25th Feb 2021 16:08
European Opportunities Trust PLC - European securities investor - Net asset value per share falls 4.7% to 779.15 pence on November 30, the end of the trust's half-year, from 817.72p on May 31. Lags considerably behind benchmark, the NAV total return with dividends added back being negative 4.3% compared to benchmark the MSCI Europe Index's positive 11.1% total return. Chair Andrew Sutch notes that the six-month performance "was particularly undermined by our former exposure to Wirecard AG".
"The outlook for European economies and markets remains uncertain, particularly given the resurgence of Covid-19 cases during the winter period. However, there is hope that in 2021 the distribution and efficacy of vaccines will help economies around the world recover from the damaging effects of the virus experienced in 2020," says Sutch.
He adds: "We are confident that the Investment Manager has the necessary experience, resources and intent to navigate successfully through the vicissitudes of the post-Covid investment world."
Current stock price: 693.00p
Year-to-date change: down 4.9%
By Anna Farley; [email protected]
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