Henderson Far East Income


Market Cap£442m

Last Close 290.5p

HFEL aims to provide shareholders with a growing total annual dividend per share and capital appreciation, from a diversified portfolio of investments in the Asia-Pacific region. It has stock market listings in London and New Zealand.

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Investment summary

Henderson Far East Income (HFEL) is differentiated from its Asian income peers by its high dividend yield (c 8% versus a peer average of c 4%), fully covered by income in each of the last 10 years except FY21 (99% covered). During the COVID-19 period, HFEL’s capital performance has come under pressure as investors have eschewed the sort of cash-generative companies with high or growing dividends favoured by manager Mike Kerley, preferring the allure of companies promising future growth. However, HFEL’s own shareholders remain keen on its consistent income generation, keeping it trading close to par or at a small premium to NAV with more than 8.3m new shares issued in the past 12 months.

Content on Henderson Far East Income
Henderson Far East Income – Compelling income and recovery potential
Investment companies | research Review | 17 December 2021
Henderson Far East Income Limited – Consistently high and growing income
Investment companies | research Review | 23 July 2021
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Share price graph
Price performance
Actual (3.5) (1.9) (9.0)
Relative* 0.1 0.8 (10.8)
52-week high/low 329.0p/274.5p
*% relative to local index
Key management
Mike Kerley Fund manager

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