# European growth investment trust JEDT outperforms benchmark in October

- Link: https://www.directorstalkinterviews.com/european-growth-investment-trust-jedt-outperforms-benchmark-in-october/4121135097
- Published: 2023-12-05T07:46:05+00:00
- Author: Amilia Stone

**[JPMorgan European Discovery Trust plc](https://www.directorstalkinterviews.com/company/jpmorgan-european-discovery-trust-plc/jedt.l)**(
[LON:JEDT](https://www.directorstalkinterviews.com/company/jpmorgan-european-discovery-trust-plc/jedt.l))
has announced its October commentary.

**Monthly**

As of 2023/10/31

 * **The trust outperformed its benchmark in October.**
 * **Positive contributors to relative returns** included stock selection in industrial
   engineering and medical equipment & services.
 * **Detractors included** stock selection in automobiles & parts and construction&
   materials.
 * **At the stock level, an overweight position in Stabilus**, a German manufacturer
   of industrial gas springs, outperformed after announcing a large acquisition 
   in its industrial business.
 * **An overweight position in BPER Banca,** an Italian banking group, also outperformed
   as it continues to see strong tailwinds from increased interest rates in Europe.
 * **On the other hand, an overweight position in Electrolux Professional**, a Swedish
   manufacturer of professional laundry & cooking equipment, underperformed as its
   clients pushed out orders due to the weakening environment.
 * **An overweight position in Bravida**, a Swedish multi-technical services provider,
   also underperformed, as the slowing residential construction market is putting
   pressure on its profitability.

**Looking Ahead**

As of 2023/10/31

 * **The risks to the European economy have certainly not disappeared.** Uncertainty
   over profits, the dynamics of the post-Covid economy and the extraordinary surge
   in corporate profits are still complicated and make forecasting unusually difficult.
 * **Recent data points suggest that inflation has likely peaked** and is gradually
   falling to more manageable levels. Whilst we believe that recession risk remains,
   the depth of an economic slowdown may still be relatively shallow and short in
   duration.
 * **In the wake of last year’s broad market sell-off**, lower valuations presented
   investors with a new slate of opportunities across equities. Markets have since
   seen solid gains in 2023, but this rebound has not been evenly distributed. As
   investors assess positioning for the rest of the year and 2024, it’s important
   to assess both risks and opportunities after this year’s market rally.

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**JPMorgan European Discovery Trust plc** ([LON:JEDT](https://www.directorstalkinterviews.com/jpmorgan-european-discovery-trust-plc/jedt.l))
is an investment trust company. The Investment Trust JEDT objective is to achieve
capital growth from a portfolio of quoted smaller companies in Europe, excluding
the United Kingdom.

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