London, UK, 8 April 2022
Edison issues update on BlackRock Greater Europe Investment Trust (BRGE)
BlackRock Greater Europe Investment Trust (BRGE) has two co-managers: Stefan Gries, since June 2017, covering developed European markets, and Sam Vecht, since the fund's launch in September 2004, covering emerging European markets. The stock market rotation from growth to value stocks and the war in Ukraine have caused a setback for the trust in recent months. Nevertheless, BRGE remains considerably ahead of its benchmark over the last three, five and 10 years in both NAV and share price terms and it remains top of the AIC Europe sector peer group over these periods.
Despite a step-back in relative performance and having had a modest exposure to Russian securities, BRGE regularly trades at a premium. The current 0.5% share price discount to cum-income NAV compares with a range of a 4.1% premium to a 3.7% discount over the last 12 months (average 1.6% premium). Over the last three, five and 10 years, the trust has traded at average discounts of 1.6%, 2.8% and 3.4% respectively.
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