European investment trust JEDT: 19% share price growth to quarter end Jan 2024

JPMorgan European Discovery Trust plc (LON:JEDT) has announced its January commentary.

JEDT’s share price and NAV rose 19.03% and 15.05% respectively on a cumulative basis to 31 January 2024

Month in review – As of 31/01/2024

  • The trust outperformed its benchmark over January.
  • Positive contributors to relative returns included stock selection in industrial engineering and stock selection and an overweight position in industrial support services.
  • Detractors included stock selection and an underweight position in industrial transportation and stock selection in technology hardware and equipment.
  • At the stock level, an overweight position in Kindred, a Swedish gambling company, outperformed after receiving a takeover offer from Francaise des Jeux.
  • An overweight position in SPIE, a French multi-technical services company, outperformed as the company continued to benefit from strong investments into electrification & energy efficiency.
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