Henderson Opportunities Trust

LSE: HOT

Market Cap£86m

Last Close 1082.5p

Henderson Opportunities Trust aims to achieve capital growth in excess of the broad UK stock market from a portfolio of UK investments. Stock selection is not constrained by the benchmark and there are no limits by sector or market capitalisation; therefore, the portfolio will differ materially from the index.

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Investment summary

Equity markets have been relatively weak and volatile so far in 2022 as a result of slowing economic growth, rising interest rates, soaring inflation and the ongoing war in Ukraine. Henderson Opportunities Trust (HOT), which has a bias to midsized and smaller companies including those listed on the Alternative Investment Market (AIM), has had a tougher time of it in 2022 after a very strong 2021. The investment process is, as with all James Henderson and Laura Foll mandates, mildly contrarian, incrementally taking advantage of valuation anomalies and market volatility to build a good-quality all-cap portfolio trading on attractive valuations. Through 2022 the managers have been gradually reducing areas that have been relatively strong, such as large caps and energy in particular, to fund purchases in more cyclical parts of the market that have been subject to aggressive selling. There is no exact science to being a contrarian fund manager, but the experience of the team over many cycles can give investors confidence that the portfolio can revert to form and outperform over the medium to longer term.

Content on Henderson Opportunities Trust
Henderson Opportunities Trust – Staying the contrarian course
Investment companies | research Update | 15 September 2022
Business document report on paper and tablet with sales data and financial business growth graph on table background.
Henderson Opportunities Trust – Riding the next wave with stabilisers
Investment companies | research Review | 26 May 2022
Business document report on paper and tablet with sales data and financial business growth graph on table background.
Henderson Opportunities Trust – Buckets of opportunity drive an impressive year
Investment companies | research Review | 30 November 2021
Business document report on paper and tablet with sales data and financial business growth graph on table background.
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Sector
Investment companies
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Share price graph
Price performance
%
1m
3m
12m
Actual 6.3 (0.9) (19.7)
Relative* (0.4) (4.1) (21.9)
52-week high/low 1430.0p/962.0p
*% relative to local index
Key management
Melanie Stoner Company secretary

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