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Contact details

ManagerGroupLogo
201 Bishopsgate, London, EC2M 3AE
0845 608 8703 (Dealing)
0800 832 832 (Main Number)

Support@henderson.com

Fund managers

* Ollie Beckett»01-Jul-2011 to Present
Stephen Peak»01-Jan-1990 to 30-Jun-2011


Investment objectives

The Company’s objective is to achieve capital growth, aiming for a net asset value total return greater than the benchmark, which is a blend of 50% of the return of the HSBC Smaller Europe (ex UK) Index and 50% of the return of the S&P/Citigroup EMI Europe (ex UK) Index (both expressed in sterling) by investing predominantly in smaller and medium sized companies in Europe (excluding UK).

Key Information

Fund vs sector

  1y 3y
Position 1 / 4 2 / 4
Quartile 1 2

Fund ratings

FE Crown Rating: 2 FE
Crown Rating
(Quantitative)

Ratios

  1y 3y
Volatility 10.23 23.71
Alpha 19.45 -2.64
Beta 0.88 1.25
Sharpe 4.57 0.37
InfoRatio 2.67 -0.05
R2 0.69 0.91
Quartiles:   1  2   3  4   help with ratios
vs. European Smaller Companies»

Performance

performance chart
chart
    1y 3y 5y 12m-24m 24m-36m 36m-48m 48m-60m
+51.6 +41.5 +146.6 +24.8 -25.2 +4.1 +67.3
  NAV +41.5+30.0+131.1+14.9 -20.0+11.7+59.2
  European Smaller Companies +32.4+40.4+164.4+30.4-18.7+19.1+58.1
Share Price
 ShareTypePriceDatePrem/DiscDiluted NAVGearingDiv yield
EstimLast pub.NetGross
pdf TR EUROPEAN GROWTH TRUST PLC UNIT 585.75 (p) 17-Apr-2014 -9.00 643.69 636.10
16-Apr-2014
111 1.02 1.02
Capital structure & income
Share Type Exchange Nominal value Issued Market value (m) Wind-up date Splits News
TR EUROPEAN GROWTH TRUST PLC UNIT LONDON 13 49,976,000 292.73 n/a n/a company announcements
Share identifiers: TIDM: TRG; SEDOL: 0906692; ISIN: GB0009066928
Detailed fund information
Fund type flag United Kingdom-registered Investment Trusts
Launched1990
Gross assets£356.1m / $597.7m
Sector European Smaller Companies
Asset ClassEquity
Own ISA wrapper Fund has ISA Wrapper help with ISA
Savings plan Fund has Savings Plan Minimum: £ 50.0 Monthly
Annual accountsannual (Click to order)
Last report / accounts26-Feb-2014
Last AGM11-Nov-2013
Next AGMNovember 2013
EGM18-Aug-2010
Stockbroker(s)Winterflood Investment Trusts
Management contractHenderson will provide investment management, accounting, company secretarial and general management services for an annual charge of 0.5% of its total net assets. At Hendersons request, the termination period has been reduced from one year to six months. The notice period of termination can be reduced to three months if shareholders vote to wind up the Company at one of the regular continuation votes. A performance fee has been accrued on a full year effect of rewarding the Manager, under the terms of the Management Agreement, for outperformance achieved in the first six months of the respective performance fee period. The performance fee is set at 15% of the outperformance, subject to the total management fee and performance fee not exceeding 2.4% of the income inclusive net asset value of the Company as at close of business on the last day of the accounting period ending June 2006.
Borrowing limitBorrowing must not exceed adjusted capital & reserves.
Continuation / Wind-up provisionShareholders voted to continue as a Company at the EGM on 20/04/2005. Shareholders will next consider the continuation of the Company at the AGM of the Company to be held on 2010. The Company has the authority to buyback up to 14.99% of its issued share capital. The Board seeks to limit the discount to NAV at which the Company's shares trade at a level significantly below 6.5%. Should the average discount exceed this amount for a certain period, the Company will offer to repurchase shares or tender up to 10% of shares. At the EGM held on 02-Nov-09 the resolution to authorise the Company to buy back up to 6,447,585 Ords in connection with a tender offer was approved.
Dividend policyn/a
Investment restrictionsn/a
Reconstruction proposaln/a
Settlement detailsn/a
Tax policyn/a
Peer groups
Region Asset Class Investment Focus Sector
Europe Ex UK Equity Mixed European Smaller Companies
Largest holdings, 31-Mar-2014
Holding (%) Rank Holding (%) Rank
BRAINLAB2.301ASM INTERNATIONAL NV1.306
INFICON HLDG AG1.502COMET1.307
21 CENTRAL PARTNERS III1.403LETS GOWEX SA1.208
CIE D'ENTREPRISES CFE1.304DFDS1.209
BE SEMICONDUCTOR INDUSTRIES NV1.305STOLT-NIELSEN LTD1.2010
 Total14.00 
Regional weightings, 31-Mar-2014
Region (%) Rank  
Germany 24.50 1 24.50% Germany
France 14.00 2 14.00% France
Switzerland 12.00 3 12.00% Switzerland
Others 10.60 4 10.60% Others
Italy 9.50 5 9.50% Italy
Netherlands 5.50 6 5.50% Netherlands
Spain 5.20 7 5.20% Spain
Norway 5.10 8 5.10% Norway
Sweden 4.80 9 4.80% Sweden
Austria 4.50 10 4.50% Austria
Denmark 4.30 11 4.30% Denmark
Total100.00 
Sector weightings, 30-Aug-2013
Sector (%) Rank  
Industrials 21.50 1 21.50% Industrials
Technology 15.20 2 15.20% Technology
Financials 14.90 3 14.90% Financials
Business Services 13.40 4 13.40% Business Services
Basic Materials 13.00 5 13.00% Basic Materials
Consumer Goods 11.30 6 11.30% Consumer Goods
Retail 9.50 7 9.50% Retail
Resources 1.20 8 1.20% Resources
Total100.00 


All prices in Pence Sterling (GBX) unless otherwise specified. Price total return performance figures are calculated using closing mid prices and with net income (dividends) reinvested. NAV total return performance figures are calculated using fully diluted (where applicable) daily estimated NAV figures from Thomson Financial Datastream and with gross income (dividends) reinvested.

 
 
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Asset allocation

German Equities, 24.50%
24.5000% ofGerman Equities
French Equities, 14.00%
14.0000% ofFrench Equities
Swiss Equities, 12.00%
12.0000% ofSwiss Equities
International Equities, 10.60%
10.6000% ofInternational Equities
Italian Equities, 9.50%
9.5000% ofItalian Equities
Dutch Equities, 5.50%
5.5000% ofDutch Equities
Spanish Equities, 5.20%
5.2000% ofSpanish Equities
Norwegian Equities, 5.10%
5.1000% ofNorwegian Equities
Swedish Equities, 4.80%
4.8000% ofSwedish Equities
Austrian Equities, 4.50%
4.5000% ofAustrian Equities
Danish Equities, 4.30%
4.3000% ofDanish Equities

Sector analysis

Charting

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