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Fund overview
The VT Tyndall European Unconstrained Fund is an open-ended investment company (OEIC), authorised and regulated by the Financial Conduct Authority. The Fund seeks to generate income and capital growth over the long term by investing in European equities.
Investment philosophy
The fund is genuinely unconstrained by market cap, style factor, industry or benchmarks and is a concentrated, high conviction fund with a significantly high active share
We follow a bottom-up, fundamental research-driven process, with investment ideas coming from two main sources and with a long term time horizon. The fund also has a strong focus on the small & mid cap areas of the European market which is where our process sources the 30-40 best ideals that exemplify our approach;
- Contrarian ideas– Our in-depth investment research allows us to take advantage of negative sentiment to establish positions in high-quality companies when they are out of favour with the broader market. We have confidence in our approach to hold the position and have patience for our investment thesis to play out.
- Under the radar ideas – we look for ‘under-the-radar’ ways to play structural themes e.g. AI, Defence, Energy
Note: As of 1 January 2026, Tyndall Investment Management became the investment manager of the Fund. Given the change of investment manager, the VT Downing European Unconstrained Income Fund was renamed the VT Tyndall European Unconstrained Fund. The Fund will continue to be managed by Mike Clements and Pras Jeyanandhan, who joined Tyndall and remain fully responsible for the Fund’s investment strategy and day-to-day management. Investors can expect the same high-conviction, active approach that has defined the Fund since its launch in 2020.
Access to historic factsheets and commentaries will be available here until January 31 2026: VT Downing European Unconstrained Income Fund | Existing Investor.
Key facts
Highly differentiated
Highly differentiated fund from its peers and the index
Concentrated
A high conviction fund comprising our best 30-40 ideas across the entire market cap spectrum
Actively managed
We target a minimum active share of 90%
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Fund Manager
Mike Clements
Managed from
17/11/2020
Fund Manager
Pras Jeyanandhan
Managed from
17/11/2020
Fund Structure
UK OEIC
Sector
IA Europe ex UK