MONTANARO EO S.C.T.LS-,50

The Montanaro European Smaller Companies Trust has been managed by Montanaro Asset Management for 20 years and achieved a 10.2% annualized total NAV return over that period after fees. This performance surpassed the MSCI Europe ex-UK SmallCap Index (8.5%) and the FTSE All-Share (6.9%) with dividends reinvested. The portfolio comprises around 50 listed smaller continental European companies and follows a consistent, bottom-up investment approach focused on profitable, growing stocks and long holding periods. The trust weathered multiple economic cycles during the two decades, including the global financial crisis, the eurozone sovereign debt crisis and the Covid-19 pandemic. » Więcej na de.investing.com

The Montanaro European Smaller Companies Trust acquired 6,224,197 tendered shares under its buyback offer and transferred them into treasury. After completion, issued share capital stands at 189,427,600 ordinary shares, of which 73,496,749 are held in treasury, leaving 115,930,851 voting ordinary shares outstanding. Payments to shareholders with CREST accounts will be made by Wednesday; Cavendish Capital Markets acted as corporate broker and Montanaro Asset Management was investment manager. » Więcej na de.investing.com

Executives of the Montanaro European Smaller Companies Trust purchased a total of 310,848 ordinary shares worth £456,000, including 67,500 shares by chairman Gordon Neilly and 200,000 shares by Charles Montanaro. The trust reports that consensus forecasts for portfolio companies imply earnings growth of 26% for 2026 and 18% for 2027, and recent reported results exceeded expectations. About half of the held companies have net cash positions; the portfolio focuses on European small-caps with recurring revenues and strong balance sheets. Since Montanaro Asset Management took over management in 2006, annual NAV returns have been 10.1% versus 8.8% for the comparator index; over the last decade the return was 12.2% per year. » Więcej na de.investing.com