The budget airline, which sailed through the recession while bigger, plusher competitors saw their passenger numbers dwindle, said a growth in the number of European travellers has helped it hit pre-tax profits of £248m for the year to 30 September. Last year’s figure was £154m.
However, only three funds and no investment trusts have the stock in their top-10 holdings, according to FE Analytics data: two UK equity vehicles and one absolute return fund.
Funds exposed to Easyjet
| Fund |
Exposure to Easyjet (%) |
| Cazenove - UK Absolute Target |
2.7 |
| Cazenove - UK Opportunities |
3.36 |
| Stan Life Inv - UK Equity Recovery |
3 |
Source: FE Analytics
Our data shows both equity funds, Cazenove UK Opportunities and Standard Life UK Equity Recovery, trouncing theIMA UK All Companies sector over one and two years.
Performance of funds over 2-yrs
Source: FE Analytics
The Five Crown-rated Cazenove UK Opportunities fund is co-managed by Julie Dean and Steve Cordell. It has £167.5m under management and also includes FTSE giant BG Group in its top-10. The Standard Life fund has a shorter track record and has just £25.6m under management right now. It is run by David Cumming.
Cazenove UK Absolute Target is also a sector-beater over one year, but has higher volatility than some may wish to see in an absolute return fund, and only just has a three-year record. The fund has made just 2.4 per cent since launch, compared with 13.5 per cent from the average fund in the IMA Absolute Return sector.
Babcock International and GlaxoSmithKline sit alongside Easyjet in the fund’s top-10.