Slower business activity, job growth, and the UK’s Brexit referendum have led central banks in the Europe to continue the quantitative easing strategies.
There has barely been anything positive about AXEAX so far in 2016. The fund has a high portfolio turnover rate and has seen its top-invested sectors contribute negatively.
The Columbia European Equity Fund Class A (AXEAX) has fallen 6.6% year-to-date, emerging as a below-average performer in the group of 12 funds under review.
From a purely NAV (net asset value) return standpoint, AXEAX was an above-average performer for the one-year period until March 15, 2016. It was placed fifth for the period among its peer group.
As of the September portfolio of the Columbia European Equity Fund, the top ten equity holdings included Novartis, Roche Holding, and Prudential Financial.
Among the component sectors of the iShares MSCI United Kingdom ETF (EWU), the financial sector and the consumer staples sector performed well in the UK market on September 2.
