BlackRock Greater Europe Investment Trust : Half yearly financial report – 28 February 2023
Contents
BlackRock Greater Europe Investment Trust plc
Half Yearly Financial Report 28 February 2023
Contents
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Contents
Financial highlights
523.00p1
Ordinary share price
+15.9%2,3
549.50p
NAV per ordinary share
+16.6%2,3
£555.0m
Net assets
1.75p
Interim dividend
0.0%
1.3%3, 4
Yield
The above financial highlights are at 28 February 2023 and percentage comparisons are against 31 August 2022.
- Performance figures are calculated in Sterling terms with dividends reinvested. ³ Alternative Performance Measures; see Glossary on pages 32 to 35.
4 Based on dividends paid and declared for the twelve months to 28 February 2023 and share price as at 28 February 2023.
Section 1: Overview and performance 1
Contents
Why BlackRock
Greater Europe Investment Trust plc?
Investment objective
The Company’s objective is the achievement of capital growth, primarily through investment in a focused portfolio constructed from a combination of the securities of large, mid and small capitalisation European companies, together with some investment in the developing markets of Europe.
The Company has the flexibility to invest in any country included in the FTSE World Europe ex UK Index, as well as the freedom to invest in developing countries not included in the index but considered by the Manager and the Directors as part of greater Europe.
Reasons to invest
Conviction
A concentrated portfolio focusing on the best ideas existing within the European Equity Market. Not constrained by market cap, sub-sector or region, the Portfolio Manager
can invest across the breadth of the European market, comprising a portfolio of the best 30-45 investment ideas.
Long-term focus
Looking through the daily noise which impacts the market for the best long- term opportunities. We wish to be an investor in companies, not a trader of shares. We look to align ourselves with the best management teams in the region which we believe have the ability to create value for shareholders over the long term.
Risk aware
The portfolio is concentrated but highly risk aware. The Portfolio Manager aims to ensure risk and returns are diversified by end market exposures. He works closely with partners in
the BlackRock Risk and Quantitative Analysis team to ensure that portfolio risk is deliberate, diversified and scaled.
Personnel
The Company benefits from the
20-strong European Equity team within BlackRock’s Fundamental Equity division.
High quality
The Company is designed for investors looking to invest in a selection of Europe’s highest quality, fastest- growing companies, irrespective of their size and geography.
A member of the Association of Investment Companies
Further details about the Company, including the latest annual and half yearly financial reports, factsheets and stock exchange announcements, are available on the website at www.blackrock.com/uk/brge
2 BlackRock Greater Europe Investment Trust plcl Half Yearly Financial Report 28 February 2023
Contents
Contents
Section 1: Overview and performance
|
Financial highlights |
1 |
|
Why BlackRock Greater Europe Investment Trust plc? |
2 |
|
Performance record |
4 |
|
Chairman’s Statement |
5 |
|
Investment Manager’s Report |
7 |
Section 2: Portfolio
|
Ten largest investments |
10 |
|
Portfolio analysis |
12 |
|
Investments |
13 |
Section 3: Governance
|
Interim Management Report and Responsibility Statement |
15 |
Section 4: Financial statements
|
Income Statement |
16 |
|
Statement of Changes in Equity |
17 |
|
Balance Sheet |
18 |
|
Statement of Cash Flows |
19 |
|
Notes to the Financial Statements |
20 |
Section 5: Additional information
|
Management and other service providers |
27 |
|
Directors |
28 |
|
Shareholder information |
29 |
|
Glossary |
32 |
Section 1: Overview and performance 3
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Disclaimer
BlackRock Greater Europe Investment Trust plc published this content on 25 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2023 17:51:12 UTC.
