TRG TR European Growth Trust PLC

Providing unique access to Europe’s growing small- and medium-sized companies with the sole aim of increasing shareholder capital

ISIN
GB0009066928

Share price
964.00p
As of 22/09/2020

Estimated NAV
1,128.96p
As of 22/09/2020

Discount / Premium
-14.61%
As of 22/09/2020

Yield
2.31%
As of 22/09/2020

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Morningstar ratings are based on the representative share class of this fund and are dated to the last month-end upon availability from Morningstar.

Overview

INVESTMENT OBJECTIVE

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
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Past performance is not a guide to future performance. 
 

Knowledge. Shared

At Janus Henderson, we believe in the sharing of expert insight for better investment and business decisions. We call this ethos Knowledge. Shared.

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ANNOUNCEMENTS

View the latest announcements for this Trust:

London Stock Exchange

FREQUENTLY ASKED QUESTIONS

PORTFOLIO MANAGEMENT

Ollie Beckett

Ollie Beckett

Portfolio Manager

Industry since 1995. Joined Firm in 2005.

Performance

Past performance is not a guide to future performance. Performance is shown based on the Share Price and does not include income reinvested.
Discrete Performance (%)
As of 30/06/2020
Net Asset Value Price (ORD) (ORD)
 
Quarter End
As of 30/06/2020 		2019/2020 2018/2019 2017/2018 2016/2017 2015/2016
Net Asset Value 37.21% 9.63% 2.55% 11.18% 3.18%
Price 37.20% 7.00% -2.90% 14.80% -0.40%
© Morningstar 2020. All rights reserved. The Price and Net Asset Value total returns.
Cumulative Performance (%)
As of 22/09/2020
Net Asset Value Price
 
As of 22/09/2020 1MO 3MO YTD 1YR 3YR 5YR 10YR
Net Asset Value 0.86% 10.25% 5.15% 14.35% 0.61% 93.91% 200.76%
Price 1.26% 14.63% 0.97% 13.11% -10.03% 85.94% 222.69%
© Morningstar 2020. All rights reserved. The Price and Net Asset Value total returns.
DIVIDENDS
Ex Dividend Date Pay Date Amount div p/ps
26-Mar-20 17-Apr-20 7.80
23-Oct-19 29-Nov-19 14.50
14-Mar-19 12-Apr-19 7.50
25-Oct-18 30-Nov-18 14.00
15-Mar-18 13-Apr-18 5.00
02-Nov-17 30-Nov-17 11.50
01-Nov-17 29-Nov-17 3.00
03-Nov-16 05-Dec-16 11.50
22-Oct-15 23-Nov-15 9.50
16-Oct-14 24-Nov-14 9.20
16-Oct-13 18-Nov-13 8.00
03-Oct-12 09-Nov-12 6.00

Portfolio

Top Holdings (As of 31/08/2020)
% of Fund
Van Lanschot Kempen 2.44
Dfds 2.43
Metso Outotec 2.14
TKH Group 2.10
Nexans 1.73
Aareal Bank 1.72
Befesa 1.59
FinecoBank Banca Fineco 1.54
Westwing Group 1.51
Banca Farmafactoring 1.44
View full holdings
Sector Allocation % OF FUND % OF FUND (As of 31/08/2020)
Industrial Goods 26.79
Technology 18.11
Business Providers 14.38
Financial 13.40
Consumer Goods 12.94
Basic Materials 9.08
Retail Providers 4.62
Natural Resources 0.69
Country/Geographic Exposures % OF FUND % OF FUND (As of August 31, 2020)
Germany 19.94
France 13.68
Switzerland 9.44
Italy 9.13
Sweden 9.12
Netherlands 8.13
Finland 5.48
Norway 5.41
Belgium 4.04
Spain 3.77

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Related Insights
Manager update on TR European Growth Trust
April 2020

Manager update on TR European Growth Trust

Manager update on TR European Growth Trust

Read More

Is 2020 the year for European small cap?
January 2020

Is 2020 the year for European small cap?

Ollie Beckett, fund manager for TR European Growth Trust, explains why he believes European smaller companies are performing well; Ollie believes this is due to renewed investor confidence as economic data points towards a stabilisation and a positive start to 2020. Ollie also discusses the latest portfolio activity and which stocks have performed exceptionally well.

Watch Now

TR European Growth Trust AGM
November 2019

TR European Growth Trust AGM

Fund Manager Ollie Beckett presents on how the Trust has performed over the last financial year and his outlook for the coming months.

Watch Now

  • ​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.
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