TR European Growth Trust PLC invests predominately in smaller and medium sized companies in Europe (excluding the UK) and aims for capital growth from a net asset value total return greater than its benchmark. This is a 50/50 blend of the HSBC Smaller Europe (ex UK) Index and the S&P/Citigroup EMI Europe (ex UK) Index both expressed in sterling.

Key Facts

  • Experience counts

    TR European Growth Trust PLC was launced in 1990 and has always been managed by Stephen Peak.

  • Diversify into EuropeThe company provides access to smaller and medium sized companies in Continental Europe.
  • New opportunitiesLooks for opportunities amongst new growing companies in Europe's developed and emerging economies.
  • Actively seeking growthThe manager will use active gearing on a selective basis with the aim of enhancing returns for shareholders.

Reasons to Invest

  • Driven by stock selectionYou can benefit from proven stock picking skills of a European specalist manager.
  • A buying opportunity

    Europe continues to offer good opportunities, with many stocks available at attractive valuations.

  • Value for moneyCosts (Total Expense Ratio) are the lowest  in its sector at 0.62% (Source: The AIC/FundData 18/08/09).
  • Motivated to achieve

    A performance fee closely aligns the interest of the manager with those of the shareholders.

Price

PriceNAV
05/03
2010		Div Yield
(Net)		Discount
409.0446.90.8-8.92
As at 08/03/2010
Source: Financial Express

Fund Manager - Stephen Peak

Stephen Peak


 

 

QuestionmarkAsk Stephen a question


Fund Manager's Commentary - December 2009

Markets continued to rally in December, with larger companies outperforming their smaller brethren. The strength of Sterling led to significantly lower returns for UK-based investors.

We added a new holding in CFAO, the French leader in specialised distribution to Africa and the French Overseas Territories. The company is particularly strong in automotive and pharmaceuticals, and should see good long-term growth as the economies in those regions mature. We also increased our holding in OHL, the Spanish construction and concessions group, by subscribing to its rights issue. We continued to buy back our own shares. These were all done at a discount to the net asset value per share and hence enhanced the value attributable to the remaining shareholders.

 

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