alandwd
17 Jul 2018
12% Discount 4th June Sentiment has changed a lot. It’s only down 10% from it’s all time high on NAV, but the discount is turning good. 13.8% this morning, according to Trustnet. Could be time to buy again soon, wait for 16%+
Charityman
13 Jul 2018
12% Discount 4th June The last couple of months (since I topped up, coincidentally) have been pretty disastrous for TRG, nearly 6% down. Up until then it had been performing reasonably well and is one of my long-term holdings. Holding on and hoping for a return to trend but wonder if the EU/Eurozone troubles are weighing down on the price.
TwoSporrans
06 Jun 2018
12% Discount 4th June Sold 2 of 3 'slices' held in TRG on the Feb. bounce, following the global correction; watched the remaining one shrivel somewhat since.But mostly, it's been down to a pretty drastic widening of the discount; the NAV has held its gut pretty well.Basically, from outperforming [I've been using MSCI Europe SMC as benchmark] for ages up to last November, TRG entered a bit of a malaise and underperformed ....until mid April.But .... it's actually returned to outperformance since then; i.e. the past 7 weeks appx.Take the last 3 months [to 4 June]: the sp has fallen 11%, yet the NAV has actually risen a tad [0.75%]; grabbed my attention as a bit of an anomaly.There's a new Ollie Becket Video aimed at new TRG investors on Henderson Website.Nothing hugely revealing but he did say the fund is yielding fully 2% dividend.Yet, the trust summary on the W-site indicates only a 1.1% yield.2% is just enough to assuage the pain of holding if things go moribund - for me.The MSCI Europe SMC looking resilient in the face of the current, largely politically driven pessimism:[link] I've sold the rises since the correction on much of my portfolio, hence knocking 40% in cash and heavily into dividend plays - esp. Asian and niche REITS - I'm thinking that repurchasing one of my TRG slices for short/medium term gain ain't a bad idea.Well, just 1/2 a slice.Hoping the fund NAV can at least keep to par with benchmark, put on at least a few % on the highs over remainder of 2018 and discount narrows to something more like 5% meanwhile.
megastream
29 May 2018
Re: Sharp Drop TR European Growth Trust has performed poorly over the past three months - share price down by about 10%. It looks like the NAV is less affected - but the Discount has widened substantially from the heady days of a Premium in mid summer 2017.
PIE-EATER
29 May 2018
Re: Sharp Drop Biggest faller out of my European ITs / those I watch. A bit surprised to see EAT and JEO both holding up comparatively well.
Charityman
29 May 2018
Re: Sharp Drop And there's me thinking that the EU was a bastion of stability and the Utopia heading for a thousand years of glory !! Lol
sage in the hills
29 May 2018
Re: Sharp Drop Charityman .....All Europe centred trusts are down an average of about 4 to 5 % this morning, on account of the political and financial turmoil in Italy and now Spain....EUROPE MARKETS: European Stocks Slump As Political Rumblings In Italy Rattle Nerves29/05/2018 10
1amDow Jones NewsFTSE 100 Index ChartToday : Tuesday 29 May 2018Click Here for more FTSE 100 Charts.Carla Mozee, MarketWatchPolitical uncertainty in Spain also hitting stocksEuropean stock markets swiftly ran lower Tuesday, led by a selloff in Italian equities. Investors were assessing the prospect of new elections in Italy, which could serve as a referendum on the euro.Meanwhile, political uncertainty in Spain hit Madrid-traded stocks, as Prime Minister Mariano Rajoy's struggle to stay in power raised fears of new elections.In the U.K., investors returned to the markets following Monday's bank holiday.What markets are doingItaly's FTSE MIB index tumbled 3.6% to 21,141.68. Investors also seemed to be fleeing Italian debt, and the 2-year bond yield soared by 134 percentage points to 2.03%, according to Tradeweb, as prices sank. Bond prices move in the opposite direction of yields.See:In topsy-turvy Italian markets, sovereign debt seen as riskier than corporate bonds ([link] Spain, the IBEX-35 index gave up 3% to 9,476.20 as traders fretted about the future of Rajoy's government.France's CAC 40 fell 2.1% to 5,393.40, and Germany's DAX 30 index sank 1.9% to 12,624.56. In London, the FTSE 100 moved down 1.4% to 7,623.43.Those broad losses led to a 1.7% fall in the Stoxx Europe 600 Index , to 383.25. That adds to a 0.3% decline on Monday ([link] when Italian stocks also suffered.The euro slid to $1.1538 from $1.1625 on Monday, moving below $1.16 for the first time since November.What's driving marketsWorries grew that Italy will be forced to hold a new general election. The country's president, Sergio Mattarella, on Monday blocked two antiestablishment parties from taking power ([link] by rejecting their euroskeptic candidate for economy minister. Mattarella then asked Carlo Cottarelli, a former International Monetary Fund official, to try to form a new government.The populist 5 Star Movement and League parties are now calling for new elections. The two had agreed to form a coalition government after the general election in March -- seen as the "worst-case scenario" ([link] by financial strategists.The result of any new ballot would be seen as a referendum on the feelings of Italians about the euro and membership of the European Union, some market observers said. Overall, the events in Italy are reviving worries about the stability of the eurozone.Check out:4 ways the ECB is preventing an Italian rerun of the euro crisis -- for now ([link] Spain, Rajoy will face a no-confidence vote in parliament on Friday, which could lead to the ouster of his minority center-right government and its replacement by the Socialist Party. The center-left opposition party called for the vote ([link] after a corruption case ended in convictions for senior members of Rajoy's People's Party.The prospect of a sudden and unexpected change in Spain's government caught many investors unaware on Friday, sending Spanish stocks sharply d
Charityman
29 May 2018
Sharp Drop Down 63p or 5.8% this morning at 1022/1032.Haven't checked for news yet but it seems a bit drastic !
alandwd
08 May 2018
Re: Questor buy- short term I still don't see the deal. It's a sub-10% discount so at best a hold. Meanwhile, in the same timeframe, DNDL is up 30% and it gets ignored because the media is obsessed with a negative brexit slant.
holland44
27 Apr 2018
Re: Questor buy- short term I've held TRG for 2 years and regret delaying selling up when the trust was at a premium, as past experience with small company trusts told me it rarely lasts. There's no guarantee it will return to a premium but it will hopefully continue to outperform.I'm also in JESC which also has a good track record in this sector, and III and SLPE for further private equity exposure to small European companies.
shabby 2 sox
27 Apr 2018
Re: Questor buy- short term I bought in at the end of last year and am currently 10% down so looking forward to the re bound and future growth in line with historic trend.
Charityman
27 Apr 2018
Re: Questor buy- short term Now 3.25% !!!
Charityman
27 Apr 2018
Re: Questor buy- short term I have held TRG long-term and a fortnight ago transferred by small holding into my ISA account to reduce a possible CGT liability.Since then (9/4) I am showing a further 2.5% increase so I am happy to ignore the warnings for the time being but keep under review.2.5% in a fortnight seems an decent return !!
Hydrogen Economy
27 Apr 2018
Questor buy- short term This tip was presumably supporting the 3%+ rise yesterday.[link] week we look at a 
well-managed fund whose large discount may not last.Shares in TR European Growth, which invests in smaller companies listed in continental Europe, were trading at a small premium as recently as February but are now at a discount of 9pc. The share price is also about 17pc below its recent peak.“TR European Growth has done very well – it has gained 259pc over the past five years, against 143pc for the broader market – but has come off a little recently. In our view this gives rise to a short-term trading opportunity,” said Jonathan Webster-Smith of Brooks Macdonald, the wealth manager, which recommends the fund for some of its clients’ portfolios. He said the trust had an experienced manager in Ollie Beckett of Janus Henderson. Beckett has made gains of 246pc over the past 10 years, compared with 165pc for his peer group, according to FE Trustnet, the fund analyst.“With a smaller companies fund you will always have some holdings that go wrong so the portfolio is well diversified, with almost 150 stocks,” ... they have a strong sell discipline.“They have a slight bias towards ‘value’ stocks and a cautious attitude to ‘bond proxies’.” The latter are 
low-growth stocks that produce reliable income and are seen as vulnerable when interest rates rise.Brooks Macdonald manager said he would hold it only while the economic backdrop remained supportive. “Economic activity in Europe is still generally strong,” he said. “There has been decent expansion in jobs, manufacturing and services, while fears of a severe trade war between America and China have softened.”Monetary policy is also supportive, he added. “It would be logical at this stage of the cycle to expect interest rates to rise, but we are not seeing inflation.“The European Central Bank is still very accommodative [keeping money cheap]. It is one or two years behind the US in terms of tightening monetary policy – ....we see holding TR European Growth as a trading opportunity.”.... would reconsider his holding in the trust at the first sign of weakness.... we rate the trust as a short-term buy and suggest banking profits should the discount narrow appreciably.Questor says: bu
alandwd
23 Mar 2018
Re: Price fall now 8%+ Discount to NAV As per my post on 12/09/17, this one had become way overvalued and trendy compared to it's historic discount. Definitely time to sell. Now it's back over 10%, which is fair value, although I will wait for 16%+ before I dip back in. Be interesting to see whether a move to sub-£10 a share occurs today with the overnight nikkei falls.If there is any value in the IT market today, it is with UK smaller companies, especially DNDL and HOT
