Aberdeen leads European fund underperformance

Aberdeen Asset Management’s European Equity fund leads the worst-performing funds investing in Europe in August, as the sector was hit by the China fallout.

The Aberdeen Global European Equity and European Equity funds led the list of the worst performing funds, returning a 6.19 per cent loss and a 6.14 per cent loss for the month respectively, according to FE data. The global fund is a Luxemberg-domiciled version of the onshore fund, run by the same team and with the same investing style.

Across the Investment Association’s Europe ex-UK sector all funds returned losses for the month, with the average being a 4.01 per cent fall.

The drops in performance came as fears about market falls in China spread to the rest of the world, hitting indices across Europe. 

Over the month the FTSE Eurofirst 300 lost 5.98 per cent, the German DAX lost 6.65 per cent, and France’s CAC 40 was down 14.66 per cent. 

“European shares suffered their worst August since the height of the sovereign debt crisis back in 2011. Investor sentiment was gripped last month over concerns that China’s role as world economic growth driver is fast coming to an end,” says FE.

Also appearing on the worst performing funds list was the Threadneedle European Select fund, run by well-known manager David Dudding. 

The best performing fund for the Europe ex-UK sector last month was the Marlborough European Multi-Cap fund, which lost 0.2 per cent, followed by Invesco Perpetual’s European Opportunities fund, which made a 1.01 per cent loss.

Fund Name

August 1 to August 31 2015

Aberdeen Global – European Equity

-6.19

Aberdeen – European Equity 

-6.14

Argonaut – FP Argonaut European Enhanced Income 

-5.86

Scottish Widows – European Select Growth 

-5.82

Sanlam FOUR – Active European Ex-UK Equity

-5.65

HSBC – GIF Euroland Equity

-5.51

Fidelity – European 

-5.33

Legg Mason – IF Martin Currie European Equity Income

-5.32

Schroder – European

-5.26

Threadneedle – European Select

-5.22

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