money-2724241

Henderson International Income Trust

LN: HINT

£317m market cap

169p last close

Henderson International Income Trust’s investment objective is to provide a high and rising level of dividends as well as capital appreciation over the long term from a focused and internationally diversified portfolio of securities outside the UK. Performance is measured against the MSCI World Ex-UK Index (sterling adjusted). HINT does not invest in issuers whose securities, at the time of investment, are only traded in the UK.

Investment summary

Henderson International Income Trust (HINT) has been proposed as the default rollover vehicle in the forthcoming planned liquidation of the Establishment Investment Trust, further cementing its position as a trust with a commitment to achieving the benefits of scale (its assets have grown sevenfold since launch in 2011). It has also recently locked in €30m of long-term borrowing with a low interest rate of 2.43%, which may allow the manager, Ben Lofthouse, to be more adventurous with gearing in his search for income and growth from sustainably financed non-UK companies trading at unwarranted discounts. HINT’s NAV has recovered well from the Q418 market sell-off, and the shares currently yield 3.4%.

Share price graph
Price performance
%
1m
3m
12m
Actual 4.3 7.3 6.6
Relative* 3.0 2.9 2.0
52-week high/low 171.0p/152.0p
*% relative to local index
Key management
Wendy King Chairman
Ben Lofthouse Fund manager
Mike Wilson Head of Investment Trust Sales

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