reports
- Pedro Fonseca
TR European Growth Trust - Making changes but keeping successful appro...
TR European Growth Trust (TRG) is looking to attract a broader investor audience through a range of changes announced after a recent strategic review. The board hopes the change of name (due in January 2022) to The European Smaller Companies Trust will make TRG’s investment focus more explicit, while an eight-for-one share split (due on 13 December) should boost liquidity and help attract smaller regular savers on retail platforms. A reduction in the base management fee (already in place) will b...
- Pedro Fonseca
TR European Growth Trust - Making changes but keeping successful appro...
TR European Growth Trust (TRG) is looking to attract a broader investor audience through a range of changes announced after a recent strategic review. The board hopes the change of name (due in January 2022) to The European Smaller Companies Trust will make TRG’s investment focus more explicit, while an eight-for-one share split (due on 13 December) should boost liquidity and help attract smaller regular savers on retail platforms. A reduction in the base management fee (already in place) will b...
- Pedro Fonseca
TR European Growth Trust - Differentiated option at a significant disc...
TR European Growth Trust (TRG) stands out among its more mid-cap focused peers for being a genuinely small-cap fund with a strong valuation awareness. This has served it well over the past year, and while it has yet to report its FY21 results, over the year to 30 June 2021 it posted share price and NAV total returns of 79.5% and 63.5% respectively, well ahead of comparator indices. The management team (lead manager Ollie Beckett, assisted by Rory Stokes and Julia Scheufler) caution that this was...
- Pedro Fonseca
TR European Growth Trust - Back to winning ways
TR European Growth Trust (TRG) has enjoyed a stellar period of performance since the COVID-19-driven stock market sell-off in March 2020 (beating the benchmark by c 25pp over one year to 28 February 2021), helped by its managers sticking to their valuation-aware investment process, as well as a timely increase in the trust’s gearing. Lead manager Ollie Beckett says the team is optimistic on the prospects for small-cap European stocks – many of which have stronger balance sheets than their large-...
- Pedro Fonseca
TR European Growth Trust - Focusing on valuation and recovery potentia...
TR European Growth Trust (TRG) suffered in the recent equity market sell-off for a number of reasons, including its relatively high level of gearing, procyclical bias and structural focus on the smaller end of the European small-cap market. However, by taking advantage of the chance to buy good companies at low valuations, and disposing of holdings whose balance sheets looked vulnerable, manager Ollie Beckett has so far outperformed the EMIX Smaller Europe ex-UK Index since the mid-March lows. T...
- Sarah Godfrey
TR European Growth Trust - Finding small-cap value opportunities
TR European Growth Trust (TRG) has seen its share price de-rate substantially over the past 18 months, from a c 3% premium to NAV to a c 15% discount, following a period in which its small-cap value style of investing has been out of favour with investors. However, its NAV has risen c 13% year to date, with lead manager Ollie Beckett taking advantage of depressed valuations in smaller European companies whose growth potential he believes is underappreciated by the wider market. The portfolio ...
- Sarah Godfrey
TR European Growth Trust - Finding opportunities in European small-cap...
TR European Growth Trust (TRG) lead manager Ollie Beckett says he and his team are still finding plenty of investment opportunities, in spite of the global bull market in equities arguably being closer to the end than the beginning. The managers focus on attractively valued smaller companies in continental Europe, where improving returns or management changes have not yet been appreciated by the wider market. After a stellar year of performance in FY17 (NAV and share price total returns of +54.0...
- Sarah Godfrey
TR European Growth Trust - Small-cap value focus delivers outperforman...
TR European Growth Trust (TRG) invests in a diversified portfolio of small and mid-cap European (ex-UK) companies, with the aim of achieving capital growth. Its manager at Janus Henderson Investors seeks companies that are undervalued as a result of being misunderstood by the market. The portfolio is weighted towards the smaller end of the market cap spectrum, where companies are less well-researched. As recovery has taken hold in Europe, TRG’s recent performance has been exceptionally strong....
- Sarah Godfrey
Strong returns from European small-cap specialist
TR European Growth Trust (TRG) has enjoyed an exceptionally strong period of recent share price and NAV performance, posting gains of c 50% over 12 months to 30 April. While returns from all overseas investments have been boosted by the weakness of sterling since the UK’s Brexit referendum, TRG’s outperformance has been assisted by a focus on better-value cyclical stocks, and the decision of lead manager Ollie Beckett to increase gearing in the second half of 2016. The trust invests in European ...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Review: Finding value in European small-caps
TR European Growth Trust (TRG) holds a diversified portfolio of European (ex-UK) small and mid-cap companies, with the aim of achieving long-term capital appreciation. Set up in 1990, the trust has been managed by Ollie Beckett (assisted by Rory Stokes) at Henderson Global Investors since July 2011, over which time it has comfortably beaten the benchmark Euromoney Smaller Europe ex-UK index in share price and NAV total return terms, as well as outperforming larger-cap European stocks and the FTS...
Initiation: Diversified approach to small-cap Europe
TR European Growth Trust (TRG) is an established investment trust investing in small and mid-sized continental European companies. Managed by Ollie Beckett at Henderson Global Investors since July 2011 (assisted by Rory Stokes from 2013), its principal aim is to achieve capital growth, although it also has a long record of year-on-year dividend growth. TRG has a longer stock list than its peers, driven by its focus on companies further down the market capitalisation spectrum, where greater diver...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.