CRUX (Lux) European Special Situations Fund

CRUX (Lux) European Special Situations Fund has been managed by Richard Pease and James Milne since its launch.

Fund Policy Fund Policy
Fund Facts Fund Facts
Fund Structure Fund Structure
Fund Characteristic Fund Characteristic
Fund Literature Fund Literature

The aim: to capture growth while protecting the portfolio from potential downside the CRUX (Lux) European Special Situations Fund has a rigorous investment approach, seeking to achieve long-term capital growth by identifying and investing in the best stock ideas within its investment universe.

CRUX (Lux) European Special Situations Fund will be a close reflection of the ‘onshore’ TM CRUX European Special Situations Fund, although cash positions in the two are likely to vary due to differing flow dynamics and currency.

Fund Name	CRUX (Lux) European Special Situations Fund
Restructured	Previously CRUX European Special Situations Feeder Fund (changed 08.03.19)
Fund Manager(s)	Richard Pease & James Milne
Inception	1 June 2017
performance comparator	IA Europe (ex UK)
Status	UCITS (Luxembourg)
Pricing Frequency	Daily

CRUX (Lux) European Special Situations Fund aims to achieve long-term growth by investing in European companies in special situations (5% maximum in UK).

Alpha generation driven by bottom-up stock selection
Emphasis on active management seeking long-term capital growth
Disciplined, research-driven investment process
Not benchmarked; country weightings are a result of the fund’s investments
Low portfolio turnover

CRUX (Lux) European Special Situations Fund follows the same rigorous investment approach as the TM CRUX European Special Situations Fund, focusing on four key criteria for stock selection:

Companies that are not highly capital intensive but generate good cash flow that is either invested in the business, put to work in corporate actions such as M&A or returned to shareholders as dividends;
Companies with high barriers to entry and strong pricing power, enabling them to produce robust earnings with good growth potential;
Businesses whose management have proven track records as well as meaningful stakes in the companies they run;
Companies that have relatively conservative valuations versus their peer group.

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Fund Prices

Fund Managers

Richard Pease
Richard has over three decades of experience in the financial industry. He has managed the CESSF fund since its launch in October 2009.

James Milne
James has been co-manager of the fund since June 2015 previously assisting on the fund since launch in October 2009.

Fund Aim

The fund aims to achieve long term capital growth by investing in European (ex UK) equities of companies in special situations.

Important Information

The value of an investment and any income from it can fall as well as rise as a result of market and currency fluctuations and investors may not get back the original amount invested. CRUX funds may be higher risk than other funds and past performance is not a guide to future performance. Investments in emerging markets are higher risk and potentially more volatile than those in established markets. CRUX funds may hold a greater percentage of smaller company stocks which can be higher risk than those in larger companies. If you are unsure about the suitability of an investment please consult an authorised financial adviser.

The material within this webpage is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell investments. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. Any views are those of CRUX as at issue, unless stated otherwise, and we do not undertake to advise you as to any change of our views. Forecasts/ estimates are not a reliable indicator of future performance. All information is given in good faith but without any warranty. CRUX does not give investment advice and only provides information on CRUX products.

Further risk information can be found in the Prospectus/Key Investor Information Document which should be read carefully prior to investing and can be obtained by calling 0345 113 6965 or downloaded from the Literature page.

This website is intended for those who access it from within the United Kingdom. If you are accessing the website outside the United Kingdom, your local legislation may not permit us to offer products for you in your own country. If you choose to access the website from a jurisdiction other than the United Kingdom you do so at your own risk and CRUX will not be liable for any breach of local law or regulation that you commit as a result of doing so. None of our products are available to residents of the United States of America, residents within an area subject to its jurisdictions or United States Persons.

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Consistency - that's the CRUX ★ ASSET MANAGEMENT

CRUX (Lux) European Special Situations Fund

Fund Prices

Fund Managers

Fund Aim

Important Information

Consistency - that's the
CRUX ★ ASSET MANAGEMENT