Hydrogen Economy
23 Mar 2018
Price fall now 8%+ Discount to NAV TRG price has dropped by 16% from the peak but NAV down 7%. Price looks down more than JESC and other Eur SC ITs. It is unclear if the slide is over yet but I am looking to add assets in Europe especially small/mid caps ex UK. On long term performance, fees and now on discount to NAV, TRG looks like pick of the bunch at the moment. Anyone know why TRG price has been hit more than peers and any views on whether is becoming a good buy-in point?H2
marktime1231
19 Jan 2018
TRG vs JESC stock race After studying trusts for European (smaller co) growth fro a while I have not been able to decide between TRG and JESC, shading out JEO on sudden premium grounds.So this morning I took an equal position in both TRG and JESC and they can race each other to the top, pretty sure both will do well in 2018.
II Editor
11 Dec 2017
NEW ARTICLE: Europe: A sweet spot for investors " European equities have lagged UK and US counterparts significantly since the financial crisis, but have started to catch up this past year. Over the last 12 months, MSCI Europe index returned 23.4% in sterling terms, nearly double the returns ..."[link]
The Dutchman
14 Sep 2017
Re: Time to seek better value? Damn..... rather than writing that it was time to seek better value, I should actually have got on and sold some of my holding --- they've been going down ever since and now they have another 1million shares to offload on the market. !
Ronald Rose
14 Sep 2017
Re: Can someone explain in words of one ... Thank you, I asked my Financial Advisor and he said that this wasa good sign as all the spare shares had been sold and they needed to add more shares to the pot, in the short term it would dilute the shares value but in the long term it woudl add strength to the trust itself, So as my original question was into my grandchildrens ISA then i will stick with it.
alandwd
14 Sep 2017
Re: Can someone explain in words of one syla... They probably have it written in the articles of the company that they can issue more shares if the trust trades at a premium for a certain period, which this one is.To me, the bigger a trust gets the harder it is to outperform any indexes.It also means if you were about to sell, you could now have an extra 1,000,000 shares being dripped onto the market competing with you.It's a great trust but I'm out. I'll be back if and when sentiment returns to more negative.
sage in the hills
14 Sep 2017
Re: Can someone explain in words of one syla... ....hi Ronnie .....I think it might mean ....a) It is a mechanism to try and reduce the premium slightly to make buying more attractive to purchasersb) It is a slight dilution of value to existing holders ? BUTc) The managers will have approx £12,000,000 more to invest in fresh new better value holdings.....i think ......SAGE
Ronald Rose
13 Sep 2017
Can someone explain in words of one sylable Can someone explain in words of one sylable what the latest news item means please. And is it good or bad for the long term investor ie kids ISA
The Dutchman
12 Sep 2017
Re: Time to seek better value? Thanks for the insight into your portfolio, some of them are held by me too. Just a word on European Assets; it "only" yields 6-7% because the board policy is to pay 6 or is it 5% of NAV at a certain date as "income" over the following year. Of course this means some of it is paid out of capital. I don't mind this, but investors need to understand that a) the Policy could change and b) you could achieve the same result yourself by simply selling shares in other IT's so as to achieve an overall "income" of 5%.
alandwd
12 Sep 2017
Re: Time to seek better value? Based on my comment the other week, I've exited all but my original stake. I think there's no value in the mainstream Euro trusts now and this one is now at a slight premium. One exception is JP Morgan Euro smaller on a 12% discount, but that's too narrow for me.UK smaller is where the current value is.
sage in the hills
12 Sep 2017
Re: Time to seek better value? Hi Dutchman,Have been a long term holder, and have done well here too....but i continue to hold.I also hold :-Henderson EurotrustJupuiter European OpportunitiesHenderson European FocusEuropean Assets (yield 6 to 7 % )SAGE
The Dutchman
11 Sep 2017
Time to seek better value? I have done terrifically well with this IT, first buying at about £1.50 many many years ago, but steadily buying over the last 18 months up until a few weeks ago. It is now my third biggest IT holding. My records show that it has gained 70% since last August. At one time it was on a significant discount, much larger than it's peers, but it's now at a slight premium.Surely there must be better value out there amongst European IT's or even - god forbid - in funds which of course trade at NAV. I will research and start selling - cant sell all at once though.
alandwd
09 Jul 2017
Activity Nice to see some activity on this board again and I am definitely a long term holder on this one, but the reason I returned to here is to see if sentiment is changing and it is. These have had a massive run of superb performance and the discount has narrowed from 20% to 7%. To me, it's time to hold and see what happens next. If I see a sub-5% discount, I'm a seller. I see no long term reason why the EU deserves this positive rating and believe things could easily become really cheap again in the near future.
The Dutchman
29 Jun 2017
Re: New purchase I first bought these more than 10 years ago - lost track of precisely when - but what I haven't lost track of is the 615% profit on my purchase - yes I really did buy at £1.51.I re-visited in the run up to Brexit and have been adding steadily over the last 15 months, and will continue to do so whilst the discount exceeds 5%.
holland44
28 Jun 2017
Re: New purchase Of course: nothing lasts indefinitely. "Banking profits", however, depends on your investment timeframe, how confident you are in your ability to time when to buy in and when to sell up, and whether you have a better place to invest the gains. If taking profits just means taking cash and sitting on it, what's the point? You'll then just be holding dead money on deposit, and potentially losing out by being absent from the market. Holding onto a successful investment doesn't necessarily need to be viewed as "greedy"; it's also called running your winners and sticking with a long-term successful team and strategy. I generally prefer to allocate my investments and then hold for the long-term, unless something pretty major happens to the European economies or to the TRG investment team that requires a rethink and some trades to refresh my portfolio.
