JPMorgan European Discovery Trust plc
JESCF
Other OTC- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Francesco Conte
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 60 Victoria Embankment London United Kingdom EC4Y 0JP
- IPO Date
- Apr 18, 1990
- Website
- am.jpmorgan.co.uk
- Similar Companies
- Business
- JPMorgan European Discovery Trust plc is a United Kingdom-based closed-end investment trust that invests in a diversified portfolio of smaller companies quoted on European stock markets, excluding the United Kingdom, to achieve capital growth. The trust targets small-cap equities across multiple sectors including industrials, information technology, communication services, utilities, financials, energy, consumer staples, healthcare, real estate, and materials; its portfolio emphasizes growth and value stocks with holdings such as Storebrand ASA, Bawag Group AG, and Lottomatica Group SpA, alongside liquidity investments like JPM EUR Liquidity LVNAV X (dist.). Geographically, it operates across continental Europe, with investments in countries including France, Italy, Switzerland, Sweden, Netherlands, Belgium, Germany, Denmark, Finland, Spain, Norway, and Austria; the trust targets institutional and retail investors seeking exposure to European smaller companies via markets with Delivery Versus Payment (DVP) settlement. Founded in 1989 and headquartered at 60 Victoria Embankment, London, EC4Y 0JP, the company is managed by JPMorgan Funds Limited, with portfolio managers Jonathan Ingram, Jack Featherby, and Jules Bloch. In recent periods, the trust has actively adjusted its portfolio, including adding to its position in Tecnicas Reunidas SA (Energy sector) by 2.0%, initiating new buys in Vienna Insurance Group AG (Financials, 1.7%) due to attractive valuations and robust growth, and CIE Automotive SA (Consumer Discretionary, 1.4%) for its diversification in auto parts serving Europe, North America, Brazil, and India with share buybacks and acquisition potential; it also sold out of positions like CTS Eventim AG & Co., AAK AB, and Freenet AG. The company commenced an equity buyback plan for up to 15,893,238 ordinary shares, representing 15.48% of issued share capital, and has executed multiple repurchases into treasury, such as 20,222 shares at 565.885 pence in November 2025 and 25,000 shares at 579.832 pence in December 2025, with total treasury shares reaching 42,593,742 while committing to re-issue only at a premium to net asset value. Previously known as JPMorgan European Smaller Companies Trust plc until June 2021, the trust maintains an unlimited life, semi-annual dividend policy (latest interim 3.00p payable February 2025), and reports total assets of approximately £653 million with 10% gross gearing as of late 2025.