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Europe ex UK
WS Lightman European Fund
Managed by Lightman Investment ManagementPart of WS Lightman Investment Funds
Latest factsheet
Jun 2026
Fund size
£1.42bn
Yearly charge
0.60%
Manager fee
–
Income yield
2.67%
Holdings
44
Launched
29 Mar 2019
The objective of the fund is to provide long term (in excess of five years) capital growth. The fund will invest at least 80% of its assets directly in the shares of companies listed and domiciled in Europe (excluding the UK). The fund will have a concentrated portfolio of approximately 40-50 holdings, selected at the manager’s discretion. The investment manager seeks to invest in undervalued companies with positive operational momentum.
Rob Burnett (Fund Manager) · George Boyd-Bowman (Fund Manager)
Cumulative performance
| Period | Fund | Sector average | Benchmark | vs sector |
|---|---|---|---|---|
| 1M | -1.98% | – | +3.01% | – |
| 1M | -1.96% | – | +3.01% | – |
| 3M | +0.22% | – | +12.28% | – |
| 3M | +0.27% | – | +12.28% | – |
| 6M | +7.53% | – | +9.71% | – |
| 6M | +7.64% | – | +9.71% | – |
| 1Y | +24.34% | – | +21.98% | – |
| 1Y | +24.59% | – | +21.98% | – |
| 3Y | +50.51% | – | +48.71% | – |
| 3Y | +51.43% | – | +48.71% | – |
| Since launch | +113.58% | – | +108.75% | – |
| Since launch | +116.74% | – | +108.75% | – |
Calendar-year performance
| 2021 | 2021 | 2022 | 2022 | 2023 | 2023 | 2024 | 2024 | 2025 | 2025 | 2026 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| +16.97% | +17.20% | +11.21% | +11.00% | +3.37% | +3.17% | +0.25% | +0.45% | +31.41% | +31.67% | +7.64% | +7.53% |
Top holdings
| # | Holding | Weight | |
|---|---|---|---|
| 1 | Roche | 5.36% | |
| 2 | Unilever | 3.94% | |
| 3 | Orange | 3.69% | |
| 4 | Danone | 3.67% | |
| 5 | Nestle | 3.56% | |
| 6 | Shell | 3.55% | |
| 7 | Magnum Ice Cream | 3.50% | |
| 8 | KPN | 3.47% | |
| 9 | TotalEnergies | 3.35% | |
| 10 | DHL | 3.33% |
Portfolio breakdown
Sector
| Consumer Staples | 22.00% | |
| Communication Services | 14.08% | |
| Industrials | 13.74% | |
| Health Care | 11.10% | |
| Materials | 9.88% | |
| Financials | 9.71% | |
| Energy | 9.65% | |
| Cash | 6.13% | |
| Consumer Discretionary | 3.70% | |
| Utilities | 0.00% |
Geography
| France | 19.58% | |
| Netherlands | 16.44% | |
| Switzerland | 15.39% | |
| Germany | 11.75% | |
| Norway | 5.97% | |
| Sweden | 5.61% | |
| United States | 4.52% | |
| Denmark | 4.03% | |
| Portugal | 2.97% | |
| Ireland | 2.81% |
Share classes
| Class | ISIN | SEDOL | Type | Hedged | Manager fee | Yearly charge | Minimum |
|---|---|---|---|---|---|---|---|
| Institutional (Acc) | GB00BGPFJM62 | BGPFJM6 | acc | – | – | 0.60% | £1k |
| Institutional (Inc) | GB00BJCWFY55 | BJCWFY5 | inc | – | – | 0.60% | £1k |
| Retail (Acc) | GB00BGPFJN79 | BGPFJN7 | acc | – | – | 0.80% | £1k |
| Retail (Inc) | GB00BJCWFZ62 | BJCWFZ6 | inc | – | – | 0.80% | £1k |
Source factsheets
| Month | Published by the manager | Read on |
|---|---|---|
| Jun 2026 | View original factsheet ↗ | 22 Aug 2026 |