European Opportunities (ticker: EOT) was launched in 2000 and has been managed since then by Alex Darwall, who favours a concentrated portfolio of quality/growth companies. The trust was part of the Jupiter stable until 2019, building up a phenomenal performance record with an NAV return of nearly 13% a year from its IPO to May 2019, versus 5% a year for European markets. Darwall left Jupiter in 2019 to set up his own firm called Devon Equity Management, and the trust moved its mandate over to follow him. EOT's returns since then have been less impressive and well below its benchmark, thanks t...