share prices

Henderson Far East Income

LN: HFEL

£475.8m market cap

329.5p last close

Henderson Far East Income aims to provide investors with a high level of dividends and capital appreciation over the long term, from a diversified portfolio of investments traded on the Pacific, Australasian, Japanese and Indian stock markets (Asia Pacific region). The fund is classified by the AIC in the Asia Pacific ex-Japan category and, while it does not have a benchmark, sees the FTSE All-World Asia Pacific ex-Japan index as providing the most appropriate comparator. While the fund does hold Japanese investments, they are not expected to be a substantial part of total assets.

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 (8.0) (4.2) (0.9)
Relative* (5.8) (6.8) (6.3)
52-week high/low 387.0p/339.0p
*% relative to local index
Key management
Mike Kerley Fund manager

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