Overview
European Opportunities Trust (formerly Jupiter European Opportunities : JEO) objective is to invest in securities of European companies and in sectors or geographical areas which are considered by the Investment Manager to offer good prospects for capital growth, taking into account economic trends and business development.
The investment manager adopts a stock picking approach. He seeks companies where the ownership structure and incumbent management are conducive to achieving superior long-term earnings growth. He likes strong management records and teams and management with the ability to explain and account for its actions. Proprietary technology and other factors which indicate a sustainable competitive advantage and a reasonable expectation of long-term growth of demand for products or services are seen as attractive as is a belief, by the manager that structural changes are likely to benefit rather than negatively impact the company’s prospects.
you can access its website here
We have written a note that seeks to explain the workings of the trust
‘Special’ growth companies was published on 1 November 2023
Fundamentals
Price
Research History
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22 Oct 2024 29 min read
European Opportunities Trust – Geared to growth, built in resilience
Geared to growth European Opportunities Trust (EOT), the most growth-focused of its peers, has posted decent absolute returns during the last couple of years but has been held back by its strong growth focus in an environment where inflation has been more stubborn than anticipated. There are signs that this is now changing and, if […]
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29 min read
European Opportunities Trust – Geared to growth, built in resilience?
Geared to growth European Opportunities Trust (EOT), demonstrably the most growth-focused of its peers (see page 18), has posted decent absolute returns during the last couple of years but appears to have been held back by its strong growth focus in an environment where inflation has been more stubborn than markets have anticipated. There are […]
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30 min read
European Opportunities Trust – Geared to growth, built in resilience
Geared to growth European Opportunities Trust (EOT), the most growth-focused of its peers, has posted decent absolute (positive) returns during the last couple of years but has been held back by its strong growth focus in an environment where inflation has been more stubborn than anticipated. The associated higher interest rates tend to impact growth […]
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01 Nov 2023 38 min read
European Opportunities Trust – ‘Special’ growth companies
European Opportunities Trust Investment companies | Initiation | 1 November 2023 ‘Special’ growth companies With its strong focus on growth, European Opportunities Trust (EOT) has faced significant headwinds during the last couple of years as, in the face of higher inflation and interest rates, investors have favoured more value and defensive exposures over growth stocks. Inflation […]
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38 min read
European Opportunities Trust – ‘Special’ growth companies
European Opportunities Trust Investment companies | Initiation | 1 November 2023 ‘Special’ growth companies With its strong focus on growth, European Opportunities Trust (EOT) has faced significant headwinds during the last couple of years. Inflation now seems to be coming under control, but with growing signs of a recession in Europe, sentiment is poor. Consequently, valuations […]
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38 min read
European Opportunities Trust – ‘Special’ growth companies
European Opportunities Trust Investment companies | Initiation | 1 November 2023 ‘Special’ growth companies With its strong focus on growth, European Opportunities Trust (EOT) has faced significant headwinds during the last couple of years. Inflation now seems to be retreating, but with growing signs of a recession in Europe, sentiment appears to be poor. Valuations of […]
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09 Mar 2023 64 min read
QuotedData’s Economic and Political Monthly Roundup March 2023
Economic and Political Monthly Roundup Investment companies | Monthly | March 2023 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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06 Oct 2022 111 min read
QuotedData’s Economic and Political Monthly Roundup October 2022
Economic and Political Monthly Roundup Investment companies | Monthly | October 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 […]
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07 Jul 2020 7 min read
QuotedData’s Investment Companies Roundup – July 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research 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 June: CQS New City High Yield – […]
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19 Jun 2020 1 min read
QuotedData’s weekly roundup 19 June 2020
James Carthew’s weekly news roundup show for Friday, 19 June, covers investing in batteries, Tritax Big Box REIT’s new shed for Amazon, the potential demise of Gabelli Value Plus+ (we always hated the ‘+’), why Lindsell Train’s managers should have taken the performance fee that they earned and European Opportunities big loss on Wirecard. It also […]
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10 Mar 2020 6 min read
QuotedData’s Economic Roundup – March 2020
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz 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 […]
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07 Feb 2020 7 min read
QuotedData’s Investment Companies Roundup – February 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford 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 January: An annual overview note on Shires Income (SHRS) “Shires Income (SHRS) will […]
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07 Oct 2019 6 min read
QuotedData’s economic roundup – October 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz 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 […]
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08 May 2019 3 min read
QuotedData’s investment companies roundup – May 2019
Investment Companies Roundup New research Over April, we published notes on Henderson Diversified Income, Ecofin Global Utilities and Infrastructure, Jupiter Emerging and Frontier Income, Seneca Global Income & Growth and Polar Capital Global Financials 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 […]
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22 Mar 2019 2 min read
QuotedData’s economic roundup – March 2019
QuotedData’s economic roundup – March 2019 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 […]
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13 Nov 2018 1 min read
QuotedData’s economic roundup – November 2018
QuotedData’s economic roundup – November 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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14 Sep 2018 1 min read
QuotedData’s investment companies roundup – September 2018
QuotedData’s investment companies roundup – September 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in August GRIT Real Estate Income floated on the UK Stock Exchange in […]
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13 Mar 2018 1 min read
QuotedData’s Economic round up – March 2018
QuotedData’s economic round up – March 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 […]
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07 Mar 2018 1 min read
QuotedData releases 2018 Investment Companies Guide
QuotedData has released the 2018 edition of its highly-regarded Investment Companies Guide. Building on the success of last year’s publication and updated to reflect developments within the sector, the Guide harnesses QuotedData’s wide-ranging distribution capabilities to reach over 100,000 self-directed investors and their advisers. Two versions: In PDF 2018 Investment Companies Guide Final Version Or Accessed Via […]
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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10 Jul 2017 1 min read
Analyst Presentation Series – The QuotedData guide to quoted investment companies
Next event: Part 3 webinar/conference call Tuesday 5 September 2017 at 2pm QuotedData’s analysts are making a series of presentations based on our guide to investment companies. These are free, open to all and can be accessed either over the internet as a ‘webinar’ (see link below) or via a conference call (see below for dial-in details). To […]
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31 Jan 2017 1 min read
QuotedData – 2016 review of the year
Our review of 2016 includes performance data, significant moves in discounts and premiums, money raised and money handed back, major news stories and links to the research we have published including our guide to investment companies. 2016 Annual roundup
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02 Nov 2016 1 min read
QuotedData’s guide to analysing and selecting quoted investment companies
The QuotedData independent guide to investment companies aims to help investors and financial advisers better understand investment companies and help them make better informed investment decisions. We hope that the guide will help clarify the jargon that appears in many of the communications from the investment world. It is designed to build investors’ knowledge, starting […]
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13 Oct 2016 1 min read
QuotedData’s round up of views on the global economy – October 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. october-economic-and-political-roundup
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1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
News
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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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12 min read
European Opportunities hampered slightly by sentiment towards small and mid caps
European Opportunities (EOT) has published its annual results for the year ended 31 May 2024, during which it provided NAV and share price total returns of 15.5% and 16.5% respectively, which compare to a total return of 17.3% from its benchmark, the MSCI Europe Index, of 17.3% (all in sterling terms). The manager notes that […]
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12 Jul 2024 4 min read
QD View – Spotlight on democracy
Around half of the world’s population, some 4 billion people, will have the opportunity to go to the polls for national elections in 2024. For many, it’s the first chance to have a say since the COVID-19 pandemic and comes at a time when disaffection among voters has reached record highs. The consequences of this […]
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09 May 2024 2 min read
QuotedData’s morning briefing 9 May 2024 – SONG, DGN, AWEM, EOT, GSEO, THRL, AIRE, SOHO, SMT
In QuotedData’s morning briefing 9 May 2024: Concord Bidco, the bidding vehicle for the Alchemy/Concord Chorus bid for Hipgnosis (SONG), says that its offer of $1.25 per Hipgnosis share is final and will not be increased. [QD comment: as we suspected, Concord was unable/unwilling to better Blackstone’s $1.30 bid, which at the current exchange rate […]
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29 Feb 2024 3 min read
European Opportunities capitalises on the Novo Nordisk rally to beat the market
European Opportunities (EOT) has released its interim results for the half year ended 30 November 2023. Selected highlights as follows: EOT generated a NAV total return of 4.3% over the period and a share price total return of 7.7%. Both of these represent an outperformance relative to EOT’s benchmark, the MSCI Europe Index, which returned […]
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31 Jan 2024 2 min read
Results of European Opportunities Trust’s tender offer
European Opportunities Trust (EOT) announced the results of its tender offer to purchase up to 25% of the company’s ordinary shares in issue (you can read about the original announcement here). The offer was taken up in full and, after taking account of roundings, the company will purchase a total of 24,074,030 shares at the […]
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12 Jan 2024 5 min read
QD view – Should I stay or should I go?
Tuesday this week (9 January), saw the announcement that Ben Whitmore, a star investment manager at Jupiter focused on value equities, would be leaving to set up his own investment management firm. This is no small development for Jupiter as Ben is a popular manager responsible for a significant portion of the firm’s AUM (he […]
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08 Dec 2023 5 min read
QD view – your vote will count in Arb fight
Discounts in the investment trust sector are almost double their average[1], with the combination of cost disclosure rules and rising interest rates creating widespread selling pressure. It is perhaps not surprising that this has caught the attention of activist investors who spot an opportunity. Saba Capital is the latest arbitrageur on the block, thought to […]
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05 Dec 2023 3 min read
European Opportunities Trust confirms tender offer
European Opportunities Trust has confirmed that the company will undertake a tender offer for up to 25% of the issued share capital of the company. The offer, which is subject to shareholder approval, is being made at a tender price equal to a 2% discount to the prevailing NAV as at the calculation date, less […]
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15 Nov 2023 1 min read
European Opportunities passes continuation vote
The board of European Opportunities Trust says that it welcomes the passing of all resolutions, while acknowledging that significant votes, ranging between 15% and 25% of the issued share capital, were cast against the directors’ remuneration policy, the directors’ remuneration report, the re-elections of directors and the company’s continuation as an investment trust. Much of […]
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08 Nov 2023 2 min read
European Opportunities Trust responds to Saba Capital Management
European Opportunities Trust has responded to a letter published by Saba Capital Management regarding its opposition to EOT’s proposed tender offer. The board believes that the 50% tender offer suggested by Saba would not be in the best interests of the majority of shareholders and affirms its position in recommending that a 25% tender offer […]
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23 Oct 2023 1 min read
Saba Capital to vote against continuation at European Opportunities
US activist investor Saba Capital has made its first public move against a UK-listed investment company, writing an open letter to the board of European Opportunities trust. It says that it intends to vote against the conditional tender offer that the trust has proposed and against the continuation of the trust. [Despite its 5% stake, […]
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13 Oct 2023 1 min read
QuotedData’s weekly news update 13th October 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • European Opportunities (0:26) • GoreStreet Energy Storage (4:26) • Chrysalis (9:54) This week’s interview was with James de Uphaugh from Edinburgh Investment Trust – […]
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12 Oct 2023 2 min read
European Opportunities proposes conditional tender offer
The board of European Opportunities Trust intends to introduce a performance related tender offer. This follows an extensive shareholder consultation exercise ahead of the forthcoming continuation vote to be proposed at the annual general meeting on 15 November 2023. Proposed conditional tender offer details If the company’s net asset value total return does not equal or […]
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22 Sep 2023 2 min read
EOT’s annual results are positive, albeit shy of the market
European Opportunities Trust (EOT) has released its annual report for the financial year ending 31 May 2023. Over the 12 month period EOT reported a NAV total return of 3.3% and share price total return of 5.0%, this represents an underperformance versus its benchmark, the MSCI Europe Index, which returned 6.9%. This underperformance can be […]
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24 Feb 2023 2 min read
QuotedData’s morning briefing 24 February 2023 – EOT, NAVF, CRC, GRIT
European Opportunities Trust ( EOT) posted a 0.4% fall in NAV for the 6 months to 30 November 2022, underperforming its benchmark, the MSCI Europe Total Return Index, which grew 2.1%. Over the past 6 months the discount, which was 13.8% at the last close, has generally been outside the board’s desired parameters. Management believes […]
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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 Sep 2022 6 min read
European Opportunities investors hit by widening discount
European Opportunities trust has just published results for the 12 month period ended 31 May 2022. [That is quite a lag for a trust of this size, we’ve seen some results for periods ending 31 July in recent days, we aren’t sure why this one was so delayed.] During the twelve months to 31 May […]
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28 Feb 2022 3 min read
QuotedData’s morning briefing 28 February 2022
In QuotedData’s morning briefing 28 February 2022: European Opportunities (JEO) has posted its interim results for the six months to 30 November 2021, during which time its NAV (with dividends reinvested) increased by 12.8% while its share price (with dividends reinvested) increased by 9.9%. This compares with a return of 3.8% from the MSCI Europe […]
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23 Nov 2021 1 min read
QuotedData’s morning briefing 23 November 2021
In QuotedData’s morning briefing 23 November 2021: Will Wyatt will step down as chief executive of Caledonia Investments (CLDN) in July next year. Will’s successor is Mathew Masters, currently head of Caledonia quoted equity. Mat will join the board as chief executive designate on 1 April 2022. Before joining Caledonia in 2005, Mat worked at […]
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23 Sep 2021 4 min read
European Opportunities results overshadowed by Wirecard
European Opportunities results overshadowed by Wirecard – European Opportunities has published results for the year ended 31 May 2021 and they don’t look good. Over the period, the trust returned 1.2% in NAV terms and 0.1% in share price terms. This compares to a return on the MSCI Europe Index of 24.6%. The dividend was […]
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24 Sep 2020 5 min read
European Opportunities talks about Wirecard
European Opportunities talks about Wirecard – European Opportunities Trust has published results for the year ended 31 May 2020. The trust beat its benchmark, returning 0.1% against -1.9% for the MSCI Europe. However, a widening of the discount left shareholders with a return of -6.9%. In many ways though, all the ‘excitement’ happened after the year […]
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18 Jun 2020 1 min read
Wirecard revelations hit Darwall’s European Opportunities Trust
Revelations that the German payment company, Wirecard, cannot account for €1.9bn of cash on its balance sheet have hit Alexander Darwall’s European Opportunities Trust hard. Darwall has been a longstanding investor in Wirecard and it is the trust’s largest holding. Wirecard’s shares crashed after its auditor Ernst & Young refused to sign off its accounts, […]
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03 Oct 2019 2 min read
Jupiter European confirms manager change
Jupiter European confirms manager change – Since the announcement on 1 July 2019 regarding Alexander Darwall’s intention to establish a new investment management company, Devon Equity Management Limited, the board of Jupiter European Opportunities has undertaken a consultation with major shareholders and also appointed a firm of specialist professional advisers to conduct a due diligence exercise […]
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02 Jul 2019 1 min read
Jupiter European manager heads for exit
Jupiter European manager heads for exit – Jupiter Fund Management and portfolio manager Alexander Darwall have spoken to the board of Jupiter European Opportunities Trust about the future management of the trust. Alexander Darwall has taken preparatory steps to launch a new investment management company, Devon Equity Management Limited, to be based in London. He is […]
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01 Apr 2019 2 min read
Jupiter’s Alexander Darwall to focus on European Opportunities
Jupiter’s Alexander Darwall to focus on European Opportunities – will hand over £7.7b open-ended funds – Investors in Jupiter European Opportunities trust (JEO) are likely to welcome today’s announcement that the trust’s manager, Alexander Darwall, is relinquishing control of Jupiter’s £5.3b and £2.4b European and European Growth open-ended funds to focus on JEO. Jupiter are […]
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02 Oct 2018 2 min read
Jupiter European pays £13m performance fee
Jupiter European pays £13m performance fee – During the twelve months to 31 May 2018, the total return on Jupiter European Opportunities’ net asset value was 10.2%. This compares with a return of 0.9% on the benchmark index and a total return on the middle market price of 11.3%. During the financial year to 31 May 2018 a […]
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28 Sep 2017 2 min read
Jupiter European sticking with Novo Nordisk
Jupiter European sticking with Novo Nordisk – Jupiter European Opportunities says that, for the financial year to 31 May 2017, its total return on net assets was 30.5%, which compares with 35.7% for the benchmark. The total return on the shares was 30.6%. There is a 6.5p dividend. The manager says that the underperformance is partly explained by sector weightings – […]
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22 Feb 2017 2 min read
Jupiter European has difficult first half
Over the six months to 30 November 2016 the Net Asset Value per share of Jupiter European Opportunities rose by 1.2 per cent. This performance was behind the return on the benchmark index, which increased by 10.9 per cent. over the same period. It would be tempting to attribute this short period of underperformance to […]
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20 Sep 2016 2 min read
Jupiter European outperforms again
Jupiter European Opportunities’ results for the year ended 31 May 2016 have been published. The total return on the net asset value per share was 0.8 per cent. during the twelve months under review, which compares with a fall of 3.7 per cent. in the Company’s benchmark, the FTSE World Europe ex UK Index during […]
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06 May 2016 2 min read
JPMorgan Elect results show small falls in NAVs
JPMorgan Elect has published its interim results. For the half year ended 29th February 2016, the total return on the company’s net assets was -1.3% for the Managed Growth portfolio and -1.1% for the Managed Income portfolio. The total return on the Managed Cash portfolio was +0.3%. The Managed Growth portfolio has delivered a total […]
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28 Apr 2016 1 min read
Investors shun European trusts amid growth fears
Discounts on European investment trusts have widened as worries over the continent weigh on investors. you can read the full article here
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05 Feb 2016 2 min read
Further outperformance from Jupiter European Opportunities
Jupiter European Opportunities published its interim results on 4 February. Over the six months to the end of November 2015, the total return on net assets was 3.1%, well ahead of the -4.7% returned posted by the FTSE World Europe ex UK index. Demand for the company’s shares (£35m worth of new shares were issued […]
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16 Sep 2015 2 min read
Jupiter European Opportunities manager gets well deserved performance fee
Jupiter European Opportunities reports its annual results for the year ended 31 May 2015. Over the year its net asset value rose by 21.1% and the share price by 19.8%, a superb results when compared to the FTSE World European ex UK Index which rose by 4.7%. There is a dividend of 3.8p. The performance was […]
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27 May 2015 1 min read
Jupiter European Smaller edges ahead
Jupiter European Smaller Companies has announced results for the year ended 31 March 2015. The headline figures aren’t exciting – the net asset value total return was 0.3% which compares to a 0.1% return on the fund’s benchmark and a -1.4% return to shareholders as the discount widened slightly. The total dividend for the year […]
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29 Jan 2015 1 min read
Onwards and upwards for Jupiter European
Jupiter European Opportunities has announced interim results for the six months to the end of November 2014. The fund outperformed its benchmark, delivering a 3.4% return on NAV as compared to a 0.4% fall in the FTSE Word Europe ex UK Index. The shares moved from trading at a small premium to trading at a […]
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11 Oct 2014 1 min read
Jupiter Primadona discount narrowing offsets underperformance
JPG : Jupiter Primadona discount narrowing offsets underperformance Jupiter Primadona Growth has published its results for the year that ended on 30 June 2014. Over the year it generated a return on net assets of 9.7%, underperforming its benchmark, but shareholders did much better than that as the rating on the fund improved significantly, eliminating the […]
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05 Sep 2014 1 min read
Jupiter European lags benchmark
JEO : Jupiter European lags benchmark Jupiter European Opportunities Trust has published its results for the year ended 31 May 2014. Over that period the net asset value rose by 11.8% vs. 13.4% for the FTSE World Europe ex UK Index. The company’s share price rose by 12.2%. The fund is paying a maintained dividend […]
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27 Jan 2014 1 min read
Jupiter European Opportunities : JEO – half year report
Jupiter European has released results for the half year to 30 November 2013. Over the period the fund lagged the return on the FTSE World Europe ex UK index – the NAV returned 3.6% while the index returned 6.8%. The Board say relative performance has improved since the end of the period and now for […]
Upcoming Events
Videos
In The Press
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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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12 Dec 2023 1 min read
Money Makers podcast: 9 Dec 2023
In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, talks to James Carthew, director of QuotedData.
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11 Dec 2023 1 min read
Investment trust insider on activists
Investment trust insider on activists – James Carthew: Tender offer won’t get Saba off European Opps’ back Both the relative and absolute performance of European Opportunities Trust (EOT) have been poor in recent years. There are two main reasons for that – the fraud at Wirecard, which was far too large a position in Alexander […]
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09 Nov 2023 1 min read
Shareholder activism and M&A surge is a mixed blessing for investment trust sector
Valeria Martinez, Investment Week, 09 November 2023: Discounts not seen since the Global Financial Crisis are driving a fresh surge in shareholder activism and M&A across the UK investment trust space. While this is likely to help lift prices in the short-term, it could also lead to a significant shrinkage of the sector… Alternative trusts […]
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08 Nov 2023 1 min read
Saba demands European Opps double its tender offer to survive vote
Gavin Lumsden, Citywire Investment Trust Insider, 8 Nov 2023: In a move that keeps the £841m investment trust and its fund manager Alexander Darwall on the back foot ahead of the crunch poll on 15 November, Saba today issued another open letter criticising EOT’s proposal yesterday for a 25% tender offer as insufficient. Saba portfolio […]
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03 Oct 2023 1 min read
Concentrated portfolios: 11 funds and trusts favoured by the pros
by Jennifer Hill from interactive investor, 3rd October 2023: As the old adage goes, one must concentrate to build wealth and then diversify to protect wealth. However, the benefits of diversification can diminish rapidly after you reach around 30 stocks. This concept can be traced back to a paper published by Lawrence Fisher and James […]
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16 Aug 2023 1 min read
Investment trust insider on the return of arbitrageurs
Investment trust insider on the return of arbitrageurs – James Carthew: The unfit trusts at risk from an ‘arb’ attack Investment company bargains abound following the discount widening that has plagued the sector. We have seen some welcome proactive moves by boards to address the problem. What does not seem to have emerged yet is […]
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11 Oct 2022 1 min read
Bargain Hunter: 12 investment trusts near biggest discount in five years
by Kyle Caldwell, interactive investor, 11th October 2022: Investment trust discounts have widened notably since the beginning of the year, rising from 1.5% to 15.7% for the average discount, according to analyst Winterflood. The bear market that’s played out this year in response to high levels of inflation, increases in interest rates and geopolitical tensions, […]
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10 Oct 2022 1 min read
‘Buying opportunities are better than ever’ for investment trusts
Eve Maddock-Jones, Investment Week, 05 October 2022: Investment trusts have been pushed to the widest discounts in years due to the abnormally high levels of market volatility and uncertainty. This includes not only closed-ended portfolios that have been running on a discount long-term, but portfolios that have historically run on significant premiums now being reduced. […]
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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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07 Feb 2021 1 min read
Investment trust insider on European Opportunities
Investment trust insider on European Opportunities – James Carthew: Why I’m giving Darwall benefit of the doubt A lot has happened to European Opportunities (JEO) since I last wrote about it in October 2019. Back in 2019, I questioned the wisdom of the size of its holding in Wirecard. This was well-founded as it turned […]
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22 Oct 2019 2 min read
Investment trust insider on European trusts
Investment trust insider on European trusts – James Carthew: where I should have put my Darwall dough The board of Jupiter European Opportunities (JEO) has agreed terms with Devon Equity Management, the new management company established by Alexander Darwall. It will move across from Jupiter to Devon on 15 November. Jupiter is entitled to fees […]
