Investment Trusts

Montanaro European Smaller Companies Trust Plc

MTE:LSE

Montanaro European Smaller Companies Trust Plc

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  • Price (GBX)164.50
  • Today's Change0.00 / 0.00%
  • Shares traded290.19k
  • 1 Year change+3.13%
  • Beta1.5101
Data delayed at least 20 minutes, as of Feb 17 2026 16:35 GMT.
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About the company

Montanaro European Smaller Companies Trust plc is an investment trust. The Company’s principal activity is portfolio management. Its objective is to achieve capital growth by investing principally in Continental European quoted smaller companies. The Company invests principally in quoted smaller companies within the European Union, Norway and Switzerland (but is not restricted from investing in smaller companies quoted on other European stock exchanges). It may invest in companies listed on non-European stock exchanges that derive significant revenues or profits from Europe, European securities, such as global depositary receipts, listed on other international stock exchanges, and debt issued by European governments or denominated in European currencies. It invests in various sectors, including information technology, industrials, healthcare, financials, communication services, real estate, and materials. Its investment manager is Montanaro Asset Management Limited.

  • Revenue in GBP (TTM)32.26m
  • Net income in GBP27.90m
  • Incorporated1981
  • Employees0.00
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Profile

Management group(s)Montanaro Asset Management Limited
AIC sectorEuropean Smaller Companies
ISINGB00BM8H3X05
Launch date01 Jan 1981
Share typeOrdinary Share
StructureInvestment Trust
Base currencyGBP

Objective

To achieve capital growth by investing principally in Continental European quoted smaller companies.

Managed by

George Cooke, Stefan Fischerfeier

Management & contract fees

There is no performance fee and the basic management fee is 0.825 per cent p.a. of the amount of the Company’s market capitalisation up to GBP 500 m; 0.70 per cent p.a. of the amount of the Company’s market capitalisation between GBP 500 m and GBP 750 m and 0.65 per cent p.a. of the amount of the Company’s market capitalisation above GBP 750 m. Contract terminable on notice of 6 months.

Peer analysis

Key Information
CompanyRevenue (TTM)Net income (TTM)Market capEmployeesPrice/earnings (TTM)Price/book value (MRQ)Price/cash flow (TTM)Price/sales (TTM)EPS (excl. extraordinary items, TTM)EPS (incl. extraordinary items, TTM)Revenue per share (TTM)Book value per share (MRQ)Asset turnover (TTM)Inventory turnover (TTM)Receivables turnover (TTM)Revenues per employee (TTM)Return on avg assets (TTM)Return on avg assets (5 yr avg)Return on investment (TTM)Return on investment (5 yr avg)Gross margin (TTM)Gross margin
(5 yr avg)
Net profit margin (TTM)Net Profit margin
(5 yr avg)
Quick ratio (MRQ)Interest coverage (TTM)Total debt to capital (MRQ)Payout ratio
(5 yr avg)
Revenue
(YOY change %)
Revenue
(5 yr growth rate)
Net income
(YOY change %)
Net income
(5 yr growth rate)
Capital expenditure
(5 yr growth rate)
Dividend
(5 yr growth rate)
Gresham House Income & Growth Vct PLC9.38m3.18m194.94m0.0062.440.9209--20.770.00990.00990.0290.66780.0463--23.32--1.575.831.575.8641.1172.0633.8467.18----0.00121.85111.82-7.03218.99-22.21---18.61
Oryx International Growth Fund Ltd18.52m14.74m195.30m0.0013.250.7469--10.551.051.051.3218.680.0722--130.10--5.749.665.809.7283.4788.8079.6085.17----0.000.00-106.03---122.13------
Impax Asset Management Group Plc140.56m20.29m195.39m298.009.741.747.681.390.15790.15791.090.88170.834--4.04471,671.2012.0422.2215.8330.35----14.4424.19----0.047577.23-18.179.94-44.368.1221.456.89
City of London Investment Group PLC53.72m14.45m195.95m110.0013.361.7510.173.650.28950.28951.082.210.4125--8.49488,377.0011.0912.0211.8212.9395.5395.2526.8927.48----0.0335106.334.0811.8115.0015.646.263.71
Montanaro European Smllr Cmpns Trst PLC32.26m27.90m215.60m0.009.171.14--6.680.17940.17940.18431.440.1047--17.54--9.067.509.397.6790.5389.5286.4685.52----0.06568.33-99.70---128.96----7.21
Aberdeen Equity Income Trust PLC36.18m33.29m217.77m0.006.201.13--6.020.69140.69140.7543.780.1862--34.79--17.1410.3719.4311.9693.5690.8492.0287.54----0.108755.2861.49--74.93----2.23
Malibu Life Holdings Ltd82.89m50.92m218.89m0.007.310.8973--2.642.392.393.8919.480.2086--8,610.57--12.815.4112.885.4277.2358.5061.4352.78----0.00--273.73-3.36900.71-3.56----
Puma VCT 13 PLC-61.00k-5.01m220.70m0.00--0.9853-----0.0367-0.0367-0.00041.21-0.0004-------2.872.15-2.872.18--44.62--37.75----0.00--187.4214.91102.68-33.80----
Foresight VCT Plc10.88m5.89m221.48m0.0029.870.9237--20.370.02190.02190.03810.70910.0495--2.70--2.689.992.7210.0559.5281.9154.1779.05----0.0090.6618.6924.6322.1528.02--4.44
Baronsmead Venture Trust PLC7.67m3.22m221.86m0.00104.960.9793--28.940.00480.00480.0190.51870.0355--4.49--1.491.291.501.3051.2044.4141.9635.46----0.00556.26-56.43-4.29-75.80-11.55---10.42
JPMorgan US Smaller Co Inv Trust PLC-6.26m-10.65m222.30m0.00--0.997-----0.1866-0.1866-0.10334.21-0.0223-------3.806.19-4.126.61--87.06--82.53----0.009.4398.01-5.83139.47-7.09--4.40
Tufton Assets Ltd-23.33m-26.49m222.70m0.00--0.7948-----0.1375-0.1375-0.1171.43-0.079-------8.9711.63-8.9911.69--93.15--91.61----0.0054.81-139.46---147.46----21.59
Mid Wynd International Invest Trust PLC-17.04m-19.80m224.86m0.00--0.9593-----0.4616-0.4616-0.37487.61-0.0477-------5.544.67-5.564.76--90.48--85.11----0.0023.94-131.07---138.01----6.41
Baronsmead Second Venture Trust PLC8.32m2.57m225.16m0.00113.490.9803--27.070.00470.00470.02060.54070.0368--4.57--1.141.381.151.3939.7241.8030.8834.05----0.00564.61-55.82-8.10-80.38-19.71---9.25
Baillie Gifford UK Growth Trust PLC37.57m34.22m226.02m0.007.130.8686--6.020.27760.27760.28832.280.1234--38.22--11.253.8712.284.0192.8485.3291.1081.93----0.0050.73494.74--4,245.24----12.95
Literacy Capital PLC7.39m-1.78m237.69m0.00--0.7593--32.15-0.0304-0.03040.12275.200.0216--20.49---0.5198---0.5298--50.44---24.03----1.120.1079---92.97-20.63-108.79------
Data as of Feb 17 2026. Currency figures normalised to Montanaro European Smaller Companies Trust Plc's reporting currency: UK Pound GBX

Institutional shareholders

73.24%Per cent of shares held by top holders
HolderShares% Held
Saba Capital Management LPas of 02 Jun 202523.46m17.78%
Interactive Investor Services Ltd.as of 31 Mar 202520.44m15.49%
Montanaro Asset Management Ltd.as of 19 Jan 202613.25m10.04%
Brewin Dolphin Wealth Management Ltd.as of 31 Mar 20258.69m6.59%
Allspring Global Investments LLCas of 04 Jun 20258.21m6.23%
1607 Capital Partners LLCas of 09 Dec 20256.47m4.91%
Brewin Dolphin Ltd.as of 31 Mar 20255.65m4.28%
Hargreaves Lansdown Fund Managers Ltd.as of 01 Feb 20264.71m3.57%
Rathbones Investment Management Ltd.as of 01 Feb 20264.40m3.33%
BlackRock Investment Management (UK) Ltd.as of 01 Feb 20261.36m1.03%
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Data from 30 Sep 2025 - 02 Feb 2026Source: FactSet Research Systems Inc.
Data Provided by LSEG
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