Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBlackRock Greater Europe Investment Trust Regulatory News (BRGE)

Share Price Information for BlackRock Greater Europe Investment Trust (BRGE)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 638.00
Bid: 638.00
Ask: 639.00
Change: -2.00 (-0.31%)
Spread: 1.00 (0.157%)
Open: 647.00
High: 647.00
Low: 637.00
Prev. Close: 640.00
BRGE Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Portfolio Update

20 Jun 2017 12:10

BlackRock Greater Europe Investment Trust Plc - Portfolio Update

BlackRock Greater Europe Investment Trust Plc - Portfolio Update

PR Newswire

London, June 19

BLACKROCK GREATER EUROPE INVESTMENT TRUST plc (LEI - 5493003R8FJ6I76ZUW55)All information is at 31 May 2017 and unaudited.Performance at month end with net income reinvested 

One MonthThree MonthsOne YearThree YearsLaunch (20 Sep 04)
Net asset value (undiluted)4.5%10.4%27.9%37.4%318.3%
Net asset value* (diluted)4.5%10.4%27.9%38.1%318.7%
Share price7.2%13.7%33.0%37.2%311.2%
FTSE World Europe ex UK5.5%11.4%35.7%36.9%235.5%

* Diluted for treasury shares and subscription shares.Sources: BlackRock and Datastream 

At month end

Net asset value (capital only):327.57p
Net asset value (including income):329.99p
Net asset value (capital only)1:327.57p
Net asset value (including income)1:329.99p
Share price:321.75p
Discount to NAV (including income):2.5%
Discount to NAV (including income)1:2.5%
Net gearing:1.6%
Net yield2:1.6%
Total assets (including income):£318.4m
Ordinary shares in issue3:95,295,953
Ongoing charges4:1.07%

1 Diluted for treasury shares.2 Based on a final dividend of 3.65p per share for the year ended 31 August 2016 and an interim dividend of 1.75p per share declared on 26 April 2017.3 Excluding 15,032,985 shares held in treasury.4 Calculated as a percentage of average net assets and using expenses, excluding interest costs, after relief for taxation, for the year ended 31 August 2016.

Sector AnalysisTotal Assets (%)  Country AnalysisTotal Assets (%) 
Industrials24.3 France17.4 
Financials17.1 Netherlands16.8 
Consumer Services13.2 Germany11.7 
Consumer Goods11.7 Denmark11.4 
Health Care10.9 Switzerland9.8 
Technology8.6 Russia5.3 
Basic Materials6.9 Sweden5.2 
Oil & Gas3.6 Finland4.5 
Telecommunications2.7 Ireland4.3 
Energy1.4 Spain3.2 
Net current liabilities(0.4)Belgium2.9 
-----Luxembourg2.0 
100.0Poland2.0 
====Ukraine1.7 
Turkey1.6 
Italy0.6 
Net current liabilities(0.4)
----- 
100.0 
===== 

Ten Largest Equity Investments
CompanyCountry% of Total Assets
RELXNetherlands3.5
BayerGermany3.4
InditexSpain3.2
Compagnie Financière RichemontSwitzerland3.0
VinciFrance3.0
Lonza GroupSwitzerland2.9
AholdNetherlands2.9
ASMLNetherlands2.8
DSVDenmark2.8
KPNNetherlands2.7
Commenting on the markets, Vincent Devlin, representing the Investment Manager noted: During the month, the Company’s NAV rose by 4.5% and the share price increased by 7.2%. For reference, the FTSE World Europe ex UK Index was up 5.5% during the period. The European ex UK market rallied in May backed by improving earnings momentum in the region. Macro data, including the Purchasing Manager’s Index and consumer confidence, remains positive with the April PMI print recording a 6-year high. Sentiment also improved for the region as France headed to the polls for the second round of the French presidential election, with Independent, and market friendly, candidate Emmanuel Macron comfortably beating far right rival Marine Le Pen. The European Central Bank left all policy unchanged over the month with Draghi reiterating that “extraordinary” measures were still needed to stablise inflation, even as economic growth continues to gather pace. Both core and headline inflation have fallen in recent prints. The Company underperformed the reference index over the month. The index was primarily led higher by large-cap stocks and particularly those which are more defensive in nature. In this regard, one of the largest detractors to relative returns was not owning large benchmark constituent Nestlé. Given the outperformance of defensive stocks, the lower weighting towards utilities detracted from performance. The higher weighting held in the industrials sector also detracted. However, positively, the lower allocation to financials aided relative returns as the sector, and in particular banks, fell back over the month. Stock selection in the technology sector proved the most challenging over the month with positions in ASML and Hexagon detracting. The former pulled back after a period of strong performance given investor concerns around inventory build. The largest detractor to performance came from a holding in Russian energy supplier Gazprom. The company’s stock, along with much of the rest of the energy and commodities space, was weak as OPEC decided to maintain production cuts at the same level, rather than furthering them as many market participants had hoped. A number of positions within industrials, including Wartsila and CRH, also detracted following a period of exceptionally strong performance. A holding in shale exposed Tenaris also proved negative for performance as commodity prices weakened over the period. Strong performance came from a holding in hearing aid manufacturer GN Store Nord. The company delivered strong revenue growth for the first quarter of 15%, driven by success in their 5th generation audio link product which is significantly differentiated from competitors. A holding in KPN also contributed positively to returns, rallying after a period of weak performance. The company announced a share buy-back which was taken positively by the market. A greater potential for consolidation in the Netherlands mobile market is also supportive for the share price. Outlook A combination of fading political risk and a turn in earnings has helped sentiment. We saw investors starting to come back to the asset class, in particular, post the French elections. The synchronised global expansion is helpful for Europe, as evidenced by the strong first-quarter reporting season, which has been the best in several years. The pick-up in sales growth has led to a clear recovery in profits. We have seen improvement in employment and the credit backdrop is supportive, with lending conditions remaining favourable. In terms of valuation, European equities are not expensive relative to other regions, in particular against the US, while still offering attractive yields versus bonds. Europe’s domestic recovery is progressing positively, the political landscape is more optimistic, aided by the new French president Emmanuel Macron who appears to be getting support to implement a much needed reform agenda. Overall, the asset class remains under-owned and Europe continues to surprise on the upside. 20 June 2017 ENDS Latest information is available by typing www.brgeplc.co.uk on the internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV terminal). Neither the contents of the Manager’s website nor the contents of any website accessible from hyperlinks on the Manager’s website (or any other website) is incorporated into, or forms part of, this announcement.
Date   Source Headline
28th Mar 20245:37 pmPRNTransaction in Own Shares
28th Mar 202411:41 amPRNNet Asset Value(s)
28th Mar 20247:00 amPRNTotal Voting Rights
27th Mar 20245:46 pmPRNTransaction in Own Shares
27th Mar 202412:07 pmPRNNet Asset Value(s)
27th Mar 20247:00 amPRNTotal Voting Rights
26th Mar 20245:21 pmPRNTransaction in Own Shares
26th Mar 202411:58 amPRNNet Asset Value(s)
26th Mar 20247:00 amPRNTotal Voting Rights
25th Mar 20245:29 pmPRNTransaction in Own Shares
25th Mar 202412:07 pmPRNNet Asset Value(s)
25th Mar 20247:00 amPRNTotal Voting Rights
22nd Mar 20245:38 pmPRNTransaction in Own Shares
22nd Mar 202412:01 pmPRNNet Asset Value(s)
22nd Mar 20247:00 amPRNTotal Voting Rights
21st Mar 20245:31 pmPRNTransaction in Own Shares
21st Mar 20241:42 pmPRNTender Offer
21st Mar 202412:13 pmPRNNet Asset Value(s)
21st Mar 20247:00 amPRNTotal Voting Rights
20th Mar 20245:37 pmPRNTransaction in Own Shares
20th Mar 202411:58 amPRNNet Asset Value(s)
20th Mar 20247:00 amPRNTotal Voting Rights
19th Mar 20245:19 pmPRNTransaction in Own Shares
19th Mar 202411:44 amPRNNet Asset Value(s)
19th Mar 202411:30 amPRNPortfolio Update
19th Mar 20247:00 amPRNTotal Voting Rights
18th Mar 20246:11 pmPRNTransaction in Own Shares
18th Mar 202412:08 pmPRNNet Asset Value(s)
18th Mar 20247:00 amPRNTotal Voting Rights
15th Mar 20246:15 pmPRNTransaction in Own Shares
15th Mar 202412:02 pmPRNNet Asset Value(s)
15th Mar 20247:00 amPRNTotal Voting Rights
14th Mar 20245:26 pmPRNTransaction in Own Shares
14th Mar 202412:15 pmPRNNet Asset Value(s)
14th Mar 20247:00 amPRNTotal Voting Rights
13th Mar 20246:16 pmPRNTransaction in Own Shares
13th Mar 202411:55 amPRNNet Asset Value(s)
12th Mar 20245:40 pmPRNTransaction in Own Shares
12th Mar 202411:40 amPRNNet Asset Value(s)
11th Mar 202412:27 pmPRNNet Asset Value(s)
11th Mar 20247:00 amPRNTotal Voting Rights
8th Mar 202412:59 pmPRNNet Asset Value(s)
7th Mar 20246:52 pmPRNTransaction in Own Shares
7th Mar 202412:20 pmPRNNet Asset Value(s)
6th Mar 202412:20 pmPRNNet Asset Value(s)
5th Mar 202412:02 pmPRNNet Asset Value(s)
4th Mar 202411:39 amPRNNet Asset Value(s)
4th Mar 20247:00 amPRNTotal Voting Rights
1st Mar 202411:50 amPRNNet Asset Value(s)
1st Mar 20247:00 amPRNTotal Voting Rights

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.