• 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, April, July and October 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

    1,282.25p-7.75p

      

Key facts

  • Key Information Document (KID)

    ISIN Trust name English Dutch
    NL0000226090 European Assets Trust NV KID KID
    • 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 £453.5 million (as at 31.12.2017)
    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, April, July and October
    Ex-dividend date(s) January, April, July and October

     

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

     2Association of Investment Companies

  • Fund manager commentary

    European small cap equities finished the year well with signs of further momentum in the European economy: December saw the fastest growth in business activity for the region in seven years and consumer confidence for the Eurozone area turned positive for the first time in nearly seventeen years. Additionally some apparent progress in the Brexit negotiations appeared to reduce a potential headwind for the region. Elsewhere the US capped off a remarkable year with the S&P 500 Index rising every consecutive month as markets were buoyed in December by the approval of corporate tax reform.

    The fund outperformed the market as a result of a number holdings performing strongly during the period. Swiss industrial conglomerate Metall Zug rose 12.3% as they announced the acquisition of a majority stake in medtech player Haag-Streit. This adds a whole new division to their business and gives them access to one of the global leaders in ophthalmology, pulmonology and optics. Irish housebuilder Cairn Homes, added to the portfolio in October, rose 10.3% as a result of continued positive newsflow regarding the nation’s housing market. Other contributors included Irish listed Financial Services company IFG group which rose 11.0% and new addition Wizz Air which was up 10.1%.

    Detractors included Irish agronomy service provider Origin Enterprises (-3.5%). Swedish facilities management business Coor (-3.0%) & German ticket distributor CTS Eventim (-3.5%). Nothing has changed regarding their investment cases and we remain holders of all three. We made limited changes to the portfolio during the period.

    As at 31 December 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.

  • 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 and the relevant Key Information Documents (“KID”) 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
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