Last checked at 17 Mar 2021 07:00
London, UK, 17 March 2021
Edison issues review on BlackRock Greater Europe Investment Trust (BRGE)
BlackRock Greater Europe Investment Trust (BRGE) has two co-managers: Stefan Gries (since June 2017, developed Europe - c 90% of the fund) and Sam Vecht (since launch in September 2004, emerging Europe - c 10% of the fund). This note focuses on a recent webinar with Gries where he discussed BRGE's investment strategy, the fund's 2020 performance and his outlook for Europe and the trust's prospects. For more information about BRGE please see our latest review, published on 19 November 2020.
· BRGE offers a diversified portfolio of high-quality European equities across both developed and emerging markets for investors wishing to gain exposure to the region.
· Investment performance has been strong. BRGE has delivered annualised NAV and share price total returns of 11.7% and 12.4% respectively over the last decade (benchmark total return of 6.9% pa). Over the 12 months to end-February 2021, the trust's NAV and share price total returns of 40.9% and 34.5% respectively were considerably ahead of the benchmark's 13.4% total return. BRGE's NAV performance ranks first versus its seven peers in the AIC Europe sector over the last three and five years.
· BRGE now regularly trades at a premium and there were no share repurchases in 2020, illustrating underlying demand for the trust.
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