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European Assets Trust

LN: EAT

£440.7m market cap

267.39p last close

EAT is an investment company incorporated in the Netherlands and listed on the LSE and Euronext. It
targets capital growth through investment in quoted small- and medium-sized companies in Europe (ex-UK),
taking the HSBC Europe (ex-UK) Smaller Companies Index as benchmark. A high distribution policy has
been adopted; dividends have been paid from a combination of income and capital.

Investment summary

European Assets Trust (EAT) aims to generate long-term capital growth through investing in quoted small- to medium-sized companies in Europe, excluding the UK. Over the past 10 years, EAT’s NAV total return (TR) has generated an annualised return of 12.9%. The board has a high payout policy and a 17.2% increase in the declared FY20 dividend results in a forward yield of 6.6%. Previously dual-listed in Amsterdam and London, EAT completed its legal migration to the UK in March 2019. The board believes a premium listing on the London Stock Exchange and becoming a constituent of the FTSE SmallCap and FTSE All-Share indices could broaden EAT’s appeal and help close the trust’s NAV discount over time.

Share price graph
Price performance
%
1m
3m
12m
Actual (1.2) (5.9) 1.9
Relative* (7.3) (7.4) (2.1)
52-week high/low 293.5p/262.5p
*% relative to local index
Key management
Sam Cosh Fund manager

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