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  Introduction I am pleased to report that the performance of both the Company s Growth and Income shares have improved significantly in the reporting period. The markets we invest in have had a buoyant year. The Benchmark return for both share classes (MSCI Europe ex UK Index in sterling terms) was up 33.5% the year under review and both of the Company s share classes comfortably outperformed the benchmark. Throughout the year, with the ongoing disruption caused by Covid-19, I am pleased to report that the operations and control environment of the Company continued to work well despite the unprecedented change to working practices.

United kingdomCity ofRepublic of irelandJosephine dixonTimothy lewisZenah shuhaiberStephen goldmanAlexander fitzalan howardAlexander lennardStephen russellMatt jonesStephen macklow smithMichael barakosCompany annualCrayon groupEuropean central bank