The £318m TR European Growth Trust (Treg), managed by Hendersons, has underperformed its benchmark b...
The £318m TR European Growth Trust (Treg), managed by Hendersons, has underperformed its benchmark by 18.3% for the half year to 31 December 2001. Over the six months, Treg's NAV fell 26.9%, compared with the FTSE World Europe ex-UK Index, which was down 8.6%. Gearing in the trust has now been reduced to £36.2m (12.5%), from the £137.1m (33.6%) levels at the end of June last year. John Shaw, chairman of the trust, said that, while performance has been poor, the portfolio is well placed to prosper in current market conditions.
Partner Insight: For Blackfinch, the arrival of its IHT portfolio services was a 'natural evolution' in the group's offering and points to an established track record of returning cash to investors.
Senior Managers Regime
Interest rate outlook unchaged
FCA made demands last week