For individual investors in the UK

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
1,450.00p
As of 26/10/2021

Estimated NAV
1,638.46p
As of 26/10/2021

Discount / Premium
-11.50%
As of 26/10/2021

Yield
1.52%
As of 26/10/2021

Buy via interactive investor Buy via AJ Bell Youinvest

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.

View Our Investment Trust Insights

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.
Discrete Performance (%)
As of 30/09/2021
Net Asset Value Price
 
Quarter End
As of 30/09/2021 		2020/2021 2019/2020 2018/2019 2017/2018 2016/2017
Net Asset Value 62.92 2.93 -7.25 1.56 57.24
Price 80.10 -2.50 -10.30 -3.40 76.40
© Morningstar 2021. All rights reserved. The Price and Net Asset Value total returns.
Cumulative Performance (%)
As of 26/10/2021
NAV (Net) Price (Net)
 
As of 26/10/2021 1MO 3MO YTD 1YR 3YR 5YR 10YR
NAV (Net) -1.30 -0.05 17.60 47.35 84.62 95.47 401.77
Price (Net) -0.54 1.53 14.88 46.52 85.14 107.69 459.85
© Morningstar 2021. All rights reserved. The Price and Net Asset Value total returns.
DIVIDENDS
Ex Dividend Date Pay Date Amount div p/ps
21-Oct-21 03-Dec-21 16.80
25-Mar-21 23-Apr-21 8.20
22-Oct-20 27-Nov-20 14.20
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

Portfolio

Top Holdings (As of 30/09/2021)
% of Fund
Van Lanschot Kempen 2.68
TKH Group 2.28
Aareal Bank 2.16
Recticel 2.01
Dfds 1.81
eDreams ODIGEO 1.78
BFF Bank 1.59
Kindred Group 1.46
Deutz 1.40
FLEX LNG 1.37
View full holdings
References made to individual securities should not constitute or form part of any offer or solicitation to issue, sell, subscribe or purchase. Holdings are subject to change without notice.
Sector Allocation % OF FUND % OF FUND (As of 30/09/2021)
Industrials 35.99
Consumer Services 13.33
Consumer Goods 11.70
Technology 8.93
Core Financials 8.53
Basic Materials 5.21
Financial Services 5.03
Health Care 4.89
Utilities 2.65
Energy 2.48
Country/Geographic Exposures % OF FUND % OF FUND (As of September 30, 2021)
Germany 24.55
France 12.33
Sweden 10.70
Netherlands 8.39
Italy 7.99
Belgium 5.50
Spain 5.47
Switzerland 5.33
Ireland 3.87
Finland 3.31

Documents

Document View
TR European Growth Trust PLC - Response to voting at 2020 AGM
TR European Growth Trust PLC - ESG approach
TR European Growth Trust PLC - Annual Report 2021
TR European Growth Trust PLC - Annual Report 2020
TR European Growth Trust PLC - Annual Report 2019
TR European Growth Trust PLC - Annual Report 2018
TR European Growth Trust PLC - Annual Report 2017
TR European Growth Trust PLC - Annual Report 2016
TR European Growth Trust PLC - Annual Report 2015
TR European Growth Trust PLC - Annual Report 2014
TR European Growth Trust PLC - Annual Report 2013
TR European Growth Trust PLC - Annual Report 2012
TR European Growth Trust PLC - Proxy Form
TR European Growth Trust PLC - Proposed changes to the articles
TR European Growth Trust PLC - Factsheet
TR European Growth Trust PLC - Portfolio Disclosure
TR European Growth Trust PLC - Half Year Report 2020
TR European Growth Trust PLC - Half Year Report 2019
TR European Growth Trust PLC - Half Year Report 2018
TR European Growth Trust PLC - Half Year Report 2017
TR European Growth Trust PLC - Half Year Report 2016
TR European Growth Trust PLC - Half Year Report 2015
TR European Growth Trust PLC - Half Year Report 2014
TR European Growth Trust PLC - Half Year Report 2013
TR European Growth Trust PLC - Half Year Report 2012
TR European Growth Trust PLC - Half Year Report 2011
TR European Growth Trust PLC - Half Year Update 2020
TR European Growth Trust PLC - Notice of Meeting 2021
TR European Growth Trust PLC - Key Information Document
TR European Growth Trust plc - AIFMD Disclosure
TR European Growth Trust PLC - Poll Results 2020
TR European Growth Trust PLC - Proxy Votes 2019
TR European Growth Trust PLC - Terms of Reference of the Audit Committee
TR European Growth Trust PLC - Terms of Reference of the Management Engagement Committee
TR European Growth Trust PLC - Terms of Reference of the Nominations Committee

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Related Insights
Outlook for Europe encouraging
July 2021

Outlook for Europe encouraging

Ollie Beckett, Fund Manager for TR European Growth Trust, discusses the Trust’s recent performance – highlighting, the current macro-environment, the inflation conundrum and sectors set to benefit from economic reopening.

5 min watch

‘ESG’ investing: what is it, where are we now, where is it going?
April 2021

‘ESG’ investing: what is it, where are we now, where is it going?

Given the meteoric rise in the popularity of ESG-focused investing over recent years, it’s remarkable to reflect that, as little as a dozen or so years ago, it was a concept that was rarely contemplated. In this white paper, we explore the origin and current understanding of ESG investing.

Read More

Shining a light on ‘hidden ESG’ in European smaller companies
March 2021

Shining a light on ‘hidden ESG’ in European smaller companies

Ollie Beckett, Fund Manager for TR European Growth Trust and Rory Stokes, portfolio manager, discuss the impact that the rise in ESG has had on the market and why it is important to look beyond ESG ratings.

Read More

  • ​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.