European Opportunities Trust PLC Edison issues update on European Opportunities
08 Marzo 2023 - 2:11AM
RNS Non-Regulatory
TIDMEOT
European Opportunities Trust PLC
08 March 2023
London, UK, 8 March 2023
Edison issues update on European Opportunities Trust (EOT)
European Opportunities Trust's (EOT's) manager, Alexander
Darwall, invests in globally focused companies with unique
technologies, comparative advantages and multiple growth channels,
with the aim of constructing a resilient portfolio capable of
generating capital growth in all economic climates. This strategy
has delivered positive returns and outperformance over the long
term; in the 10 years to end February 2023, the portfolio has made
an average annualised return of 9.1% in NAV terms, compared to a
benchmark return of 8.1% on the same basis. Nearer-term performance
has been disappointing, and the share price discount has widened,
despite the fact that most of EOT's portfolio holdings are
performing well. Manager Alexander Darwall expects positive news
from several of his 'special' companies over the coming year, which
should boost performance, and he is confident his strategy and
patience will continue to pay off for shareholders over the longer
term.
Investors may be attracted by the manager's stock selection
skills, which are manifest in the trust's record of long-term
capital growth and outperformance. EOT's particularly strong
outperformance at times when the market is emerging from crises may
be reassuring for investors unnerved by the past year's unusual,
challenging events and volatility. The manager's focus on
innovative, world-leading, growth-oriented companies may appeal to
those keen to invest in 'tomorrow's winners', developing game
changing drugs, agricultural products and consumer services, and
benefiting from rising demand for sustainable fuels and
semiconductors. EOT's historically wide 13% share price discount
(vs 4% long-term average) has scope to narrow if performance
improves and/or as investors come to appreciate the relative value
EOT's shares offer at their current historically wide levels. In
the meantime, investors may see an ideal opportunity to gain
exposure to high-quality, growth-oriented stocks at a discount.
EOT's focus on capital growth means that it does not receive, or
pay, significant dividends. This low-dividend policy may detract
from the trust's appeal for those requiring regular and attractive
income.
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March 08, 2023 03:11 ET (08:11 GMT)
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