BlackRock Greater Europe Investment Trust (LSE: BRGE)

Currency in GBP

Last close As at 06/02/2023

GBP5.16

8.00 (1.57%)

Market capitalisation

GBP521m

BlackRock Greater Europe Investment Trust’s objective is to achieve capital growth, primarily through investment in a focused portfolio of large-, mid- and small-cap European companies, together with some investments in the developing markets of Europe. It aims to achieve a net asset value total return in excess of a broad index of European ex-UK equities (in sterling terms).

Equity Analyst

Melanie Jenner

Mel Jenner

Director, Investment Trusts

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 13.4 20.4 (11.8)
Relative 7.4 9.4 (12.7)
52 week high/low 602.0p/408.5p

Overview

BlackRock Greater Europe Investment Trust’s (BRGE) manager Stefan Gries (developed markets, c 95% of the fund) is continuing with his successful long-term approach of being ‘an investor in businesses rather a trader in shares’. He believes that stock market volatility will persist as the extended period of low interest rates has come to an end, with central banks tightening monetary policy in response to higher inflation. The manager is confident about the earnings prospects for the fund’s investee companies, which he suggests are underestimated by the market. While BRGE’s performance in 2022 has been negatively affected by the focus on macroeconomic events rather than company fundamentals, the trust has a commendable medium- and longer-term record. Its NAV total return ranks first in the AIC Europe sector over the last five and 10 years, and second over the last three years.

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