The European Smaller Companies Trust PLC
TEUUF
Other OTC- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Oliver Duncan Beckett
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 201 Bishopsgate London United Kingdom EC2M 3AE
- IPO Date
- Sep 2, 1990
- Website
- henderson.com
- Similar Companies
- Business
- The European Smaller Companies Trust PLC (ESCT) is a UK-based closed-end investment trust that seeks capital growth by investing primarily in equities of smaller and medium-sized companies quoted, domiciled, listed or operating in Europe excluding the United Kingdom; the portfolio typically comprises more than 120 holdings across diverse sectors including industrials, technology, consumer services, financials, basic materials, healthcare, consumer goods, real estate and energy, with an average market capitalization around £1 billion and rarely exceeding £3 billion; up to 15% of gross assets may be allocated to other investment companies including listed investment trusts. Managed by Janus Henderson Fund Management UK Limited with lead manager Ollie Beckett since 2011, benchmarked against the MSCI Europe ex UK Small Cap Index, the trust maintains a diversified portfolio limited to no more than 7% in any single holding and benefits from the manager's regional expertise in identifying quality growth opportunities among Europe's dynamic smaller businesses. As of 31 October 2025, total assets under management stood at £878.86 million, with an ongoing charge figure of 1.08%. Founded on 10 July 1990 and headquartered at 201 Bishopsgate, London EC2M 3AE, United Kingdom, the company was originally established as TR European Growth Trust PLC under Touche Remnant management, transitioning to Henderson Group in 1992 following its acquisition, and rebranded to its current name in October 2021 to better reflect its focus. Geographically, operations center on continental Europe, targeting Western European small and mid-cap equities for long-term capital appreciation. The trust caters to institutional and retail investors seeking exposure to higher-growth potential smaller companies versus larger peers. In June 2025, the trust announced a strategic combination with European Assets Trust PLC (EAT) via a scheme of reconstruction and members' voluntary liquidation under section 110 of the Insolvency Act 1986, involving the transfer of EAT's cash and assets in exchange for new ESCT shares, expected to enlarge net assets to approximately £810-£878 million upon completion by late 2025 or early 2026, subject to shareholder approval. This follows a May 2025 tender offer where over 42% of shares were tendered, including activist investor Saba Capital's 29% stake, reshaping the shareholder base for future growth. Additionally, the trust introduced a progressive dividend policy targeting at least 5% of NAV annually paid quarterly, with a second interim dividend of 3.45 pence per share declared for the year ended 30 June 2025.