Complexity brings opportunity — key dynamics shaping European equities

Launching a new fund requires a steady nerve at the best of times. But even more so when, in the fund’s infancy, the manager must contend with the substantial challenges of a global pandemic, a war at Europe’s fringes, and ensuing energy and inflation crises. Here, Tobias Mueller describes his experience over the first three years of the European Select Strategy and how a laser focus on high‑quality companies drives his long‑term approach to the portfolio.