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Europe funds hardest hit by Black Monday revealed

Europe funds hardest hit by Black Monday revealed

Chaos in China’s stock markets saw European markets - and funds investing in the region - suffer their worst month in some four years.

FE Trustnet found the least worst performing fund from the sector last month was Marlborough’s European Multi-Cap fund with minus 0.2 per cent for August and Invesco Perpetual’s European Opportunities trailed in second place with minus 1.01 per cent.

European shares suffered their worst August since the height of the sovereign debt crisis back in 2011.

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The FTSE Eurofirst 300 – an index of 300 leading European companies - shed 5.98 per cent in August, according to FE Trustnet data.

Germany’s DAX lost 6.65 per cent, while France’s CAC 40 suffered heavily – down 14.66 per cent.

Looking at the Investment Association’s Europe excluding UK fund sector – the fund hit the hardest in August was the Aberdeen Global European Equity Ex UK fund – which shed 6.19 per cent, FE Trustnet data shows.

The IA’s Europe ex UK sector was down 4.01 per cent last month, with all 108 funds down. Argonaut’s well-rated European Enhanced Income fund, which managed to return to beating its sector this year, also suffered – down 5.86 per cent in August.

Threadneedle’s European Select fund, headed up by well-regarded manager David Dudding, also made the top 10 funds with the worst losses in August.


 

Fund Name

August 2015

Aberdeen Global - European Equity Ex UK D2 GBP in GB

-6.19

Aberdeen - European Equity A Acc in GB

-6.14

Argonaut - FP Argonaut European Enhanced Income A Hedged Acc GBP in GB

-5.86

Scottish Widows - European Select Growth A Acc in GB

-5.82

Sanlam FOUR - Active European Ex-UK Equity C GBP in GB

-5.65

HSBC - GIF Euroland Equity AD EUR TR in GB

-5.51

Fidelity - European Acc in GB

-5.33

Legg Mason - IF Martin Currie European Equity Income A Acc in GB

-5.32

Schroder - European I Acc in GB

-5.26

Threadneedle - European Select Ret GBP in GB

-5.22

Source: FE Trustnet data, correct as of 01/09/2015

emma.hughes@ft.com