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About the company
Montanaro European Smaller Companies Trust plc is an investment trust. The Company’s principal activity is portfolio management. Its objective is to achieve capital growth by investing principally in Continental European quoted smaller companies. The Company invests principally in quoted smaller companies within the European Union, Norway and Switzerland (but is not restricted from investing in smaller companies quoted on other European stock exchanges). It may invest in companies listed on non-European stock exchanges that derive significant revenues or profits from Europe, European securities, such as global depositary receipts, listed on other international stock exchanges, and debt issued by European governments or denominated in European currencies. It invests in various sectors, including information technology, industrials, healthcare, financials, communication services, real estate, and materials. Its investment manager is Montanaro Asset Management Limited.
- Revenue in GBP (TTM)32.26m
- Net income in GBP27.90m
- Incorporated1981
- Employees0.00
- LocationMontanaro European Smaller Companies Trust Plc28 Walker StreetEDINBURGH EH3 7HRUnited KingdomGBR
- Phone+44 20 7448 8600Fax+44 20 7448 8601
- Websitehttps://montanaro.co.uk/trust/montanaro-european-smaller-companies-trust/
Profile
| Management group(s) | Montanaro Asset Management Limited |
|---|---|
| AIC sector | European Smaller Companies |
| ISIN | GB00BM8H3X05 |
| Launch date | 01 Jan 1981 |
| Share type | Ordinary Share |
| Structure | Investment Trust |
| Base currency | GBP |
Objective
To achieve capital growth by investing principally in Continental European quoted smaller companies.
Managed by
| George Cooke, Stefan Fischerfeier |
|---|
Management & contract fees
There is no performance fee and the basic management fee is 0.825 per cent p.a. of the amount of the Company’s market capitalisation up to GBP 500 m; 0.70 per cent p.a. of the amount of the Company’s market capitalisation between GBP 500 m and GBP 750 m and 0.65 per cent p.a. of the amount of the Company’s market capitalisation above GBP 750 m. Contract terminable on notice of 6 months.
Peer analysis
| Company | Revenue (TTM) | Net income (TTM) |
|---|---|---|
| Impax Asset Management Group Plc | 140.56m | 20.29m |
| Gresham House Income & Growth Vct PLC | 9.38m | 3.18m |
| Foresight VCT Plc | 10.88m | 5.89m |
| Baronsmead Venture Trust PLC | 7.67m | 3.22m |
| Puma VCT 13 PLC | -61.00k | -5.01m |
| Baronsmead Second Venture Trust PLC | 8.32m | 2.57m |
| Aberdeen Equity Income Trust PLC | 36.18m | 33.29m |
| Montanaro European Smllr Cmpns Trst PLC | 32.26m | 27.90m |
| Malibu Life Holdings Ltd | 83.51m | 51.29m |
| Ecofin Glbl Utlits and Infrstrc Trst PLC | 39.02m | 32.92m |
| JPMorgan US Smaller Co Inv Trust PLC | -6.26m | -10.65m |
| Tufton Assets Ltd | -23.50m | -26.69m |
| Baillie Gifford UK Growth Trust PLC | 37.57m | 34.22m |
| Mid Wynd International Invest Trust PLC | -17.04m | -19.80m |
| B.P. Marsh & Partners plc | 117.54m | 104.43m |
| Jpmorgan China Growth & Income PLC | 49.53m | 46.02m |
Institutional shareholders
| Holder | Shares | % Held |
|---|---|---|
| Saba Capital Management LPas of 02 Jun 2025 | 23.46m | 17.61% |
| Interactive Investor Services Ltd.as of 31 Mar 2025 | 20.44m | 15.34% |
| Montanaro Asset Management Ltd.as of 19 Jan 2026 | 13.25m | 9.94% |
| Brewin Dolphin Wealth Management Ltd.as of 31 Mar 2025 | 8.69m | 6.53% |
| Allspring Global Investments LLCas of 04 Jun 2025 | 8.21m | 6.17% |
| 1607 Capital Partners LLCas of 09 Dec 2025 | 6.47m | 4.86% |
| Hargreaves Lansdown Fund Managers Ltd.as of 01 Nov 2025 | 5.66m | 4.25% |
| Brewin Dolphin Ltd.as of 31 Mar 2025 | 5.65m | 4.24% |
| Rathbones Investment Management Ltd.as of 01 Nov 2025 | 4.35m | 3.27% |
| BlackRock Investment Management (UK) Ltd.as of 01 Nov 2025 | 1.66m | 1.24% |
