Montanaro UK Smaller Companies – Riders on the storm
After a tough year for quality-growth strategies of all kinds, Montanaro UK Smaller Companies (MTU) may finally be seeing the light at the end of the tunnel, thanks to the possible plateauing of interest rates.Manager Charles Montanaro remains focused on picking high-quality stocks with long-term growth potential, sticking with the approach despite the headwinds of early 2022. He feels that the selloff in UK small caps has meant that MTU has become even more attractive on a fundamental basis, saying that many of its holdings are trading on attractive valuation multiples, despite demonstrating the same growth potential.
MTU’s discount has widened recently, trading currently on a 9.4% discount. Lower valuations, a wide discount by recent standards, and, if the manager is correct, a potential rebound in performance might make this an attractive entry point for investors.
Montanaro U.K. Smaller Companies Investment Trust is a closed-end investment trust company. Co. invests in small quoted companies listed on the London Stock Exchange or traded on Alternative Investment Market.
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