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  • FIRST POST
    • Sue58
    • By Sue58 5th Jul 18, 3:21 PM
    • 146Posts
    • 41Thanks
    Sue58
    TRG - T R European Growth IT
    • #1
    • 5th Jul 18, 3:21 PM
    TRG - T R European Growth IT 5th Jul 18 at 3:21 PM
    I bought TRG some time ago and it has made a profit even with the recent big downturn. I am thinking of buying some more because it is currently at a fairly low price and at a good discount? Anybody else hold TRG and if so, any thoughts?
Page 1
    • Prism
    • By Prism 5th Jul 18, 4:28 PM
    • 535 Posts
    • 442 Thanks
    Prism
    • #2
    • 5th Jul 18, 4:28 PM
    • #2
    • 5th Jul 18, 4:28 PM
    I don't particularly find it that attractive. Seems middle of the road in performance (slightly better over 5 years but worse over 10). Certainly taken a bit of a hit recently with a good discount but I prefer other funds to be honest.
    • LHW99
    • By LHW99 5th Jul 18, 4:39 PM
    • 1,526 Posts
    • 1,412 Thanks
    LHW99
    • #3
    • 5th Jul 18, 4:39 PM
    • #3
    • 5th Jul 18, 4:39 PM
    We (me / OH) have around 2% of our portfolio with this, held for around 10 years. Not unhappy with it, but not planning to increase the amount held at present.
    • Morphoton
    • By Morphoton 5th Jul 18, 5:11 PM
    • 88 Posts
    • 75 Thanks
    Morphoton
    • #4
    • 5th Jul 18, 5:11 PM
    • #4
    • 5th Jul 18, 5:11 PM
    I have held TRG for around 20 years now and it has performed very well for me. It was hit hard during the tech crash at the turn of the century and went below 100p in 2002 but since then has returned more than 10-fold.
    TRG is my main exposure to Europe, the only other exposure I have is through TRY (TR Property).
    No plans to change from TRG apart from doing formal rebalancing when my thresholds are reached.
    • ColdIron
    • By ColdIron 5th Jul 18, 6:08 PM
    • 4,812 Posts
    • 6,328 Thanks
    ColdIron
    • #5
    • 5th Jul 18, 6:08 PM
    • #5
    • 5th Jul 18, 6:08 PM
    I've never bought this trust but a couple of observations. Although it is currently trading at a discount, apart from a brief period at the end of last year, it always has done for the last 10 years. The current discount is not high historically and wouldn't be compelling enough for me right now on that basis alone. It has a performance fee so the current OCF of 1.55% is high, you may feel the performance is high enough to overcome this. If you look at the AIC it has the highest charges for a European trust over 5 years but also the highest total return over the same period
    • Sue58
    • By Sue58 14th Jul 18, 10:30 PM
    • 146 Posts
    • 41 Thanks
    Sue58
    • #6
    • 14th Jul 18, 10:30 PM
    • #6
    • 14th Jul 18, 10:30 PM
    I've never bought this trust but a couple of observations. Although it is currently trading at a discount, apart from a brief period at the end of last year, it always has done for the last 10 years. The current discount is not high historically and wouldn't be compelling enough for me right now on that basis alone. It has a performance fee so the current OCF of 1.55% is high, you may feel the performance is high enough to overcome this. If you look at the AIC it has the highest charges for a European trust over 5 years but also the highest total return over the same period
    Originally posted by ColdIron
    Looking at this again, it is currently trading at a discount of 12.3% and it is at least 20% off its highest share price. I know a lot of people are selling TRG but surely this is a good time to top up this holding?
    • ColdIron
    • By ColdIron 15th Jul 18, 10:16 AM
    • 4,812 Posts
    • 6,328 Thanks
    ColdIron
    • #7
    • 15th Jul 18, 10:16 AM
    • #7
    • 15th Jul 18, 10:16 AM
    Are you working to a fixed percentage allocation and just topping up to restore it? Most of the reduction in share price is down to the widening discount (closer to its historic levels) rather than a reduction of NAV, which has more or less stood up since recent highs so I suppose the thing to do is understand the reason behind that and determine if it could widen further
    • aroominyork
    • By aroominyork 15th Jul 18, 1:00 PM
    • 693 Posts
    • 236 Thanks
    aroominyork
    • #8
    • 15th Jul 18, 1:00 PM
    • #8
    • 15th Jul 18, 1:00 PM
    Looking at this again, it is currently trading at a discount of 12.3% and it is at least 20% off its highest share price. I know a lot of people are selling TRG but surely this is a good time to top up this holding?
    Originally posted by Sue58
    TRG massively outperformanced its sector from the beginning of 2017 and for most of the year. It would have been a more interesting post in the last quarter of 2017 asking if you should take profits. It has now given up most of those gains (hence its FE volatility of 161) and, as Coldiron says, it seems to be back to its long term discount, so it doesn't seem to be either an especially good or bad time to top up.
    • ArchBair
    • By ArchBair 18th Jul 18, 11:35 AM
    • 111 Posts
    • 43 Thanks
    ArchBair
    • #9
    • 18th Jul 18, 11:35 AM
    • #9
    • 18th Jul 18, 11:35 AM
    Most of the reduction in share price is down to the widening discount (closer to its historic levels) rather than a reduction of NAV, which has more or less stood up since recent highs so I suppose the thing to do is understand the reason behind that and determine if it could widen further
    Originally posted by ColdIron
    Traders are more interested in the share price top buy or sell, however as you said in this case TRG's NAV has stood up well so for long term investors this is a bonus in their current share price decline.
    • ArchBair
    • By ArchBair 2nd Aug 18, 4:10 PM
    • 111 Posts
    • 43 Thanks
    ArchBair
    TRG share price is now trading at 1000p a full 279p off its year high and at a discount of 12.82% so not a bad time to invest?
    • IanManc
    • By IanManc 2nd Aug 18, 5:07 PM
    • 721 Posts
    • 1,307 Thanks
    IanManc
    TRG share price is now trading at 1000p a full 279p off its year high and at a discount of 12.82% so not a bad time to invest?
    Originally posted by ArchBair
    I suppose it depends on whether you think the market has got the price wrong.

    Do you know something that everyone else doesn't?

    Worth thinking about
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