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How Henderson's AAA-rated Beckett is playing Europe 'getting less bad'

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by Sarah Miloudi on Aug 21, 2013 at 11:58

How Henderson's AAA-rated Beckett is playing Europe 'getting less bad'

Ollie Beckett, manager of Henderson's TR European Growth Trust, is playing the single currency zone 'getting less bad' by buying domestically-focused stocks.

Europe has emerged as a key allocation for investors in recent months, with a feeling that the Continent has finally turned a corner after struggling under its heavy debt burden for more than three years.

Beckett told Wealth Manager that rather than taking a cautious approach to Europe bets, investors should back domestic stocks that offer the potential for high growth or value.

'The economic data out of Europe is suggesting things aren't quite as bad as they were.  We're still in contraction phase, though there are areas of Europe which are growing, but things are getting less bad.

'In my portfolio at the moment is very high structural growth companies, companies doing things like online luxury retail, or online payment processing,' Beckett said.

In this video Beckett outlines more of the stocks he is backing as well as the sectors he is shunning, and why.

Despite Europe's struggles, Beckett has grown his £265 million trust's share price and net asset value (NAV) over one and three years.

Over the past 12 months its share price has increased by 53.8%, and its NAV by 46%.  Over three years these have climbed by 35% and 34.3%, respectively, though the trust trades at a 15.7% discount.

Beckett, a highly respected smaller companies stock picker, is rated AAA by Citywire, a badge of recognition he earned for his performance running open-ended funds like the Henderson Gartmore Pan European Smaller Companies fund.

Within the Europe Equity Small/Mid Cap peer group he has delivered total returns of 49.2%, versus 35.9% by his typical rival in the sector.

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