Investment Strategies

Evelyn Partners' Core MPS Favours European Equities

Editorial Staff 21 October 2025

Evelyn Partners' Core MPS Favours European Equities

UK wealth manager Evelyn Partners, which has £64.6 billion ($86.6) of assets under management, has announced changes to rebalance its Core Managed Portfolio Service, shifting exposure to Europe ex-UK.

Evelyn Partners has announced changes to its Core Managed Portfolio Service (MPS). The rebalance is designed to address an overweight to the UK and more modest underweight to Europe, James Burns, head of MPS and portfolio manager on Evelyn Partners Core MPS, said.

“This rebalance saw us make a small reduction in the exposure to UK equities with the proceeds being reinvested into European equities. No changes were made to the bonds or alternatives allocations,” Burns said in a note.

“Within our regional equity allocation, we have for some time held a large overweight to the UK and a more modest underweight to Europe versus our long-term asset allocation framework,” Burns continued. “While UK market performance has been strong year-to-date, we struggle to find sufficient conviction to justify maintaining such a large exposure. Both regions look cheap compared to the US, but relative earnings and margin signals suggest that Europe ex-UK is more appealing than the UK.”

“Only one new fund was introduced, with M&G Asian being added to the two highest risk portfolios to add some diversification to our existing list of holdings. The manager, David Perrett, takes a benchmark aware approach with no large deviations in either sector or geographic allocation. Instead, he has developed a strong track record of generating outperformance through stock selection.”

The Evelyn Partners Core MPS range helps to ensure that portfolios are managed through the investment cycle by maintaining diversification and risk management. Among the outsourced investment solutions Evelyn Partners provides to UK financial advisors, Core MPS sits alongside the Evelyn Partners Active MPS range, a low-cost Index MPS range which invest in passive funds and ETFs, and a Sustainable MPS range.

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