Edison Investment Research Limited / GB00BP6QR382
13.12.2023 - 09:57:59Edison issues update on Henderson EuroTrust (HNE): Good stock selection outweighing headwinds
| Edison Investment Research Limited 13-Dec-2023 / 08:57 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 13 December 2023 Henderson EuroTrust’s (HNE’s) manager, Jamie Ross, is heartened by the trust’s outperformance in FY23 despite investors favouring lower-quality value stocks. This result was achieved through successful stock selection. The manager employs a long-term view, seeking high-quality companies with high or improving returns. He also has a mid- and long-term record of NAV outperformance versus the Europe ex-UK market, although the trust encountered a protracted period of style headwinds between Q121 and Q222. In absolute terms, over the last decade, HNE’s NAV total return of 9.4% per year is comfortably ahead of the market’s 8.0% annual total return. European stocks are trading at a meaningful discount to global peers and with the trust continuing to be valued at a double-digit discount, now could be an opportune time to consider a portfolio of high-quality companies where the manager has a proven strategy of successful fundamental stock selection. With its focus on generating a superior total return, alongside seeking capital growth, HNE also offers a dividend yield, which ranks highly versus most of its peers in the AIC Europe sector. In FY21, the board announced a change in the company’s dividend policy, whereby distributions would be broadly based on the level of income received. At the time, the trust had significant revenue reserves, which were paid out in FY21 and FY23. The board has recently announced that due to the pattern of income receipts, there will now be a single annual dividend payment rather than a modest interim and a larger final dividend. Click here to view the full report. All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Mel Jenner +44 (0)20 3077 5700 investmenttrusts@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
