Montanaro European Smaller Companies Trust marks 20 years

Montanaro European Smaller Companies Trust celebrated 20 years of management by Montanaro Asset Management, according to a recent press release. The Trust claimed a 10.2% annualized net asset value total return over the two-decade period, surpassing the 8.5% return of the MSCI Europe ex-UK SmallCap Index and the 6.9% return of the FTSE All-Share Index.

Both metrics accounted for reinvested dividends. The Trust's portfolio consists of around 50 quoted smaller companies across Continental Europe, with a bottom-up stock selection approach managed by a specialized team. Throughout these two decades, the Trust weathered significant economic challenges, including the Global Financial Crisis, the Eurozone sovereign debt crisis, and the Covid-19 pandemic.

Gordon Neilly, the Trust's Chairman, hailed the milestone, stating that the Trust delivered a 10.2% annualized NAV total return, navigating various market cycles under Montanaro Asset Management's stewardship. George Cooke, the Portfolio Manager, emphasized the Trust's focus on identifying Europe's top smaller companies before they gain widespread recognition, employing a strategy that spotlights profitable, growing businesses with robust market positions.

Montanaro Asset Management's consistent investment philosophy, which blends proprietary research, stock selection, and long-term ownership, has governed the Trust since 2006.