Montanaro European Smaller Companies has published results for the year ended 31 March 2025. The NAV return lagged that of the MSCI Europe ex-UK SmallCap Index benchmark, returning -1.1% to the index’x 1.3%. However, discount narrowing (from 13.7% to 8.3%) meant that shareholders got a return of 5.1%. During the year, the company bought back … Continue reading Montanaro European shareholders benefit from discount narrowing