Henderson International Income Trust

LN: HINT

£292m market cap

162p 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) invests in companies outside the UK, in order to provide a source of income diversification for investors who may already have sufficient exposure to the domestic market. It is the only fund in the AIC Global Equity Income sector with a specifically ex-UK remit. Relative performance has dipped recently, largely as a result of HINT’s structural underweight to the US, which dominates the MSCI World ex-UK index. However, manager Ben Lofthouse is finding attractive opportunities in less favoured markets such as those in Europe, which could benefit from the asymmetry between their attractive fundamentals and poor investor perceptions. The portfolio is broadly diversified by geography and sector, with a mix of high-yielding stocks and those with superior dividend growth potential. HINT currently yields c 3%.

Share price graph
Price performance
%
1m
3m
12m
Actual 3.0 6.0 3.5
Relative* (0.9) (2.8) 3.3
52-week high/low 170.0p/150.0p
*% relative to local index

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