company with variable capital with limited
liability organised under the laws of England and Wales. The
volatility of the fund unit prices may be increased or even strongly
increased. Past performance is not a reliable indicator of future
results. If the currency in which the past performance is displayed
differs from the currency of the country in which the investor
resides, then the investor should be aware that due to the
exchange rate fluctuations the performance shown may be higher
or lower if converted into the investor’s local currency. This is for
information only and not to be construed as a solicitation or an
invitation to make an offer, to conclude a contract, or to buy or sell
any securities. The products or securities described herein may not
be available for sale in all jurisdictions or to certain categories of
investors. This is for distribution only as permitted by applicable law
and in particular not available to residents and/or nationals of the
USA. The investment opportunities described herein do not take
into account the specific investment objectives, financial situation,
knowledge, experience or specific needs of any particular person
and are not guaranteed. The views and opinions expressed herein,
which are subject to change without notice, are those of the issuer
companies at the time of publication. The data used is derived
from various sources, and assumed to be correct and reliable, but it
has not been independently verified; its accuracy or completeness
is not guaranteed and no liability is assumed for any direct or
consequential losses arising from its use, unless caused by gross
negligence or wilful misconduct. The conditions of any underlying
offer or contract that may have been, or will be, made or
concluded, shall prevail. For a free copy of the sales prospectus,
incorporation documents, daily fund prices, key investor
information, latest annual and semi-annual financial reports
contact the authorised corporate director Allianz Global Investors
GmbH in the fund’s country of domicile or the issuer which is
available from www.allianzgi.com. Please read these documents,
which are solely binding, carefully before investing.
This is a marketing communication issued by Allianz Global
Investors GmbH, www.allianzgi.com, an investment company with
limited liability, incorporated in Germany, with its registered office
at Bockenheimer Landstrasse 42-44, 60323 Frankfurt/M, registered
with the local court Frankfurt/M under HRB 9340, authorised by
Bundesanstalt für Finanzdienstleistungsaufsicht (www.bafin.de).
Allianz Global Investors GmbH has established a branch in the
United Kingdom, Allianz Global Investors GmbH, UK branch, 199
Bishopsgate, London, EC2M 3TY, www.allianzglobalinvestors.co.uk,
which is subject to limited regulation by the Financial Conduct
Authority (www.fca.org.uk). Details about the extent of our
regulation by the Financial Conduct Authority are available from us
on request. The duplication, publication, or transmission of the
contents, irrespective of the form, is not permitted. 17-1623