RCS - BlackRock Throg Tst - Flash note from QuotedData

Blackrock Throgmorton TrustAnnouncement

21/03/2024 09:45

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RNS Number : 7889H  BlackRock Throgmorton Trust PLC  21 March 2024

 

BlackRock Throgmorton - Flash note from QuotedData

21(st) March 2024

Throgmorton's fuse is lit

In yesterday's BlackRock Throgmorton (THRG) annual general meeting, manager
Dan Whitestone outlined the significant potential for a surge in UK equities,
with small and mid-caps outperforming large caps by a sizeable margin, as the
macroeconomic outlook in the UK improves.

Dan highlighted that UK companies' share prices have become increasingly
detached from their earnings potential. A combination of political uncertainty
thanks to the forthcoming elections, sticky interest rates, strength in
overseas stock markets (in particular in a handful of big AI-related US tech
names), and consistent outflows of investments in UK-focused funds has weighed
on valuations.

Dan believes that the UK small and mid-cap sector is at one of its most
attractive entry points in recent memory, based on current share prices. We
observe that Dan is not alone in this view, with the UK market being subject
to elevated levels of takeover activity.

Despite this backdrop, Dan has still been able to demonstrate the merits of
good stock picking, having generated strong long-term out outperformance
versus his peers and benchmark.

THRG's board has substantially increased its share buyback activity.
Nonetheless, THRG's discount remains at a historically wide level and may
offer investors an attractive way to capitalise on a possible near-term bounce
in UK companies.

Full Research:

https://quoteddata.com/research/blackrock-throgmorton-agm-update-qd/
(https://quoteddata.com/research/blackrock-throgmorton-agm-update-qd/)

This research is also available free on our website www.quoteddata.com
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NB: Marten & Co was paid to produce this note on BlackRock Throgmorton
Trust Plc, and it is for information purposes only. It is not intended to
encourage the reader to deal in the security or securities mentioned in this
report. Please read the important information at the back of this note.
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