Review: Proposed rollover with choice of strategies
On 1 February 2016 the directors of Henderson Global Trust (HGL) announced that they had agreed in principle to combine the trust with stablemate Henderson International Income Trust (HINT), with an option for shareholders in HGL to roll their investment over into the Henderson-managed Bankers Investment Trust (BNKR) if they wished to continue to follow a global growth strategy. HGL had a market capitalisation of £138.9m at 23 March and had traded at an average discount of c 10% over one, three and five years in spite of an active share buyback programme. HINT has traded at an average premium of 1.1% since launch in 2011, and it was felt that combining to create a bigger trust under the HINT strategy would be in the interests of current and future shareholders. In this note we explain the rollover options for HGL investors and outline the timescale for action.
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