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Europe ex UK
WS Lightman European Fund
Managed by Lightman Investment ManagementPart of WS Lightman Investment Funds
Latest factsheet
Aug 2026
Fund size
£1.43bn
Yearly charge
0.60%
Manager fee
–
Income yield
2.67%
Holdings
43
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 | +0.84% | – | +0.87% | – |
| 1M | +0.86% | – | +0.87% | – |
| 3M | +1.33% | – | +3.06% | – |
| 3M | +1.38% | – | +3.06% | – |
| 6M | -0.14% | – | +2.45% | – |
| 6M | -0.04% | – | +2.45% | – |
| 1Y | +21.82% | – | +19.41% | – |
| 1Y | +22.06% | – | +19.41% | – |
| 3Y | +53.65% | – | +49.97% | – |
| 3Y | +54.57% | – | +49.97% | – |
| Since launch | +120.79% | – | +108.87% | – |
| Since launch | +124.12% | – | +108.87% | – |
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% | +11.31% | +11.16% |
Top holdings
| # | Holding | Weight | |
|---|---|---|---|
| 1 | Roche | 5.55% | |
| 2 | Unilever | 4.02% | |
| 3 | Shell | 4.02% | |
| 4 | Magnum Ice Cream | 3.87% | |
| 5 | TotalEnergies | 3.62% | |
| 6 | Nestle | 3.62% | |
| 7 | Deutsche Boerse | 3.49% | |
| 8 | DHL | 3.48% | |
| 9 | Orange | 3.23% | |
| 10 | Danone | 3.22% |
Portfolio breakdown
Sector
| Consumer Staples | 22.20% | |
| Industrials | 14.26% | |
| Communication Services | 12.87% | |
| Materials | 11.89% | |
| Health Care | 11.42% | |
| Financials | 10.52% | |
| Energy | 10.25% | |
| Consumer Discretionary | 4.26% | |
| Cash | 2.33% | |
| Utilities | 0.00% |
Geography
| France | 18.86% | |
| Netherlands | 16.82% | |
| Switzerland | 15.71% | |
| Germany | 14.18% | |
| Norway | 8.66% | |
| Sweden | 5.79% | |
| United States | 5.18% | |
| Denmark | 4.46% | |
| Portugal | 3.17% | |
| Ireland | 2.37% |
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 |
|---|---|---|
| Aug 2026 | View original factsheet ↗ | 13 Sept 2026 |
| Jun 2026 | View original factsheet ↗ | 22 Aug 2026 |