TM CRUX European Special Situations Fund

TM CRUX European Special Situations Fund has been managed by Richard Pease and James Milne since the launch of the fund in October 2009.

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

The Fund aims to achieve its objective primarily through investment in equity securities of European companies in special situations where it is believed the company is considered undervalued. The Fund’s portfolio will be managed on a concentrated basis. The Fund will be able to invest without restriction by market cap or sector. The Fund may also invest in other transferable securities money market instruments, cash and near cash and deposits.

Fund Name	TM CRUX European Special Situations Fund
Fund Manager(s)	Richard Pease & James Milne
Inception	1 October 2009 (restructured TM CRUX European Special Situations Fund on 8 June 2015)
Performance Comparator	IA Europe (ex UK)
Status	UCITS (UK)
Pricing Frequency	Daily
Minimum Investment	Initial £1,000
Monthly Savings	£100 Minimum

More Facts

Investors should note that while the investment objective of the Fund is to achieve long term capital growth there may be situations in which an income return is also achieved.

The TM CRUX European Special Situations Fund typically is more concentrated than the average OEIC sub-fund. Whilst increasing the potential reward, the nature of this funds can increase risk. As such, the returns may be more volatile and will be impacted more by fluctuations in the value of underlying stock.

Derivative transactions may be used for the purposes of meeting the investment objective of the Fund as well as for hedging purposes, although it is not anticipated that the Fund will use this power to enter into derivatives at present.

The TM CRUX European Special Situations Fund a rigorous investment approach, 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.

Fund Prices

Fund Objective

The investment objective of the Fund is to achieve long term capital growth by investing in European (excluding the UK) equities of companies in special situations.

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.

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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Who's in the driving seat - that's the CRUX ★ ASSET MANAGEMENT

TM CRUX European Special Situations Fund

Fund Prices

Fund Objective

Fund Managers

Important Information

Who's in the driving seat - that's the
CRUX ★ ASSET MANAGEMENT