# Montanaro European Smaller Companies Trust PLC (MTE)

**Source:** https://fundology.uk/fund/mte · ISIN GB00BM8H3X05 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 01/10/2026, MTE (Montanaro European Smaller Companies Trust PLC, ISIN GB00BM8H3X05) closed at £1.74 on the London Stock Exchange. Over the five years to 01/10/2026 its price changed by −11.5% (income paid out is not included), or −30.0% after UK CPIH inflation.

## Summary

Montanaro European Smaller Companies Trust PLC is an investment trust. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.

Latest close: **£1.74** (01/10/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | MTE |
| ISIN | GB00BM8H3X05 |
| Category | Investment trusts |
| Type | Investment trust |
| Domicile | United Kingdom |

## Past returns (periods to 01/10/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after ONS CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +1.76% | -1.01% | price only |
| 3 years | +47.91% | +34.30% | price only |
| 5 years | -11.48% | -30.00% | price only |

Returns: Fundology, from recorded daily closes. Inflation: ONS CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Montanaro European Smaller Companies Trust PLC in pounds (price only, income paid out not included): 2022 −38.4%, 2023 +0.5%, 2024 +3.3%, 2025 +17.1%; 2026 to 01/10/2026 +5.5%. Returns of Montanaro European Smaller Companies Trust PLC in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +4.2%; to 30/09/2025: +15.8%; to 30/09/2024: +21.9%; to 30/09/2023: +11.2%; to 30/09/2022: −48.9%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -38.4% | -43.6% | Price |
| 2023 | +0.5% | -3.5% | Price |
| 2024 | +3.3% | -0.2% | Price |
| 2025 | +17.1% | +13.1% | Price |
| 2026 to 01/10/2026 | +5.5% | +2.5% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 19.57% | -15.95% |
| 3 years | 17.24% | -19.62% |
| 5 years | 22.99% | -52.37% |

## Largest fall

Volatility of Montanaro European Smaller Companies Trust PLC in pounds, annualised from weekly returns to 01/10/2026: 19.6% over 1 year, 17.2% over 3 years, 23.0% over 5 years. Largest fall in the price of Montanaro European Smaller Companies Trust PLC since October 2021, in pounds: −52.4% from 19/11/2021 to 30/09/2022. The lowest 12-month return of Montanaro European Smaller Companies Trust PLC in pounds (price only, income paid out not included) since January 2021 was −47.4% (12 months to 23/09/2022); the highest was +33.9% (12 months to 18/10/2024). On 01/10/2026 the price of Montanaro European Smaller Companies Trust PLC was 23.1% below its highest weekly close since October 2021 (19/11/2021), in pounds.

## Charges & eligibility

- ISA eligible: yes
- SIPP eligible: yes

## Questions people ask

**What is the ISIN of MTE?**

The ISIN of MTE is GB00BM8H3X05. An ISIN identifies one exact share class of a fund; MTE is its ticker on the London Stock Exchange.

**What were MTE’s returns in each of the last five years?**

Calendar-year returns of MTE in pounds (price only, income paid out not included): 2022 −38.4%, 2023 +0.5%, 2024 +3.3%, 2025 +17.1%; 2026 to 01/10/2026 +5.5%. Past performance is not a guide to future returns.

**How has MTE done after inflation?**

Over the five years to 01/10/2026 MTE’s price changed by −11.5% (income paid out is not included), or −30.0% after UK CPIH inflation. Past performance is not a guide to future returns.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.