Morningstar ratings are based on the representative share class of this fund and are dated to the last month-end upon availability from Morningstar.
As at 17 January 2022, TR European Growth Trust PLC (TRG) was renamed to The European Smaller Companies Trust PLC (ESCT). This is to make the Company’s investment proposition immediately clear to potential investors. The investment objective and policy has not changed and continues to meet investors’ demands and the Fund Manager’s approach to investing. For more information, read the Annual Report.
The Company seeks capital growth by investing in smaller and medium sized companies which are quoted, domiciled, listed or have operations in Europe (excluding the UK).
The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.
Potential investors must read the latest annual report and where relevant, the key investor information document before investing.
This website is for promotional purposes and does not qualify as an investment recommendation.
ABOUT THIS TRUST
Invests mainly in Western Europe, excluding the UK, typically with a long list of more than 120 companies
Holds companies with an average market cap of around £1bn and rarely above £3bn
Leverages Janus Henderson’s European equity expertise to find quality growth companies
The European Smaller Companies Trust PLC seeks capital growth by investing in smaller and medium sized companies which are quoted, domiciled, listed or have operations in Europe (excluding the UK). The Trust Invests mainly in Western Europe typically more than 120 companies with an average market cap of around £1bn and rarely above £3bn. The trust leverages Janus Henderson’s European equity expertise to find quality growth companies.
The Association of Investment Companies (AIC) classifies trusts into sectors as a way of grouping companies with common characteristics. The classifications are based on a combination of the trust's regional or industry focus, and its investment objective. The European Smaller Companies Trust is classified within the ‘European Smaller Companies' sector.
For general insight into the Trust please see the latest Edison commissioned research: 2020 research note.
This research gives general insight into the background of the Investment Trust, and the investment strategy with which it is run. In addition to this it outlines the Trust’s objectives and provides updates from the Fund Manager, as well as recent performance data.
Ollie Beckett, Portfolio Manager of the The European Smaller Companies Trust PLC (formerly TR European Growth Trust plc), provides an update on the Trust, highlighting the recent changes announced by the board, performance over the last financial year, inflation, and his approach to Environment Social and Governance (ESG) issues.
Ollie Beckett, Fund Manager of The European Smaller Companies Trust PLC (formerly TR European Growth Trust PLC), discusses the Trust’s recent performance – highlighting, the current macro-environment, the inflation conundrum and sectors set to benefit from economic reopening.
The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than
you originally invested.
Past performance is not a guide to future performance.
Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
If a trust's portfolio is concentrated towards a particular country or geographical region, the investment carries greater risk than a portfolio diversified across more countries.
Where the trust invests in assets which are denominated in currencies other than the base currency then currency exchange rate movements may cause the value of investments to fall as well as rise.
Most of the investments in this portfolio are in smaller companies shares. They may be more difficult to buy and sell and their share price may fluctuate more than that of larger companies.
This trust is suitable to be used as one component in several in a diversified investment portfolio. Investors should consider carefully the proportion of their portfolio invested into this trust.
Active management techniques that have worked well in normal market conditions could prove ineffective or detrimental at other times.
The trust could lose money if a counterparty with which it trades becomes unwilling or unable to meet its obligations to the trust.
Shares can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
The return on your investment is directly related to the prevailing market price of the trust’s shares, which will trade at a varying discount (or premium) relative to the value of the underlying assets of the trust. As a result losses (or gains) may be higher or lower than those of the trust’s assets.
The trust may use gearing as part of its investment strategy. If the trust utilises its ability to gear, the profits and losses incured by the trust can be greater than those of a trust that does not use gearing.
Derivatives use exposes the trust to risks different from, and potentially greater than, the risks associated with investing directly in securities and may therefore result in additional loss, which could be significantly greater than the cost of the derivative.
If the trust seeks to reduce risks (such as exchange rate movements), the measures designed to do so may be ineffective, unavailable or detrimental.
The Company confirms that it currently conducts its affairs so that its ordinary shares of 12.5p each can be recommended by IFAs to ordinary retail investors in accordance with the Financial Conduct Authority’s (FCA) rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future.
The shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are shares in an investment trust.