Europe: unloved and under-owned – Paul Wild and Nico Jackson, JOHCM Continental European Fund, note that Europe is trading back at its lows versus the US on a forward P/E basis, despite share buybacks in the US having ended and serious taxation risks looming should the Democrats win November’s US elections.
Europe at the heart of the “E” of ESG – Europe’s Green Deal will advance the region towards a more circular economy. The bedrock of this programme is investment in environmental technologies, cleaner transportation, buildings efficiency, decarbonisation and industrial innovation. This drive provides exciting, structurally underpinned long-term investment opportunities.
Emerging with strength – Paul and Nico believe they are emerging from the Covid-19 crisis with a portfolio of strong companies with considerable outperformance potential.
Past performance is no guarantee of future performance. The value of investments and the income from them may go down as well as up and you may not get back your original investment. The information contained herein including any expression of opinion is for information purposes only and is given on the understanding that it is not a recommendation. The Fund’s investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.
Senior Fund Manager
Paul is Senior Fund Manager of the JOHCM Continental European Fund. Paul’s previous industry experience includes serving as a Pan-European Fund Manager at Sanwa Asset Management and a fund management role at Newton Investment Management. He began his career at Barclays Capital within their Capital Markets division. Paul is a CFA Charterholder and holds a BA (Hons) in Economics from the University of Lancaster.
14 years’ industry experience, joined Regnan in June 2020.
Tim Crockford leads the Regnan Equity Impact Solutions team. He previously managed the Hermes Impact Opportunities Equity Fund from its launch in December 2017, having co-founded the Hermes Impact team in 2016. Tim joined Hermes Investment Management in 2009 as a research analyst for the European Equities team and became lead portfolio manager of the ESG-integrated Hermes Europe ex-UK Equity Fund in 2015, which he also managed until he left Hermes.
13 years’ industry experience, joined Regnan in May 2020.
Mohsin is a fund manager dedicated to the strategy. He was previously a senior analyst on the Hermes Impact Opportunities Equity Fund, having joined Hermes in 2017. Prior to Hermes, Mohsin was an investment manager in Global Equities at Pictet Asset Management. At Pictet his experience included working on thematic equity funds including Water, Clean Energy and Agriculture.
10 years’ industry experience, joined Regnan in May 2020.
Maxime is an investment analyst dedicated to the strategy. He has a decade of experience in sustainable investment. Previously, as an investment analyst at Hermes from 2016, he participated in the design, launch and management of the Hermes Impact Opportunities Equity Fund. Prior to this he led the integration of ESG and stewardship across investment strategies.
6 years’ industry experience, joined Regnan in April 2020.
Maxine is an investment analyst dedicated to the strategy. She was previously an analyst on the Hermes Impact Opportunities Equity Fund. Maxime transferred to the Hermes Impact team in 2016, having initially joined the Hermes EOS team in 2014. She headed up the chemicals sector team, while also focusing on the financial services, industrials and technology sectors.