Last checked at 7 Nov 2019 11:01
London, UK, 7 November 2019
Edison issues review on BlackRock Greater Europe Investment Trust (BRGE)
BlackRock Greater Europe Investment Trust (BRGE) is co-managed by Stefan Gries (since June 2017) and Sam Vecht (since launch in 2004). Gries believes that investors do not have to be positive on the prospects for Europe to consider this trust, as it seeks to invest in companies with potential to create shareholder wealth over the medium to long term. He says that investor sentiment towards the region is very negative, which may provide an incremental opportunity when opinions change. Gries remains optimistic about the prospects for BRGE's portfolio of high-quality companies, based on his assessment that there will be no major economic slowdown or recession in the coming year.
BRGE's board actively manages the discount via periodic repurchases and discretionary semi-annual tender offers. Its current 4.0% share price discount to cum-income NAV is narrower than the 4.1% to 4.5% range of average discounts over the last one, three, five and 10 years. BRGE has a progressive dividend policy, growing the annual distribution every year since the trust was launched in 2004. It currently offers a 1.5% dividend yield.
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