Last checked at 3 Aug 2023 12:49
London, UK, 3 August 2023
Edison issues update on BlackRock Greater Europe Investment Trust (BRGE)
BlackRock Greater Europe Investment Trust (BRGE) is managed by Stefan Gries, who seeks to invest in the best wealth-creating businesses on a minimum three- to five-year view. The process has proved successful as the trust's NAV has outperformed the Europe ex-UK market over the last one, three, five and 10 years. BRGE is one of seven funds in the AIC Europe sector, and its NAV total returns rank first over the last one, five and 10 years. It has also generated very acceptable double-digit absolute total returns over the last decade: NAV and share price are both +10.9% pa.
Gries employs a genuine long-term approach, behaving like an investor in businesses rather than a trader in shares, and is not influenced by the sector or geographic weightings of the reference index. The manager has four primary investment criteria when assessing a company as a potential addition to the fund: a quality management team with a clearly defined strategy and a strong track record of value creation; a high and predictable return on capital and strong free cash flow conversion; options to deploy cash in areas of high and sustainable returns; and a unique aspect, such as a product, brand or contract structure, which protects a business from future competition.
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