To provide medium to long term capital growth. Invests in shares of companies covering different sectors of the economy in Europe and which are listed on any stock exchange

Latest Fund Expense Ratio: 1.85%

Launch Date(dd/mm/yyyy): 01/12/2000

Unit Price: HKD 10.035

Fund Size: HKD 2,206.4M

European equities plunged over March, falling to the lowest level since 2013, as the continent became the epicentre of the COVID-19 pandemic. Italy was the worst affected country, followed by Spain and France, but the continent effectively went into lockdown as people were told to stay at home and not to travel unless absolutely necessary to avoid overloading already-stretched health care systems. Hotels, restaurants, bars, cafés, gyms, nightclubs, cinemas, theatres and museums were forced to close, as were non-essential retailers, while factories either shut down or switched to making much-needed hand sanitiser, face masks and ventilators. The impact of the COVID-19 pandemic started to show in economic data. The flash estimate of March’s composite Eurozone purchasing managers’ index tumbled to a record low of 34.1, compared to 51.6 in February. Manufacturing activity fell to 44.8, the lowest level since the 2008 financial crisis, while activity in the services sector slumped to 28.4, the lowest level ever recorded and almost half February’s reading of 52.6. The European Central Bank (ECB) kept rates on hold but launched an emergency EUR 750 billion bond-buying programme to ease the impact of the COVID-19 pandemic. Meanwhile, the European Union announced a EUR 37 billion support package and said it would guarantee EUR 8 billion in loans to support the corporate sector. Individual Eurozone countries also announced fiscal stimulus to shield their economies from the virus' impact.