European Assets Trust (EAT)

Business description

EAT is an investment company incorporated in the Netherlands and listed on the LSE and Euronext. It targets capital growth through investment in quoted small- and medium-sized companies in Europe (ex-UK), taking the HSBC Europe (ex-UK) Smaller Companies Index as benchmark. A high distribution policy has been adopted; dividends have been paid from a combination of income and capital.

Stock data

Market cap.£436.4m
Last close1,280.00p
High / Low (52 weeks)1340.0p / 982.5p
Stock market listingLN, EU
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment Companies

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Investment summary

European Assets Trust (EAT) aims to achieve long-term capital growth through investment in small and medium-cap companies in Europe (ex-UK). The investment approach is fundamental and bottom-up; EAT has a solid long-term track record and a high distribution policy underpins an attractive 5.2% yield. 2016 was a challenging year for EAT and NAV total return underperformed the index by 15.9pp. Since then, the performance has stabilised and the shares have returned to a modest premium to NAV (including income). The manager, Sam Cosh, is confident of the trust’s investment philosophy and process and is positive on the economic outlook.

Last updated on 10/07/2017

Key management

Sam Cosh, Fund manager

Company address

Exchange House
Primrose Street
London
EC2A 2NY
United Kingdom
0207 628 8000
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