Business update 31 March 2024

Results

Quest for Growth closed the first three months of its financial year with a net loss of € 1.4 million. The return on equity was -0.97%. Quest for Growth’s shares saw their share price fall by 9.2% over the first three months of the year, to a closing price of € 4.54 on 28 March 2024. The discount of the share price in relation to the net asset value rose to 39.0% at the end of the quarter, compared to 33.4% at the end of 2023.

Market Environment

The European stock market index STOXX Europe 600 Net Return rose by nearly 8% during the first three months of 2024. The STOXX Europe Small 200 Net Return rose by slightly more than 4% over the same period. European stock markets thus continued on last year's momentum. The underlying drivers and trends also remained more or less the same. From a thematic perspective, the breakthrough regarding AI continues to support stock prices.

Stocks with higher market capitalisation continue to outperform smaller listed companies. Since mid-2021, the difference has been very significant: over a period of eighteen months, the STOXX Europe Small 200 Net Return index fell by approximately 7%, while the broad European market rose by approximately 20%!