Ireland-based Origin Enterprises (LSE:OGN, Financial) was the largest individual detractor for the quarter. The company’s trading update was downbeat. Wet weather in the UK reduced crop planting activity during the quarter, while dry conditions in Brazil delayed the start of soya planting. Uncertainty about how Brexit will affect farm economics in the UK also held back the stock. We believe the weather-related issues will eventually normalize.
From Invesco European Growth Fund (Trades, Portfolio)'s fourth-quarter 2019 commentary.
