20th Mar 2024 12:09
European Assets Trust PLC - London-based trust, which invests in small to mid-cap EU companies - Says its net asset value total return in 2023 was 8.2%, behind its 9.8% benchmark. The share price total return was 4.5% for 2023, and the firm also declared 5.90 pence per share dividend, up by 1.7% from 5.80p the year before. This is equivalent to 6% of the closing NAV per share at December 31. "We continue to have a positive outlook for the European Small and Mid-cap sector. Following two years of smaller company underperformance versus larger companies, valuations look attractive," says Chair
Jack Perry.
European Assets adds that following its "disappointing performance" in 2022, it initiated a review, in which a number of changes were made to its investment portfolio. Says that while it is early days since these changes were implemented, the initial results in the final quarter of 2023 and the start of 2024 are "encouraging."
Current stock price: 86.20 pence, untraded
12-month change: down 4.4%
By Sabrina Penty, Alliance News reporter
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