Henderson Opportunities Trust - Feeling HOT HOT HOT?
Henderson Opportunities Trust (HOT) has performed particularly strongly over the past 12 months, leading to signs of a reappraisal among investors with the trust’s persistent double-digit discount to NAV narrowing almost to par. Managers James Henderson and Laura Foll have made the best of HOT’s flexible all-cap structure, reaping the benefits of strong performance from early-stage hydrogen plays in 2020 and rotating towards more cyclical names late in the year as the market focus switched to value. The managers see the trust as a ‘good mixer’, with its large exposure to small-cap and particularly AIM stocks meaning it offers significant differentiation both from its peers and the managers’ other portfolios. While focused on capital growth, HOT also offers a 1.9% dividend yield and has a 10-year record of dividend growth (supported by reserves in FY20).Henderson Opportunities Trust is an investment trust company. Co. invests in a portfolio of 70 to 100 investments on an unconstrained basis across the whole range of market capitalisation. Co. has appointed Henderson Investment Funds Limited to act as its Alternative Investment Fund Manager.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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