20th Nov 2020 14:08
Montanaro European Smaller Companies Trust PLC - Edinburgh-headquartered investment trust - Net asset value per share 1,434.6 pence as at September 30, up 31% from 1,094.1p the year before up 50% from 956.9p on March 31. NAV rise beats benchmark, the MSCI Europe SmallCap index, excluding the UK, which rose 33% in the six months ended September. Maintains interim dividend at 2.0p per share.
Chair Richard Curling: "In spite of the strong rebound in markets there remains considerable uncertainty about the ongoing impact of the Covid-19 virus. In addition, it would be remiss not to highlight the extraordinary run that 'growth' style investing (which your company follows) has had relative to 'value' investing and that at some stage this may reverse. The board believes that the risk of this is best mitigated by sticking to investing only in quality companies and having a long-term investment horizon."
Current stock price: 1,460.00p
Year-to-date change: up 30%
By Anna Farley; [email protected]
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