European Assets Trust (LSE: EAT)

Last close As at 15/06/2024

92.80

1.00 (1.09%)

Market capitalisation

GBP331m

European Assets Trust is an investment company incorporated in the Netherlands and listed on the LSE and Euronext Amsterdam. Following shareholders’ approval, the trust will legally migrate to the UK from mid-March 2019. It targets capital growth through investment in quoted small- and medium-sized companies in Europe (ex-UK), taking the EMIX Smaller Europe ex-UK index as a benchmark. It has adopted a high distribution policy; dividends have been paid from a combination of income and capital.

Latest Insights

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European Assets Trust — Tentative signs of recovery in Europe

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European Assets Trust — Performance, income and a well-balanced portfolio

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 2.5 (3.1) (12.2)
Relative (2.1) (3.1) (15.0)
52 week high/low 107.0p/77.2p

Overview

In times of economic stress or extreme investor risk aversion, small-cap stocks are frequently indiscriminately sold down by investors, which has created significant headwinds for European Assets Trust (EAT) over the past 12 months. Factors like stock market volatility created by the war in Ukraine and associated secondary effects such as supply chain disruption, lower economic growth, higher inflation and more hawkish central bank activity have contributed to weak investor sentiment towards European small-cap stocks. Also, the rotation away from long-duration growth assets has presented seismic challenges for managers regardless of asset class, but especially for European smaller companies. In our November 2022 update on EAT, we made the case for backing the experienced management duo, and continue to believe that once markets focus on the fundamentals of the innovation, growth and cheapness in the market, EAT and European smaller companies are well placed to outperform again.

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