26th Apr 2018 16:26
LONDON (Alliance News) - European Assets Trust NV said Thursday its net asset value per share in its first quarter declined at a steeper rate than its benchmark.
Net asset value per share in sterling terms at the end of March declined 3.7% from the end of December, compared to its EMIX European Smaller Cos Index's decline of 3.4%.
It has declared a EUR0.88 dividend for the quarter, despite a return to the market volatility which it said was absent in 2017.
European Assets said it did well in January and in particular February, but March was negative as a number of its stocks delivered "disappointing" full-year results.
Nevertheless, the company said the outlook for smaller companies remains encouraging, with a profit recovery only just begun.
Shares were down 0.5% on Thursday at 1,221.95 pence each.
Related Shares:
European Assets Trust