JEO.L Share Price (JEO)

It would appear that he was up with the lark to offload Grenke ahead of the pack .. or so it would appear ..shifting over 5% of the trust to escape with little or no damage to the NAV. A feat worthy of song and a barrel of the best blood wine.
There appears to be scant information about how or why he ditched Grenke, other than two pieces of evidence:
1. an RNS telling us that all of Grenke had been sold by end of 15 Sept
2. personal share purchases by the manager bringing his personal stake in JEO to 3.4%
The Grenke story will probably develop in whispered confidences shared as copious amounts of blood wine are consumed over the next decade. A very? few people made oodles of money from a short position opened long long ago. I listen quietly in the corner of the pub to hear why a decision was taken to spring the story on that particular day in that particular way, and by whom. The euro fund universe is a small place. The managers could all dance on Quark's bar, and probably do. Half of them praying Live Long & Prosper whilst the other half close their eyes and pray Today is a Good Day to Die.

Has Alex D lost his touch since going to Devon Equity Management ?
Obviously others think so as the discount has widened to more than 10% despite a recent share buyback.
There was plenty of warning about Wirecard but he still missed it.

Outlook In recent months, as first Ireland, then Portugal and Greece, have been bailed out by their European partners - and others - rather than be allowed to default (with potentially damaging consequences for the euro and the Eurozone), many column inches have been devoted to whether or not the European Community and its currency will survive, and if so, in what form. History tells us that currency unions have been tried before. In Europe we had the Snake, the European Monetary System (EMS), and the Exchange Rate Mechanism (ERM) - where are they now? By contrast Bismarck founded the Reichsbank in 1875 to provide a common currency across all the German states, and his creation survived hyperinflation and two world wars and became the stolid and trustworthy Bundesbank - but thereafter Germany adopted the euro. The CFA franc zone, which includes the former French colonies of West and Central Africa, started life in 1945 and still exists. By contrast the Latin Monetary Union (LMU), another French initiative covering France, Belgium, Italy, Greece and Bulgaria, lasted for much of the nineteenth century but failed when some members, notably the Papal State, began to debase their currency. Your Company has in general eschewed investment in the weakest of the European periphery members, and will continue to invest in outstanding companies with worldwide franchises and first-class managements, as it has done successfully hitherto.

http://www.investegate.co.uk/Article.aspx?id=20110818161800H9434

Jupiter European Opportunities Trust's net asset value per share rose by 36.3% in the year to the end of May. This compares with a 24.2% rise in its benchmark, the FTSE World Europe ex UK Index. At 4:30pm: (LON:JEO) Jupiter European Opportunities Trust share price was -8.5p at 232.75p