Opportunities
SICAV
European
Opportunities SICAV
The investment objective of the European Opportunities fund is to achieve long term capital growth by exploiting special investment opportunities in Europe.
The fund invests primarily in equity and equity related securities (including listed preference shares, listed warrants and other similar securities) of issuers which have their registered office in Europe or exercise the predominant part of their economic activities in Europe (including UK) and which are considered by the Investment Manager to be undervalued or otherwise to offer good prospects for capital growth. The Investment Manager adopts a primarily bottom up approach to selecting investments for the fund.
Benchmark Index:
MSCI Europe Total Return Index in EUR (MXEU)
Legal form:
The European Opportunities sub-fund of Devon Equity funds SICAV is structured as a UCITS in Luxembourg.
Literature and Links
Fact Sheet
Monthly Data
Annual Report
Interim Report to 30 June 2023
Annual report to 31 December 2022
Annual report to 31 December 2021
Annual report to 31 December 2020
Excess reportable income for UK tax purposes in financial year ended 31 December 2022
Excess reportable income for UK tax purposes in financial year ended 31 December 2021
Notices of Shareholder Meetings
Prospectus & Key Information
FATCA & CRS
How to Invest
Next Steps to Invest
Shares will be allotted and issued on the Valuation Day and such other days as the Board may determine at the Net Asset Value per Share as of the relevant Valuation Day, provided that the Fund and/or the Administrative Agent has received an application for such Shares at the latest at 13:00 (CET) on such Valuation Day. Payment of subscription amount will be effected within three Business Days following the relevant Valuation Day. No subscription charge shall apply.
Investors are solely responsible for compliance with applicable laws and regulations of their country of citizenship and/or residence and the advice of their legal or their financial counsel should be sought prior to any investment decision.
Applications may be made either direct to the Transfer Agent, JPMorgan Bank in Luxembourg, using the application form below or via Fundsettle / Euroclear.
Money laundering and Terrorist Financing
As a consequence of the regulations regarding money laundering prevention and fight against terrorist financing, identification documentation is requested when Investors proceed with an investment.
A sub-fund of Devon Equity Funds SICAV
The following interactive data is supplied by Morningstar.
Further information
The fund will, at all times, invest and manage its assets, with the objective of spreading risk and in accordance with the following policies:
Investment Restrictions
The fund is subject to the investment restrictions applicable to UCITS funds in Luxembourg, as set out on page 31 of its prospectus.
Investment Approach
The Investment Adviser adopts a stock picking approach in the belief that a thorough analysis and understanding of a company is the best way to identify long-term superior growth prospects. This understanding begins with identifying those companies where the ownership structure and incumbent management are conducive to the realisation of the aim of achieving superior long-term earnings growth.
The Investment Adviser will seek to identify companies which enjoy certain key business characteristics including some or all of the following:
- a strong management record and team, and the confidence that the Investment Adviser has in that management’s ability to explain and account for its actions;
- proprietary technology and other factors which indicate a sustainable competitive advantage;
- a reasonable expectation that demand for their products or services will enjoy long-term growth; and
- an understanding that structural changes are likely to benefit rather than negatively impact that company’s prospects.
In analysing potential investments, the Investment Adviser will employ differing valuation techniques depending on their relevance to the business characteristics of a particular company. However, the underlying feature will be the sustainability and growth of free cashflow in the long-term.
Portfolio risk
Portfolio risk is mitigated by investment in a diversified spread of investments. The Investment Adviser is not constrained by benchmark weightings, sector, geographical location within Europe or market capitalisation or size of investee companies.
Benchmark Index
Benchmark Index:
MSCI Europe Total Return Index in EUR (MXEU)
Compliance with UCITS investment restrictions:
While Devon Equity Funds is structured as a UCITS in Luxembourg.
