Alliance Trust snaps up 'compelling' European equities

Alliance Trust snapped up a £35m stake in European equities at the end of September to take advantage of ‘compelling valuations' across the continent.

Other prominent investors including Jupiter's John Chatfeild-Roberts and Henderson's Bill McQuaker have also been adding to European equities in recent months, believing European valuations are too cheap to ignore. "We allocated £35m to Europe in late September as we believe that the valuations for many companies are now looking increasingly compelling," Alliance Trust said in a statement this morning. In a quarterly update to the market, the £2.5bn trust, headed up by the group's chief executive Katherine Garrett-Cox, reported a total shareholder return of 5.7% to 30 September. ...