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Ollie Beckett, Portfolio Manager of The European Smaller Companies Trust discusses the half-year results, including the key drivers of performance, changes made to the portfolio and investing in sustainable companies. Ollie also provides his outlook for European smaller companies.
4 Feb 2023
6 minute watch
6 minute watch
Key takeaways:
- The Company’s net asset value (NAV) total return was 9.3%, outperforming the benchmark return of 6.0%. Our exposure to more sensibly-priced growth and self-help investment cases made it more resilient than the benchmark.
- We are pleased to declare an interim dividend of 1.45p per ordinary share – a 16.0% increased on the interim dividend paid last year. We remain confident that the Company will continue to deliver progressive dividend growth as the underlying companies continue to generate healthy cash flow.
- While uncertainty remains there is room for optimism: the impact of the energy shortage hasn’t been as dramatic as feared and there are indications that inflation may be peaking. In addition, the reopening of China should also benefit consumers and boost global growth.
Related insights
4 Feb 2023
6 minute watch
6 minute watch
Key takeaways:
- The Company’s net asset value (NAV) total return was 9.3%, outperforming the benchmark return of 6.0%. Our exposure to more sensibly-priced growth and self-help investment cases made it more resilient than the benchmark.
- We are pleased to declare an interim dividend of 1.45p per ordinary share – a 16.0% increased on the interim dividend paid last year. We remain confident that the Company will continue to deliver progressive dividend growth as the underlying companies continue to generate healthy cash flow.
- While uncertainty remains there is room for optimism: the impact of the energy shortage hasn’t been as dramatic as feared and there are indications that inflation may be peaking. In addition, the reopening of China should also benefit consumers and boost global growth.