European Assets Share Discussion Threads

[nerja] 26/7/2024 16:36

I have but can’t say it’s with any real conviction

[brwo349] 26/7/2024 15:34

There cant be many equity trusts down year to date but this is one.
It is down 3.5%. Glancing at the chart the NAV is actually up about 6% it's just the share price has not followed. I've been topping up here today,

[essentialinvestor] 15/7/2024 09:40

12% discount to NAV is towards the top of the usual range, it got to 13-14% at one point, from memory.

[rcturner2] 15/7/2024 08:13

I am back in today for a reasonable sum. Decent risk/reward at this price.

[brwo349] 03/7/2024 11:53

EAT going ex dividend 1.475p tomorrow

[brwo349] 19/6/2024 14:42

I bought this morning for the income at under 88p.

I also purchased CHIB which is a UK income trust on a double digit discount with a yield of 6.25%.

[aleman] 19/6/2024 14:06

The discount is getting high again by historic standards, at over 13%.

[investingdad] 04/6/2024 09:38

The likelihood that interest rates will settle at a higher level than the past decade will help European stocks to outperform their global peers, according to Citi strategistsLet's hope so!

[aleman] 23/5/2024 10:23

Some economists are now saying an ECB rate cut is coming in June on the back of weak inflationary pressure seen in the latest EU Flash PMI narrative. European shares seem to have turned up since the PMI was published.

[marktime1231] 22/5/2024 17:45

New board member Kate of the Cornish Bowdens buying in, helping the cause.

[makinbuks] 21/5/2024 08:57

Yes, I imagine there are quite a lot of sellers ignoring the NAV and just grateful for the recent recovery, that volume will eventually clear

[essentialinvestor] 20/5/2024 13:34

90 pence proving resistance, however
If NAV keeps rising then not for long.

[marktime1231] 20/5/2024 12:41

And a new Chairman I think.

So long as NAV keeps improving the discount is less of a worry, an opportunity in fact if the new guys are minded to close the gap with a bit of portfolio pruning and ...

[makinbuks] 20/5/2024 10:26

From Citywire

"European Assets (EAT) leaps into second place in our ‘cheap’ list with shares in the poorly performing smaller companies trust falling to a 13% discount after the replacement of fund manager Sam Cosh this month, just behind UK small-cap IPU in the top spot on a wider 16% discount."

[kohsamui] 19/5/2024 15:26

I just looked up the performance record of the new head investment manager- I don’t understand why he is being given mandate as it’s shockingly poor…1 star rated.
I was thinking about taking advantage of widest discount in a while, but now I see why !

[marktime1231] 17/5/2024 17:15

Yes NAV still on the front foot, approaching 104p. I added this week when the yield hit 6.7% and on the prospect of further strong progress. The window to buy in the 80s must be closing. It will be interesting to learn which direction the new manager is going to take us, a portfolio refresh to weed out strugglers and perhaps more active management of the discount.

[aleman] 17/5/2024 14:52

Share price not keeping up with NAV generates a potential yield of 7.0% here atm. I think that's the first time where I've calculated it reaching that level (if current values were to hold until the next trigger date of course).

[essentialinvestor] 10/5/2024 13:44

Mark,
appreciate the reply and your view, thanks.


Good to see SKG as a top holding.

[essentialinvestor] 09/5/2024 19:20

The share price was at current levels back in early 2013.

11 years later, it's more than reasonable to question performance - I appreciate you may view it differently.

[marktime1231] 09/5/2024 18:14

No we are here for income not growth, EAT is for long term investors not blokes fretting the day to day stuff. When NAV has recovered to 120p on better macro outlook and the share price catches up you won't be complaining. And if your average holding price is 80p or so because you took advantage of the dips there is not a lot to complain about now, given the direction of travel.

The only issues, which may be behind the recent change in manager and which may be connected, are that the portfolio value has not (yet) rebounded as strongly perhaps as other European small and medium cap baskets and the discount is persistent.

But on the plus side NAV has now put on something like 4-5p in a week and has only stretched the discount because we are waiting for the share price to follow suit. Think of it as a buying opportunity,

[essentialinvestor] 09/5/2024 13:10

Needs to be changed, 4%.

The current payout heavily weighing on longer term NAV progession and now the share price.

It makes the Trust less, not more attractive.

[marktime1231] 09/5/2024 12:49

No. The 6% of NAV distribution is wired in to the articles of EAT it is not at the manager's discretion.

The discount is slightly wider because NAV is moving ahead and the share price needs to catch up.

[rosburg20] 09/5/2024 11:56

Discount to Nav seems to be widening. Is a dividend cut under the new manager being priced in?