Edison issues update: Henderson Intl. Income Trust

RNS Number : 2703J

Henderson Intl. Income Trust PLC

16 December 2015

 

London, UK, 16 December 2015

Edison issues research update on Henderson International Income Trust

Henderson International Income Trust (HINT) is the only investment trust specifically targeting income by investing in companies outside the UK. Launched in 2011, it has provided year-on-year dividend growth and is also building a revenue reserve. While a structural underweight to the US and Japan (because these markets are low yielding) has dented relative performance in the period since launch, the trust has achieved its objective of providing capital and income returns at least equivalent to those available from the FTSE All Share. Manager Ben Lofthouse describes the trust as a "global best ideas" portfolio, with a flexible allocation between three main geographical areas of the Americas, Europe and Asia.

At 14 December HINT's shares traded at a 0.5% premium to cum-income net asset value. On average the trust has enjoyed a premium rating since launch, although a temporary supply glut in September 2014 caused by the final exercise of subscription shares saw it move to a discount of c 8% before settling back at around par. The board actively issues shares to manage the premium, and may also use buybacks should a persistent discount arise. 

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