share prices

Henderson Far East Income

LN: HFEL

£447.1m market cap

316p last close

Henderson Far East Income aims to provide shareholders with a growing total annual dividend per share, as well as capital appreciation, from a diversified portfolio of investments in the Asia-Pacific region. The fund is classified by the AIC in the Asia Pacific – Income sector and, while it does not have a benchmark, sees the Asia Pacific ex-Japan index and the MSCI Asia Pacific ex-Japan High Dividend Yield index as appropriate performance comparators.

Investment summary

Henderson Far East Income (HFEL) performed strongly in 2019, unusually outperforming a rising market while continuing to achieve a well-covered dividend and a yield in excess of 6%. The trust, managed by Mike Kerley and Sat Duhra at Janus Henderson Investors, has a relatively concentrated (c 50 stock) portfolio that is split roughly equally between high-yielding stocks and those offering superior dividend growth prospects. Drivers of positive performance during the year included stocks from both sides of the portfolio, with limited impact from the US-China trade dispute given HFEL’s focus on domestic rather than export stocks. The managers are optimistic for a recovery in earnings and continued growth of dividends in the Asia Pacific region during 2020.

Share price graph
Price performance
%
1m
3m
12m
Actual (3.4) 2.1 (13.4)
Relative* (6.5) (3.7) (2.2)
52-week high/low 376.0p/244.0p
*% relative to local index
Key management
Mike Kerley Fund manager

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