Williams expects more M&A in Europe

Baring Europe Select Trust manager Williams foresees increased interest in low-valued European companies

Baring Europe Select Trust manager Nick Williams believes investors can benefit from low valuations of quality brands ahead of renewed M&A activity. Williams says highly-regarded names in the media, IT, consumer discretionary and staple sectors are trading on much lower multiples than three years ago and stand a good chance of being taken over by competitors. As a result he has recently added media and advertising stocks to the £387.8m fund, which is ranked first in the IMA European Smaller Companies sector over three and five years to 15 March. He has also added French online fina...