Edison issues review on European Assets Trust

RNS Number : 3754Q
European Assets Trust PLC
26 February 2021
 

 

London, UK, 26 February 2021

 

Edison issues review on European Assets Trust (EAT)

European Assets Trust (EAT) seeks to generate long-term capital growth by investing in a concentrated but diverse portfolio of small and medium-sized European companies. The trust has adopted a high distribution policy that pays a dividend of 6% of NAV as at the end of the preceding financial year. Managers Sam Cosh and Lucy Morris used the Q120 market sell-off to improve the quality of the portfolio and these changes are having a favourable impact on EAT's performance. In the six months to end-January 2021, EAT made positive absolute gains, returning 23.7% in NAV terms, and outperformed the benchmark, which returned 22.2%. The trust has consistently outperformed the UK market over the past 10 years.

 

EAT's shares are currently trading at a 10.9% discount to cum-income NAV. This is relatively wide compared to historical levels. However, the trust's high dividend pay-out policy, combined with a recent improvement in performance, may help EAT's discount narrow towards its longer-term levels over time. 
 

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For more information, please contact Edison:

Joanne Collins +44 (0)20 3077 5700 investmenttrusts@edisongroup.com

Mel Jenner +44 (0)20 3077 5720  investmenttrusts@edisongroup.com

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