• European Assets Trust
  • 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

    The value of your investments can go down as well as up, and you may not get back what you originally invested.

  • Share price

    1,284.00p +0.00p

      

Key facts

    • 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 £439.7 million (as at 31.10.2017)
    ISIN NL0000226090
    SEDOL 322566
    Currency Euros
    Ticker Symbol EAT.L
    Key dates
    Annual general meeting May
    Shareholders' and Investors' Briefing May                                      
    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

    The strong rally in European Equities continued unabated during October. Despite potential hurdles such as the Catalan crisis engulfing Spain, markets delivered a 1.3% gain during the period in Euro terms. The strength of the pound reduced this to 0.8% on a sterling basis. Macroeconomic data remains supportive for the region as unemployment figures showed reached an 8 year low and both Purchasing Managers’ Indices (a widely used indicator of economic health) and consumer confidence picked up. The European Central Bank’s announcement that their quantitative easing programme will stretch into September 2018, albeit at a lower rate, was perhaps more supportive then many were expecting helping to push the markets higher at the end of the month.

    The fund, lagged the strong market. This is always likely to be the case when areas to which we have limited exposure (such as information technology) or have no exposure (telecoms) lead the market. We were also hampered by stock specifics.

    In terms of detractors, Swedish wooden window manufacturer Inwido fell 12.1% as their quarterly results highlighted ongoing production disturbances as they try to keep up with increased demand. Whilst disappointed they have not been able to rectify this we have conducted a full review and remain confident this is a temporary issue, the company has not lost market share and the long term structural opportunity remains. The valuation remains very appealing. French IT hardware and software provider Lectra also declined, falling 5.8% as negative foreign exchange movements took the shine off their positive order intake and strong cash generation.

    In terms of positive contributors, Italian corporate credit data provider Cerved rose 9.9%. Quarterly results showcased continued improvement in credit management and the development of new partnerships. Shares in Swedish integrated facility management company Coor increased 12.0% as they delivered both strong growth and margin expansion.

    As at 31 October 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

    1,284.00p +0.00p

      

  • 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.