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European Investment Trust (The) (EUT)

Business description

The European Investment Trust (EUT) aims to achieve long-term capital growth through a diversified portfolio of continental European securities. The trust was launched in 1972 and management was transferred to Edinburgh Partners on 1 February 2010 following a tender process. The manager follows a disciplined, long-term value approach. The trust has an indefinite life and is not subject to a periodic continuation vote.

Stock data

Market cap.£369.6m
Last close890.00p
High / Low (52 weeks)974.0p / 866.0p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment Companies

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Company news

Investment summary

The European Investment Trust (EUT) adopts a strict valuation-based investment approach to construct a relatively concentrated portfolio of stocks that can be held for the long term. Manager Craig Armour says that monetary conditions are slowly normalising following the extreme policies adopted as a result of the global financial crisis. He believes that this process will lead to an increase in stock market volatility, which will in turn lead to a greater investor focus on company valuations. Armour has been selectively adding attractively priced new positions to EUT’s portfolio across a range of industries. However, on balance he has been taking some risk off the table by reducing the fund’s cyclical exposure.

Last updated on 21/06/2018

Key management

Craig Armour, Fund manager
Kenneth Greig, Legal Director
Jamie Mackintosh, Client Service & Sales Partner

Company address

Beaufort House
51 New North Road
Exeter
EX4 4EP
United Kingdom
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