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Morgan Stanley Europe Opportunity Fund Inc.
EUGAX (Mutual Fund)
Morgan Stanley Europe Opportunity Fund Inc.
Name
As of 12/13/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
17.9%
1 yr return
15.4%
3 Yr Avg Return
-5.8%
5 Yr Avg Return
7.9%
Net Assets
$142 M
Holdings in Top 10
63.8%
52 WEEK LOW AND HIGH
$24.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.59%
SALES FEES
Front Load 5.25%
Deferred Load N/A
TRADING FEES
Turnover 22.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/13/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
EUGAX - Profile
Distributions
- YTD Total Return 17.9%
- 3 Yr Annualized Total Return -5.8%
- 5 Yr Annualized Total Return 7.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.92%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameMorgan Stanley Europe Opportunity Fund Inc.
-
Fund Family NameMorgan Stanley Funds
-
Inception DateAug 06, 1997
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerWendy Wang
Fund Description
Under normal market conditions, the Adviser seeks to achieve the Fund’s investment objective by investing primarily in high quality established and emerging companies located in Europe that the investment team believes are undervalued at the time of purchase.
The Adviser emphasizes a bottom-up stock selection process, seeking attractive investments on an individual company basis. In selecting securities for investment, the Adviser seeks high quality established and emerging companies that the Adviser believes are undervalued at the time of purchase. Fundamental research drives the investment process. The Adviser typically favors companies it believes have sustainable competitive advantages that can be monetized through growth. The Adviser typically focuses a significant portion of the Fund’s investments in a limited number of issuers, which may be in the same industry, sector or geographic region. The investment process integrates analysis of sustainability with respect to disruptive change, financial strength, environmental and social externalities and governance (also referred to as ESG).
The Adviser views incorporating ESG-related potential risks and opportunities within the investment process as important to ensure long-term stewardship of capital. Over extended time horizons, the Adviser believes that ESG risks are more likely to materialize and externalities not borne by the company are more likely to be priced into the value of securities. Since ESG risks could potentially impact the risk and reward profile of investment opportunities, the Adviser typically engages company management in constructive discussions on a range of ESG issues the Adviser deems materially important. The Adviser generally considers selling a portfolio holding when it determines that the holding no longer satisfies its investment criteria. Although consideration of ESG factors is incorporated into the investment process, it is only one of many tools the Adviser utilizes to make investment decisions.
The Fund will normally invest at least 80% of its assets in equity securities issued by issuers located in European countries. This policy may be changed without shareholder approval; however, you would be notified upon 60 days’ notice in writing of any changes. European countries are defined as countries included in the MSCI Europe Index. A company is considered to be located in
Europe if (i) it is organized under the laws of a European country and has a principal office in a European country; (ii) it derives at least 50% of its total revenues or profits from businesses in Europe or has at least 50% of its assets in Europe; or (iii) its equity securities are traded principally on a stock exchange in Europe.
For purposes of maintaining exposure of at least 80% of the Fund’s assets to equity securities of issuers located in Europe, the Fund may also invest in American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”) and other types of depositary receipts with respect to issuers located in Europe.
The Fund may also invest in emerging market or developing countries. The Fund invests principally in common stocks and other equity securities.
Derivative instruments used by the Fund will be counted toward the Fund’s 80% policy discussed above to the extent they have economic characteristics similar to the securities included within that policy.
The Fund may also invest in privately placed and restricted securities.
EUGAX - Performance
Return Ranking - Trailing
| Period | EUGAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 17.9% | -0.7% | 20.9% | 4.65% |
| 1 Yr | 15.4% | 1.4% | 25.2% | 4.65% |
| 3 Yr | -5.8%* | -7.4% | 8.6% | 95.29% |
| 5 Yr | 7.9%* | -0.5% | 10.3% | 22.89% |
| 10 Yr | 5.9%* | 2.1% | 9.3% | 25.00% |
* Annualized
Return Ranking - Calendar
| Period | EUGAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 22.5% | 2.0% | 24.0% | 8.14% |
| 2022 | -44.7% | -45.1% | -3.8% | 97.65% |
| 2021 | 9.0% | -8.7% | 23.4% | 77.38% |
| 2020 | 43.6% | -19.4% | 44.5% | 2.41% |
| 2019 | 22.9% | 7.4% | 44.8% | 31.71% |
Total Return Ranking - Trailing
| Period | EUGAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 17.9% | -0.7% | 20.9% | 4.65% |
| 1 Yr | 15.4% | 1.4% | 25.2% | 4.65% |
| 3 Yr | -5.8%* | -7.4% | 8.6% | 95.29% |
| 5 Yr | 7.9%* | -0.5% | 10.3% | 22.89% |
| 10 Yr | 5.9%* | 2.1% | 9.3% | 25.00% |
* Annualized
Total Return Ranking - Calendar
| Period | EUGAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 22.5% | 3.7% | 27.2% | 11.63% |
| 2022 | -44.7% | -45.1% | -0.6% | 97.65% |
| 2021 | 15.3% | -1.2% | 24.7% | 69.05% |
| 2020 | 55.1% | -19.4% | 55.6% | 2.41% |
| 2019 | 26.9% | 13.5% | 46.3% | 25.61% |
NAV & Total Return History
EUGAX - Holdings
Concentration Analysis
| EUGAX | Category Low | Category High | EUGAX % Rank | |
|---|---|---|---|---|
| Net Assets | 142 M | 5.07 M | 24.7 B | 68.97% |
| Number of Holdings | 24 | 18 | 1831 | 96.51% |
| Net Assets in Top 10 | 81.6 M | 794 K | 5.23 B | 60.47% |
| Weighting of Top 10 | 63.80% | 7.7% | 102.0% | 3.49% |
Top 10 Holdings
- DSV A/S 8.96%
- Spotify Technology SA 8.90%
- Hermes International SCA 8.69%
- Moncler SpA 8.19%
- On Holding AG 6.39%
- London Stock Exchange Group PLC 5.25%
- Schneider Electric SE 4.49%
- L'Oreal SA 4.44%
- Straumann Holding AG 4.31%
- Novo Nordisk A/S 4.18%
Asset Allocation
| Weighting | Return Low | Return High | EUGAX % Rank | |
|---|---|---|---|---|
| Stocks | 97.12% | 0.00% | 108.46% | 76.74% |
| Cash | 2.88% | 0.05% | 26.39% | 30.23% |
| Preferred Stocks | 0.00% | 0.00% | 4.56% | 52.33% |
| Other | 0.00% | -12.19% | 16.25% | 41.86% |
| Convertible Bonds | 0.00% | 0.00% | 0.81% | 23.26% |
| Bonds | 0.00% | 0.00% | 73.08% | 17.44% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | EUGAX % Rank | |
|---|---|---|---|---|
| Consumer Cyclical | 37.84% | 0.00% | 37.84% | 2.38% |
| Consumer Defense | 15.91% | 0.00% | 23.04% | 4.76% |
| Industrials | 14.32% | 2.47% | 34.57% | 69.05% |
| Technology | 14.00% | 0.00% | 27.53% | 21.43% |
| Communication Services | 9.19% | 0.00% | 10.93% | 9.52% |
| Healthcare | 8.74% | 0.00% | 28.53% | 70.24% |
| Utilities | 0.00% | 0.00% | 15.55% | 73.81% |
| Real Estate | 0.00% | 0.00% | 12.81% | 79.76% |
| Financial Services | 0.00% | 0.00% | 36.14% | 96.43% |
| Energy | 0.00% | 0.00% | 73.53% | 86.90% |
| Basic Materials | 0.00% | 0.00% | 19.84% | 95.24% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | EUGAX % Rank | |
|---|---|---|---|---|
| Non US | 79.95% | 0.00% | 106.03% | 88.37% |
| US | 17.18% | 0.00% | 101.92% | 6.98% |
EUGAX - Expenses
Operational Fees
| EUGAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.59% | 0.07% | 3.96% | 20.93% |
| Management Fee | 0.87% | 0.06% | 1.19% | 70.11% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 37.84% |
| Administrative Fee | 0.08% | 0.01% | 0.25% | 64.71% |
Sales Fees
| EUGAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.25% | 3.50% | 5.75% | 70.00% |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| EUGAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 1.00% | 28.57% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| EUGAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 22.00% | 1.68% | 184.00% | 38.46% |
EUGAX - Distributions
Dividend Yield Analysis
| EUGAX | Category Low | Category High | EUGAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 6.89% | 96.55% |
Dividend Distribution Analysis
| EUGAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| EUGAX | Category Low | Category High | EUGAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.92% | -1.72% | 4.06% | 97.67% |
Capital Gain Distribution Analysis
| EUGAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 23, 2021 | $1.794 | OrdinaryDividend |
| Dec 23, 2020 | $2.258 | OrdinaryDividend |
| Dec 23, 2019 | $0.119 | OrdinaryDividend |
| Dec 23, 2019 | $0.520 | CapitalGainLongTerm |
| Dec 21, 2018 | $0.084 | OrdinaryDividend |
| Dec 22, 2017 | $0.115 | OrdinaryDividend |
| Dec 23, 2016 | $0.360 | OrdinaryDividend |
| Dec 23, 2015 | $0.332 | OrdinaryDividend |
| Dec 23, 2014 | $0.697 | OrdinaryDividend |
| Dec 26, 2013 | $0.331 | OrdinaryDividend |
| Dec 26, 2012 | $0.363 | OrdinaryDividend |
| Dec 23, 2011 | $0.306 | OrdinaryDividend |
| Dec 27, 2010 | $0.283 | OrdinaryDividend |
| Dec 28, 2009 | $0.302 | OrdinaryDividend |
| Dec 24, 2008 | $0.731 | CapitalGainLongTerm |
| Dec 24, 2008 | $0.374 | OrdinaryDividend |
| Dec 24, 2007 | $0.630 | CapitalGainShortTerm |
| Dec 24, 2007 | $1.698 | CapitalGainLongTerm |
| Dec 24, 2007 | $0.313 | OrdinaryDividend |
| Dec 22, 2006 | $0.246 | OrdinaryDividend |
| Dec 27, 2004 | $0.112 | OrdinaryDividend |
| Dec 24, 2003 | $0.103 | OrdinaryDividend |
| Dec 22, 2001 | $0.231 | OrdinaryDividend |
| Dec 22, 2000 | $0.288 | CapitalGainShortTerm |
| Dec 22, 2000 | $2.889 | CapitalGainLongTerm |
EUGAX - Fund Manager Analysis
Managers
Wendy Wang
Start Date
Tenure
Tenure Rank
Apr 14, 2020
2.13
2.1%
Wendy Wang is an investor for the Global Opportunity team. She joined Morgan Stanley in 2012 and has been with financial industry since 2008. Prior to joining the firm, Wendy was a research associate for consumer and renewable energy sectors at CLSA and Yuanta. Previously, she was a corporate finance analyst at McKinsey & Company. Wendy received a B.B.A. in accounting and finance from the University of Hong Kong, Hong Kong and holds the Chartered Financial Analyst designation.
Kristian Heugh
Start Date
Tenure
Tenure Rank
Apr 14, 2020
2.13
2.1%
Kristian Heugh is the Head of the Global Opportunity team and leads Global and International investing for Counterpoint Global. He joined Morgan Stanley in 2001 and has been with financial industry since 2001. Previously, Kristian was a co-portfolio manager of an international equity strategy and a technology strategy while a member of the Global Research Group, working closely with the Counterpoint Global team. Prior to that, he was a technology analyst for MSIM’s Sector Rotation multi-cap growth strategies. Kristian received a B.A. in economics from Duke University and holds the Chartered Financial Analyst designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 24.59 | 7.27 | 0.64 |
