Montanaro European Smaller Companies Fund
The Fund aims to achieve capital growth in excess of the MSCI Europe Small Cap Index by investing in European and UK smaller quoted companies, with a particular focus on those with a market capitalisation below that of the largest company in the benchmark index.
The full investment objective and policy for the Fund is stated in the Fund’s prospectus.
The Fund is classified as Article 8 for the purpose of SFDR.

Why invest in European SmallCap?
We believe that every investment portfolio should have some exposure to SmallCap, primarily owing to:
- The ‘SmallCap Effect’ – the proven long-term outperformance of smaller companies versus their LargeCap peers*
- A wealth of choice, with more than 2,300 SmallCap companies in Europe
- Under-researched, making for an inefficient market ripe with opportunity for those who invest in thorough analysis
- Portfolio diversification - helping to lower portfolio risk
*Source: see research from Dimson & Marsh
How we invest
Our investment process has remained unchanged for many years:
- We invest exclusively in “Quality Growth” companies
- We generate new ideas ourselves (no brokers)
- We do thorough research ourselves, which includes detailed analysis and company site visits
- We integrate ESG fully into company analysis
- We take a conservative approach to valuation
How to invest
The Fund is available through various platforms:
- Aegon
- Allfunds
- AJ Bell
- Aviva
- Barclays
- FE Direct
- FNZ Wealth
- Hargreaves Lansdown
- Interactive Investor
- MFEX
- Pershing Nexus
- SEB
- Transact
Alternatively, find out about the other ways of accessing the Fund.
Fund documents
Factsheets
- February 2021 - GBP
- February 2021 - EUR
- February 2021 - EUR (FR)
- January 2021 - GBP
- January 2021 - EUR
- January 2021 - EUR (FR)
- December 2020 - GBP
- December 2020 - EUR
- December 2020 - EUR (FR)
- November 2020 - GBP
- November 2020 - EUR
- November 2020 - EUR (FR)
- October 2020 - GBP
- October 2020 - EUR
- October 2020 - EUR (FR)
- September 2020 - GBP
- September 2020 - EUR
- September 2020 - EUR (FR)
- August 2020 - GBP
- August 2020 - EUR
- August 2020 - EUR (FR)
- July 2020 - GBP
- July 2020 - EUR
- July 2020 - EUR (FR)
- June 2020 - GBP
- June 2020 - EUR
- June 2020 - EUR (FR)
- May 2020 - GBP
- May 2020 - EUR
- May 2020 - EUR (FR)
- April 2020 - GBP
- April 2020 - EUR
- April 2020 - EUR (FR)
- March 2020 - GBP
- March 2020 - EUR
- March 2020 - EUR (FR)
- February 2020 - GBP
- February 2020 - EUR
- February 2020 - EUR (FR)
- January 2020 - GBP
- January 2020 - EUR
- January 2020 - EUR (FR)
- December 2019 - GBP
- December 2019 - EUR
- December 2019 - EUR (FR)
- November 2019 - GBP
- November 2019 - EUR
- November 2019 - EUR (FR)
- October 2019 - GBP
- October 2019 - EUR
- October 2019 - EUR (FR)
- September 2019 - GBP
- September 2019 - EUR
- September 2019 - EUR (FR)
- August 2019 - GBP
- August 2019 - EUR
- August 2019 - EUR (FR)
- July 2019 - GBP
- July 2019 - EUR (FR)
- June 2019 - GBP
- June 2019 - EUR
- June 2019 - EUR (FR)
- May 2019 - GBP
- May 2019 - EUR
- May 2019 - EUR (FR)
- April 2019 - GBP
- April 2019 - EUR
- April 2019 - EUR (FR)
KIIDs
- KIID - EUR Accumulation (EN) February 18, 2021
- KIID - EUR Accumulation (IS) February 18, 2021
- KIID - EUR Accumulation (DE) February 18, 2021
- KIID - EUR Accumulation (SE) February 18, 2021
- KIID - EUR Accumulation (CH) February 18, 2021
- KIID - EUR Accumulation (FR) February 18, 2021
- KIID - EUR Accumulation (NL) February 18, 2021
- KIID - EUR Accumulation (ES) February 18, 2021
- KIID - EUR (EN) February 18, 2021
- KIID - EUR (IS) February 18, 2021
- KIID - EUR (CH) February 18, 2021
- KIID - EUR (SE) February 18, 2021
- KIID - EUR (DE) February 18, 2021
- KIID - EUR (FR) February 18, 2021
- KIID - EUR (NL) February 18, 2021
- KIID - EUR (ES) February 18, 2021
- KIID - EUR (IT) February 18, 2021
- KIID - EUR Institutional Accumulation (EN) February 18, 2021
- KIID - EUR Institutional Accumulation (CH) February 18, 2021
- KIID - EUR Institutional Accumulation (NL) February 18, 2021
- KIID - EUR Institutional Distribution (EN) February 18, 2021
- KIID - EUR Institutional Distribution (IS) February 18, 2021
- KIID - EUR Institutional Distribution (CH) February 18, 2021
- KIID - EUR Institutional Distribution (SE) February 18, 2021
- KIID - EUR Institutional Distribution (FR) February 18, 2021
- KIID - EUR Institutional Distribution (NL) February 18, 2021
- KIID - EUR Institutional Distribution (ES) February 18, 2021
- KIID - EUR Institutional Distribution (DE) February 18, 2021
- KIID - GBP (EN) February 18, 2021
- KIID - GBP (CH) February 18, 2021
- KIID - GBP Institutional (EN) February 18, 2021
- KIID - GBP Institutional (CH) February 18, 2021
- KIID - SEK Accumulation (EN) February 18, 2021
- KIID - SEK Accumulation (CH) February 18, 2021
- KIID - SEK Accumulation (SE) February 18, 2021
- KIID -USD (EN) February 18, 2021
- KIID -USD (CH) February 18, 2021
Annual and Interim Reports
Application Form
Corporate Documents
Contact our sales team





