UPDATE: MTE has struggled to perform over the past five years, after interest rates rose in 2022 and investors soured on both small-caps and growth stocks. The trust gained 8% in the year to March 2022, lost 21% in 2023, gained 5% in 2024, lost 2% in 2025 and gained 2% in the year to March 2026. From April to September 2026, performance has improved and it has returned 17%, giving it a total return of -3% over the last five years versus +10% for its benchmark. Starting in October 2025, the trust is holding 5% tender offers at a 5% discount to NAV every six months, as well as continuing with it...
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