Three top-notch small European companies going cheap

Professional investor Francesco Conte picks three outstanding small European companies to buy now.

Each week, a professional investor tells us where he'd put his money. This week: Francesco Conte of the JP Morgan European Smaller Companies Trust tips his favourites.

The small-cap team at JP Morgan Asset Management employs a disciplined approach based on the notion that attractively valued, high-quality companies with positive momentum outperform the market. We begin by screening the market for value (is the stock cheap?), quality (is the company self-financing?), and momentum (is the company's strategy succeeding?). We combine this data with fundamental analysis to select an overall portfolio of our best ideas typically 50 to 70 investments, depending on the economic cycle.

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