Last checked at 
LONDON (Alliance News) - European Assets Trust NV Wednesday said it had outperformed its benchmark in the quarter to end-September in both euro and sterling terms, despite a "difficult" third quarter for European equities.
The trust posted a negative total return on net asset value per share of 2.2% in sterling terms, and a positive return of 0.4% in euro terms for the quarter.
This compared to a negative total return of 7.5% in sterling terms for the Euromoney European Smaller Companies (ex UK) Index, and a negative total return of 4.9% in euro terms.
The company said that the currency movements show the contrasting development of Europe and the UK. "While the Bank of England signalled a move towards monetary tightening on the back of strong economic performance in the UK, the European Central Bank announced further and more specific monetary support in response to weaker data," the company said in a statement.
Whilst this led to the weakening of the Euro, these measures should help encourage exports and increase bank lending, particularly to smaller companies, European Assets Trust said.
It said that it is confident its strategy will deliver a good long-term performance for its shareholders, and its portfolio businesses should trade "relatively well through market turmoil".
Shares in European Assets Trust are trading up 1.1% at 847.03 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
