View more on these topics

F&C European Assets Trust falls 10% in total returns

Interim figures from the F&C European Assets Trust show a 10.1 per cent fall in total returns performance in Sterling terms for the six months to 30 June 2008.

European Assets Trust is a London Stock Exchange listed investment trust managed by Crispin Longden from F&C Asset Management.

However, the trust, which targets Continental European small and mid cap companies, out performed during the first half of 2008 as the HSBC Smaller Europe Index, which excludes UK declined 11.9 per cent in Sterling total return terms over the same period.

Two dividends of 0.21p (€0.27) per share each were paid in January and May 2008 with a further dividend due in August 2008.

Commenting on the figures Longden says: “The result would have been considerably poorer had it not been for a rally in April and May, triggered by the dramatic rescue of the US investment bank, Bear Stearns which kindled hopes that the worst of the credit crisis might be past.

“The Company’s current portfolio of stocks in aggregate is trading on a ratio of less than one times, that is the price earnings ratio is less than the rate of long-term average earnings growth. A PEG ratio of less than one can serve as a useful indicator that a given stock or portfolio is cheap and holds out the prospect of share price appreciation despite the unremitting gloomy equity market sentiment.”

Recommended

Thames River seeking UK opportunity

Thames River investment director Michael Warren says the firm may look beyond the UK equity income sector as part of its planned move into the mainstream market.

Document replaces menu and IDD

The FSA will introduce a single services and costs disclosure document to replace the menu and initial disclosure document from August. It stresses the documents are only guidance and advisers can use the old documents until August 2009.

A striking problem

Soaring public sector pension costs will eventually stretch political consensus to breaking point says Stewart Ritchie

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com