The European Investment Trust

LN: EUT

£320.3m market cap

796p last close

The European Investment Trust (EUT) aims to achieve long-term capital growth through a diversified portfolio of continental European securities. The trust was launched in 1972 and management was transferred to Edinburgh Partners on 1 February 2010 following a tender process. The manager follows a disciplined, long-term value approach. The trust has an indefinite life and is not subject to a periodic continuation vote.

Investment summary

The European Investment Trust (EUT) is managed by Craig Armour at Edinburgh Partners (EP, which is now a wholly owned subsidiary of Franklin Templeton Investments). He aims to generate attractive investment returns from a diversified portfolio of continental European equities, employing a disciplined, valuation-based stock selection strategy. The manager believes investor sentiment has become too negative, on the back of slowing global growth in response to the US/China trade dispute. He says that as a result, many sectors of the European stock market – including industrials and other cyclicals – are looking attractively valued. EUT’s board has a progressive dividend policy and the trust currently offers a yield of 3.5%, which is the highest for a non-income-focused fund within the AIC Europe sector.

Share price graph
Price performance
%
1m
3m
12m
Actual (4.8) (2.3) (15.7)
Relative* (3.1) (4.2) (9.1)
52-week high/low 940.0p/754.0p
*% relative to local index
Key management
Craig Armour Fund manager
Jamie Mackintosh Client Service & Sales Partner
Kenneth Greig Legal Director

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