Overview
Baillie Gifford European Growth Trust (formerly European Investment Trust : EUT) aims to achieve capital growth over the long term from a diversified portfolio of European securities.
The trust’s portfolio is constructed without any reference to the index and will not replicate it. The majority of the portfolio will be held in listed European equities however, up to 10% of total assets, as measured at the time of initial investment, can be invested in unlisted investments. The portfolio is managed for capital growth and any dividends paid to shareholders will be the minimum permissible to maintain investment trust status and be by way of a single annual payment.
QuotedData’s James Carthew wrote an article at the time Baillie Gifford werre awarded the management contract which can be accessed here
The website can be found here.
Fundamentals
Price
Research History
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17 Oct 2023 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2023
Third quarter of 2023 Investment Companies | Quarterly roundup | October 2023 Kindly sponsored by abrdn ‘Uncomfortable’ Following a fast start to the first half of the year, globally equities took a breather in Q3, as markets assessed the implications of the worst bond sell-off in a generation. Yields on 10-year US treasuries and UK […]
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13 Oct 2023 10 min read
QuotedData’s Investment Companies Roundup – October 2023
October 2023 Monthly roundup | Investment companies Kindly sponsored by abrdn Winners and losers in September 2023 September was defined by the ongoing US bond selloff, with global markets trending down in sympathy. Investment trust returns were negative on average for the month, although several sectors still achieved positive returns. The Royalties sector was the […]
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09 Feb 2023 9 min read
QuotedData’s Investment Companies Roundup – February 2023
February 2023 Monthly roundup | Investment companies Winners and losers in January 2023 In a month where winners far outweighed losers, once again Chinese funds feature amongst the best-performing investment companies over the month, taking many of the top slots. China has barrelled ahead with the reopening of its economy following the lifting of COVID-related […]
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07 Dec 2022 64 min read
QuotedData’s Economic and Political Monthly Roundup December 2022
Economic and Political Monthly Roundup Investment companies | Monthly | December 2022 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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05 Feb 2021 1 min read
QuotedData’s Round the World Webinar series – Europe day playback
On 3rd February 2021, QuotedData hosted the first of four Round the World webinars. This webinar was focused on Europe and included presentations and Q&As from 3 investment companies’ managers, covering markets across Europe. We would like to thank all of our speakers and attendees for joining us. Click on the links below to watch the […]
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04 Feb 2021 4 min read
QuotedData’s Round the World Webinar series – Europe day playback
On 3rd February 2021, QuotedData hosted the first of four Round the World webinars. This webinar was focused on Europe and included presentations and Q&As from 4 investment companies’ managers, covering markets across Europe. We would like to thank all of our speakers and attendees for joining us. Click on the links below to watch the […]
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15 Oct 2020 3 min read
QuotedData’s Growth Strategies Conference – playback
On the 14th October 2020 we hosted our Growth Strategies Conference webinar. The event showcased 4 investment trust managers investing across a range of investment themes with an overriding focus on growth. We would like to thank all our speakers and our attendees for joining us. Click below to watch the individual managers’ presentations – […]
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08 Jun 2020 7 min read
QuotedData’s Investment Companies Roundup – June 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over May: GCP Infrastructure – […]
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26 May 2020 1 min read
Growth strategies webinar
On Thursday 21st May we held our Growth Strategies webinar which showcased Baillie Gifford European Growth Trust, Fundsmith Emerging Equities Trust and Schroder Japan Growth Fund. The event is a pre-cursor to our postponed Growth Strategies conference which will now be held on 14th October 2020. Stephen Paice of Baillie Gifford, Michael O’Brien of Fundsmith […]
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17 Apr 2020 8 min read
QuotedData’s Investment Companies Quarterly Review – First Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research The legal bit Unprecedented times We have knitted […]
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10 Mar 2020 7 min read
QuotedData’s Investment Companies Roundup – March 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide New research Here is a list of research we published over February: An initiation note on Montanaro UK Smaller Companies Trust (MTU) […]
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07 Jun 2019 3 min read
QuotedData’s investment companies roundup – June 2019
Investment Companies Roundup New research Over May, we published notes on Shires Income, Standard Life Private Equity and The North American Income Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was notable that risk appetite was down in May as renewed […]
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19 Dec 2018 1 min read
QuotedData’s economic roundup – December 2018
QuotedData’s economic roundup – December 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any […]
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11 Jun 2018 2 min read
QuotedData’s Economic round up – June 2018
QuotedData’s Economic round up – June 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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14 Jun 2017 1 min read
QuotedData’s economic round up – June 2017
QuotedData’s economic round up – June 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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07 Dec 2016 1 min read
QuotedData’s round up of views on the global economy – December 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. december-economic-and-political-roundup
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27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
News
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15 May 2025 2 min read
QuotedData’s morning briefing 15 May 2025 – LMS, MYI, BSIF, BGEU, NAS, CREI, RGL
In QuotedData’s morning briefing 15 May 2025: We also have: Did you miss from yesterday?
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11 Oct 2024 3 min read
What’s growth got to do with it?
This week, we were reminded of the challenges that Europe faces, with Germany making the headlines for cutting its growth forecast for 2024 from an already meagre expansion of 0.3% to a contraction of 0.2%. If this comes to pass, it will be the second year in a row that Europe’s ‘motor for growth’ has […]
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20 Sep 2024 4 min read
Much more to Europe than dynamic duo
A lot has been made of the concentration in the US market, but the concentration of European markets has been less widely discussed. Just as the S&P 500 has been focused on a handful of large cap companies linked to a narrow theme, the MSCI Europe also has a significant weighting to Novo Nordisk and […]
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17 Nov 2023 7 min read
Baillie Gifford European Growth has 2nd difficult year
Baillie Gifford European Growth (BGEU) has published its annual results for the year ended 30 September 2023, during which it provided NAV and share price total returns of 8.3% and 8.6% respectively, but these were significantly behind its benchmark, the FTSE Europe ex UK Index, which it says returned 20.5% (all figures in sterling terms). […]
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28 Apr 2023 4 min read
QD view – Finding courage in uncertain times
Fortune favours the brave, or so they say, and, as it turns out, so do the markets. One of the most important factors in investing is simply being first to bat, as by the time your turn comes, the game could be already over. Putting aside the metaphors, there is a distinct possibility that we […]
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02 Dec 2022 4 min read
QD view – Investing in Europe at a time of recession
Recession now appears inevitable across much of Europe – and may already have started. A grim winter of potential fuel shortages and economic disruption looms. However, the impact for stock markets is not clear-cut. With a range of styles in the European sector, could one prevail over another in the tough year ahead? There has […]
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22 Nov 2022 1 min read
A reversal of fortune for Baillie Gifford European
Baillie Gifford European’s results for the 12 months ended 30 September 2022 show the impact of the change in sentiment towards growth investing on the company. Over the period, the NAV total return was -40.4% compared to a total return of -15.3% for its benchmark index. The share price total return for the same period […]
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24 Nov 2021 5 min read
Baillie Gifford European Growth reports positive year as region’s start-up ecosystem ‘booms’
Baillie Gifford European Growth reports positive year as region’s start-up ecosystem ‘booms’ – Baillie Gifford European Growth (BGEU) has published its annual results for the year ended 30 September 2021. Over this time, its NAV total return was 24% compared to a total return of 23% for the FTSE Europe ex UK Index (in sterling […]
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17 May 2021 2 min read
QuotedData’s morning briefing 17 May 2021
In QuotedData’s morning briefing 17 May 2021 – Baillie Gifford European Growth’s (BGEU’s) interim results to 31 March 2021 brought a total NAV return of 8.7%, which it says compared with a total return of 12.2% for the FTSE Europe ex UK index, in sterling terms. BGEU#s shareholder return over the same period was 11.7%. […]
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24 Mar 2021 2 min read
QuotedData’s morning briefing 24 March 2021
In QuotedData’s morning briefing 24 March 2021 – BMO Private Equity (BPET) announced that the software company, Dotmatics, in which it has a holding, has entered an agreement for its sale to US-based company Insightful Science. The transaction is expected to complete early in Q2. The investment is led by Scotland based growth equity investor […]
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02 Feb 2021 1 min read
QuotedData’s Round the World Webinar series – Europe day 3 February 2021
QuotedData will be hosting a Round the World webinar series each Wednesday in February. Each weekly event will include 3 – 4 managers focused on a specific region of the world who will present their companies and answer your questions. It starts tomorrow with the following line up. Week 1 – 3rd February – Europe, including managers […]
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30 Nov 2020 2 min read
QuotedData’s morning briefing 30 November 2020
In QuotedData’s morning briefing 30 November 2020: The Renewables Infrastructure Group raised £200m from its placing last week, and plans to issue 160m shares. The issue was oversubscribed. Technically, it might still not happen as the issue was done on the expectation that shareholders approve the issue of these shares at an EGM to be held […]
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22 May 2020 2 min read
It’s not the economy, stupid
Yesterday, Stephen Paice, co-manager of Baillie Gifford European Growth Trust, was one of the presenters at a webinar we held for professional investors centred on funds that have adopted a growth style of investing. Stephen was asked a few times yesterday about the macroeconomic influences on his portfolio – interest rates, inflation rates, trade wars […]
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18 May 2020 2 min read
Baillie Gifford European Growth reports first results since change of management
Baillie Gifford European Growth (BGEU) has posted interim results to 31 March 2020. Over the six month period, the company’s NAV total return was (10.0)% compared to a total return of (17.0)% for the FTSE Europe ex UK index, in sterling terms. The share price total return for the same period was (0.9)%. Over the four […]
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03 Feb 2020 1 min read
Surprise oversubscribe for BG European tender
Surprise oversubscribe for BG European tender – As part of the process of taking on the management of European Investment Trust, Baillie Gifford agreed to hold a tender to allow shareholders that did not want to remain in the trust an exit. In the event 21,528,812 ordinary shares, approximately 53.5% of the issued share capital, were […]
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28 Nov 2019 2 min read
European Trust results show why it moved manager
European Trust results show why it moved manager – European Trust, which recently appointed Baillie Gifford as its manager, has just published results covering the year ended 30 September 2019. They make for grim reading – over the period the trust returned -4.6% in NAV terms and -7.6% in share price terms. This compares to […]
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10 Oct 2019 3 min read
Baillie Gifford wins European Trust
Baillie Gifford wins European Trust – The board of The European Investment Trust has entered into heads of terms to appoint Baillie Gifford & Co Limited as the company’s new AIFM, company secretary and administrator. The company has given notice to terminate the appointment of Edinburgh Partners. The decision came after an extended run of poor […]
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23 May 2019 2 min read
QuotedData’s other news 23 May 2019
Ecofin Global Utilities and Infrastructure interims show an 8.5% return on NAV for the six months ended 31 March 2019. Dividends of 3.23p were declared and the discount has narrowed so that, on 20 May 2019, it stood at 11.3% (still wider than it would like). Hg Capital‘s share split – ten shares in exchange […]
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29 Nov 2018 2 min read
European Investment Trust underperforms compared to Index
European Investment Trust underperforms compared to Index- European Investment Trust plc (EUT) NAV total return for the year was -2.1% compared to the FTSE All-World Europe ex UK Index whose NAV for the year was 2.4%. Last year’s NAV was 29.9% which beat the benchmark last year by 7.3%. The share price discount to NAV […]
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17 Jan 2018 1 min read
Franklin Templeton snaps up Edinburgh Partners
Franklin Templeton Investments has announced that it has agreed, subject to the necessary regulatory approvals, to acquire Edinburgh Partners. Edinburgh Partners is an independent fund management house that is headed up by Dr. Sandy Nairn, a former Franklin manager. Dr. Nairn spent ten years at franklin Templeton, between 1990 and 2000, as an executive vice […]
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30 Nov 2017 3 min read
European Investment Trust rebounds with 30% return
European Investment Trust rebounds with 30% return – European Investment Trust says that, for the year ended 30 September 2017, its net asset value total return was 29.9%, compared with 22.6% for the All-World Europe ex UK Index. This outperformance was welcome after a period of underperformance last year. The discount narrowed from 13.4% to 12.3% leading to a share price […]
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30 Nov 2016 2 min read
European Trust underperforms as value style remains out of favour
Over the year to 30 September 2016, European Investment Trust’s NAV per share increased by 12.3% from 742.2p to 833.8p. After taking account of dividends paid in the year of 16.0p per share, the NAV total return was 14.9%. This compares with the total return of 21.8% from the fund’s benchmark. The share price increased by 7.4% […]
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26 Aug 2016 1 min read
New manager for The European Investment Trust
The Board of The European Investment Trust plc announces that Edinburgh Partners has appointed Craig Armour as portfolio manager for the Company in succession to Dale Robertson. Craig joined Edinburgh Partners in 2009. He is an Investment Partner and is responsible for managing several European equity portfolios. Prior to joining Edinburgh Partners he had a […]
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27 May 2016 2 min read
European IT’s managers say market’s focus on stable growth has driven underperformance
The European Investment Trust has announced its interim results for the year ended 31 March 2016. During the period, the trust provided an NAV total return of 2.2%, thereby underperforming FTSE All-World Europe ex UK Index, which returned 6.9% in sterling total return terms. The managers say that, in their view, the underperformance reflects a […]
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26 Nov 2015 4 min read
European Investment Trust has a difficult year
The European Investment Trust, managed by Edinburgh Partners, has released its annual results for the year ended 30 September 2015. The board describe the period as a more challenging one for investing in European equities, during which, the NAV per share of the trust fell by 7.3% from 800.41p to 742.20p. After taking account of dividends […]
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28 Nov 2014 1 min read
European Inv Trust takes defensive stance
EUT : European Inv Trust takes defensive stance European Investment Trust beat its benchmark, the FTSE World Europe ex UK Index, by 1.1% in total return terms over the year that ended on 30 September 2014, producing a return on net assets of 6.4%. Furthermore the discount narrowed from 10.9% to 6.5% and so the […]
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21 May 2014 1 min read
European Investment Trust : EUT – interims
European Investment Trust has published figures for the half year ended 31 March 2014 that show the net asset value total return for the period was 13.9% – some way ahead of the FTSE All-World Europe ex UK Index which returned 7.7%. the discount narrowed from 10.9% to 9.7% so the share price did even […]
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14 Dec 2013 1 min read
Miton Worldwide Growth : MWGT
Half year results to 31 October 2013 show an NAV uplift of 6.5% and an increase in the share price of 5.6%. MWGT’s benchmark is the return on Sterling LIBOR +2% (equal to 1.3% over the period – so MWGT comfortably outperformed its benchmark). MWGT’s return lagged that of the FTSE All-Share and MSCI World Indices […]
Upcoming Events
Videos
In The Press
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30 Dec 2024 1 min read
A dozen funds tipped to bounce back in 2025
by Jennifer Hill, from interactive investor, 30th December 2024: They say beauty is in the eye of the beholder and when it comes to investing it often pays to love the unloved. All investment strategies move out of favour or suffer setbacks from time to time – and holding your nerve means catching the rebound. […]
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29 May 2024 1 min read
Will ‘activist investors’ turn these trusts around?
by Dave Baxter, Investors’ Chronicle, May 29, 2024: When Elliott Investment Management cut its stake in Scottish Mortgage (SMT) below 5 per cent earlier this month, it’s likely to have prompted a sigh of relief from the trust’s board.. The case for activists Activists are not always a helpful presence for other shareholders given that […]
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18 Dec 2023 1 min read
Investment trust insider on 2023
Investment trust insider on 2023 – James Carthew: Dramatic 2023 leaves sector radically different The rationalisation of the sector continues. There has been a flurry of announcements over the past couple of weeks: Abrdn Diversified Income and Growth (ADIG) announced a managed wind down; Triple Point Energy Transition (TENT) declared it will begin an orderly […]
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03 Nov 2022 1 min read
The European trusts on the biggest discounts relative to their recent history
By Tom Aylott, Reporter Trustnet, 2 November 2022: Many trusts have been struck by soaring inflation and tightening monetary policies this year, but those investing in European equities have been particularly battered. The war in Ukraine and lost gas imports from Russia have compounded to create a challenging market environment for European investors. As a […]
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14 Jun 2022 1 min read
Bargain Hunter: Baillie Gifford trusts are cheap, time to buy?
by Kyle Caldwell, interactive investor, 14th June 2022: 11 Baillie Gifford trusts are trading on wider-than-usual discounts. We ask analysts whether this is an opportunity for brave investors to pick up bargains… With inflation levels soaring and interest rates on the rise, growth companies, including tech firms, have fallen out of favour. Instead, investors have […]
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21 Apr 2022 1 min read
Discover the best and worst performing investment trusts so far in 2022
James Crux, Shares Magazine, 21 April 2022: Rising interest rates since the turn of the year, runaway inflation and Russia’s shocking invasion of Ukraine have shaken the investment kaleidoscope in 2022 and forced many investors to reposition portfolios for an increasingly uncertain world… COMMODITIES TRUSTS IN DEMAND Precipitated by the supply/demand imbalances caused as global […]
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21 Jan 2022 1 min read
WI Daily: Share splits and investors
Rory Palmer, What Investment, 18 Jan 2022: Near the end of last year, I was told that my shares in Henderson EuroTrust had been subdivided after the board announced a reorganisation of the company’s share capital. As a relatively new investor, this was a first. I knew it was an option trusts could exercise, but I wanted […]
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23 Dec 2021 1 min read
The European trusts on the biggest discounts or premiums
By Eve Maddock-Jones, Reporter, Trustnet, 16 December 2021 Trustnet looks at which European investment trusts are trading below their five-year average discount/premium level and which ones are running well ahead of the norm… The European market has been a strong performer over the long term, with the MSCI Europe index generating returns of 147.9% over […]
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1 min read
The Investment Trusts Handbook 2022: All Change, Please
JAMES CARTHEW explores when and why boards choose to change their fund manager. In my opinion, one of the greatest strengths of the investment companies industry is its system of governance. Boards of independent directors work for and on behalf of investors. Boards’ ability to fire underperforming managers helps to keep these managers on their […]
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06 Sep 2021 1 min read
Established outperformer or new kid on the block
BlackRock Greater Europe Trust versus Baillie Gifford European Growth Trust 03 September 2021, Trustnet, Eve Maddock-Jones European stocks have soared in 2021 so far on the back of the global value rotation, but for investors looking to buy into the market, there is a difficult choice to make between a new hotshot and an established performer. […]
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19 Jul 2021 1 min read
The investment trusts readers have been studying
The surprising investment trusts Trustnet readers have started researching By Rory Palmer, Reporter, Trustnet 16 July 2021 Baillie Gifford has dominated the most-researched investment trusts by readers in 2021 but previously unheralded names such as Geiger Counter, Miton UK MicroCap and Canadian General Investments have seen the greatest surge, according to the latest figures. Comparing page […]
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07 Dec 2020 1 min read
Investment trust insider on Baillie Gifford European
Investment trust insider on Baillie Gifford European – James Carthew: great start at Baillie Gifford European Growth About a year ago, I wrote an article on Baillie Gifford European Growth (BGEU) just as the new management team was preparing to get hold of the former European (EUT) portfolio after its manager Edinburgh Partners was dismissed. The revamped trust has got […]
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16 Oct 2020 1 min read
Baillie Gifford backs Swedish battery cell maker
Baillie Gifford backs Swedish battery cell maker as European Growth trust makes first private investment Northvolt founded by Tesla alumni David Brenchley, Investment Week, 14 October 2020 Baillie Gifford’s investment into battery cell supplier Northvolt has become its European Growth Trust’s first foray into unlisted stocks, manager Stephen Paice has revealed. The Edinburgh-based firm was […]
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04 Feb 2020 1 min read
Baillie Gifford ‘still has work to do’ to win over European Growth Trust investors
Baillie Gifford ‘still has work to do’ to win over European Growth Trust investors Oversubscribed tender offer Investment Week, David Brenchley, 04 February 2020 Baillie Gifford still has a lot of work to do to win over investors in its European Growth Trust, according to analysts, after more than half of its shareholder base said […]
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27 Nov 2019 1 min read
Investment trust insider on Baillie Gifford European
Investment trust insider on Baillie Gifford European – James Carthew: why I like the look of the revamped European Baillie Gifford’s stable of investment companies has expanded in recent years. Last week I met the managers of its latest addition, European Investment Trust (EUT), which is shortly to be renamed Baillie Gifford European Growth (BGEU) when […]
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15 Oct 2019 2 min read
Investment trust insider on changing managers
Investment trust insider on changing managers – James Carthew: when fund managers just have to go Over the past few weeks, we have seen a rush of boards removing or threatening to remove fund managers. I have said many times in the past that this is one of the great strengths of the investment trust model. […]
