• Europe Asset Trust - NEW BANNER
  • The Trust seeks to generate attractive long-term capital growth through investment in quoted small and medium-sized companies in Europe, excluding the UK. As well as capital growth the company aims to offer an attractive dividend, with payments made in January, May and August of each year.

  • How to Invest

    Open an F&C Savings Plan

    Call: 0800 136 420

    Invest online now

  • Share price

    1140.00p10.00p

    24 March 2017

Key facts


  • NEW - Fund Manager update video

     

    F&C European Asset Trust - foundation video

     
    • A high-conviction trust that taps into the huge potential of small and medium-sized companies in Europe
    • Attractive combination of capital growth and income; 6% of the year end NAV paid to shareholders as dividends*
    • Under researched asset class which offers the potential for significant performance from stock picking
    • The strategy has delivered strong investment performance

    Past performance is no indication of future returns.

     

  • Fund facts
    Investment manager F&C Investment Business Limited
    Benchmark Euromoney Smaller European Companies (ex-UK) Index
    AIC2 sector European Smaller Companies
    Launch date 1972
    Total assets £374.9 million (as at 31.01.2017)
    ISIN NL0000226090
    SEDOL 322566
    Currency Euros
    Ticker Symbol EAT.L
    Key dates
    Annual general meeting 10 May 2016
    Shareholders' and Investors' Briefing 11 May 2016                                      
    Year end 31 December
    Dividend payment date(s) January, May and August
    Ex-dividend date(s) January, May and August

     

    1Calculated with reference to December 31 net asset value with dividend payments made in January, May and August of each year.

     2Association of Investment Companies

  • Fund manager commentary

    Continued strong economic data in Europe helped override investor concerns over imminent elections in the region as European equity markets delivered another strong month. February also saw the start of the full year earnings season which helped provide further support to stocks confirming that the outlook for profits in Europe is encouraging. Our portfolio outperformed the benchmark over the month.

    Our best performer in February was Glanbia the international nutrition business, rising +18.1% in euro terms. The full year results confirmed encouraging progress, but the main reason for the share price move was the news that they were exiting their Irish dairy processing business. Glanbia has successfully transitioned from a relatively capital intensive dairy business to a global nutrition business delivering better growth at higher margins. The exit from Irish dairy helps complete this transition.

    Our other standout performer was the French software and hardware business Lectra which rose 16.9% after releasing positive full year results and a positive updated outlook for the next three years. Strong sales into the automotive space and improving profitability were reassuring whilst the company highlighted a number of future growth opportunities.

    Our biggest detractor from performance was Amer Sports, the Finnish sporting goods business with strong brands in skiing (Atomic, Salomon), tennis (Wilson), mountaineering (Arcteryx) and cycling (Mavic). The full year results release was disappointing with a particularly weak fourth quarter, with the most challenging aspect a poor reception to the release of its new range of Suunto GPS watches. We do however believe that the majority of the disappointing operational performance was transitory and will continue to hold the position.

    As at 28 February 2017

  • The value of shares and the income from them is not guaranteed and can fall as well as rise due to stock market movements. Past performance is not a guide to future performance. When you sell your shares, you might get back less than you originally invested. If markets fall, gearing can magnify the negative impact on performance. Changes in rates of exchange may have an adverse effect on the value, price or income of investments. Emerging Markets, Unquoted Companies and Smaller companies carry a higher degree of risk and their value can be more sensitive to market movement; their shares may be less liquid and performance may be more volatile. Such funds typically have high minimum investment levels and may restrict or suspend redemptions or repayment to investors. The asset value of these shares and its prospects may be more difficult to assess.

    * The Board has stated that barring unforeseen circumstances it will pay an annual dividend equivalent to 6% of the NAV. The dividend is funded from a combination of accumulate capital gains and income but the dividend may fluctuate. Dividend payments may constitute a return of capital in whole or in part and may be achieved by foregoing future capital growth.

  • Share price

    1140.00p10.00p

    24 March 2017

  • Sam Cosh

    Sam Cosh

    Fund Manager

Past performance is not a guide to future results. The value of investments can go down as well as up.

Information in this section of the Website is directed solely at persons who are located in the UK and can be categorised as retail clients. Nothing on this website is, or is intended to be, an offer, advice, or an invitation, to buy or sell any investments. Please read our full terms and conditions before proceeding further with any investment product referred to on this website. This website is not suitable for everyone, and if you are at all unsure whether an investment product referenced on this website will meet your individual needs, please seek advice before proceeding further with such product.

  • MOBS TAW BMO Global 2016          Rated fund logo 2017
Top

 

Cookie Policy

We have published a new cookie policy. To learn more about cookies, their benefits and how we use them on our website, please read our cookie policy.

By using the site you are accepting this policy.