AAA-rated David Walton tells Citywire that European companies continue to trade well

Citywire AAA-rated David Walton, Manager of Marlborough European Special Situations, has been featured on Citywire saying many companies are continuing to trade well despite the challenging economic backdrop.

David says he has not seen a widespread weakening in trading performance, despite uncertainty about energy prices and inflation rates, together with forecasts of a slowdown in economic growth in Europe.

He says that softer trading is concentrated in sectors most exposed to the squeeze on consumer incomes and the majority of industrial companies are continuing to trade well.

David also notes that occasional bids are still being made to take smaller companies private, demonstrating that private equity houses continue to see value.

Italian jewellery maker Fope, French plumbing parts supplier Thermador and German semiconductor producer Elmos were among the fund’s strongest performers in October.

The Citywire article highlighted the 48.9% return achieved by Marlborough European Special Situations over three years, compared with the 12.7% average performance of funds in the Investment Association’s Europe ex-UK sector*.

28/11/22

Read the article here 

*Morningstar data to 01/11/22

For professional use only.

Capital is at risk. The value and income from investments can go down as well as up and are not guaranteed. An investor may get back significantly less than they invest. Past performance is not a reliable indicator of current or future performance and should not be the sole factor considered when selecting funds.