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Some say Europe is cheap, while others argue that's because the region is mired in low growth and political uncertainty.
While the market appears to be voicing its opinion on TR European Growth (TRG), with the shares trading at a 15% discount below net asset value, manager Ollie Beckett is unruffled by the apparent unpopularity of his investment area.
In this video interview Beckett reveals which European financials he is banking on to defy widespread sector pessimism and why Germany and France make up nearly half of his portfolio.
Over three years to 28 October, the £449 million trust has delivered a 61.5% total return to shareholders, beating the 43% gain from the Euromoney Smaller European Companies index.