Beckett to dump mid and large caps in TR Euro Growth revamp

Henderson manager to overhaul European Growth trust upon takeover from Peak in July

Henderson’s Ollie Beckett is set to revamp the £280m TR European Growth trust, ditching its 15% in mid- and large-cap stocks when he takes over from Stephen Peak in July. Beckett said the entire portfolio will be made up of small-cap names, similar to its structure at launch 20 years ago. The manager said over the past five years a number of large caps have crept into the portfolio as the trust adopted a hard discount policy requiring it to hold more liquid names to enable share buybacks. Beckett said the trust has now implemented a soft discount policy aiming to drive down its ...