A director at Henderson High Income Trust bought 12,000 shares at 169p and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two year...
Henderson High Income (HHI) has recently announced that Henderson Diversified Income will be merged into it, subject to shareholder approval, which would add advantages of scale to HHI in the coming months. HHI’s manager David Smith believes that for the new HHI shareholders the timing of this merger may be fortuitous, as he feels that a number of key risks facing the UK equity market are reducing: it is likely to avoid a material recession, inflationary pressures have diminished, and political ...
Henderson High Income (HHI) has recently announced that Henderson Diversified Income will be merged into it, subject to shareholder approval, which will add advantages of scale to HHI in the coming months. For the new HHI shareholders, the timing of this merger may be fortuitous, as HHI’s manager David Smith believes that a number of key risks facing the UK equity market are reducing: it is likely to avoid a material recession, inflationary pressures have diminished, and political risk should fa...
Henderson Diversified Income (HDIV) has agreed heads of terms for a combination with Henderson High Income (HHI). As part of the deal, shareholders in HDIV will have the option to take cash for all or part of their holding if they choose. In July 2023, HDIV’s chairman noted (see our news story here) that the trust had shrunk through share buybacks, and that this was inflating its average running costs and affecting liquidity. More importantly, he also made some observations about the fund’s inv...
Thanks to its combination of both high-yielding stocks and debt, Henderson High Income (HHI) gives its manager, David Smith, more capacity to adapt to the higher inflationary environment that has dictated the fortunes of the UK stock market. David believes that despite the recent macroeconomic uncertainty, the current market outlook could be supportive for HHI’s value-biased portfolio. Historical data appears to suggest that a combination of high inflation and a resilient UK economy may be a boo...
Thanks to its combination of both high-yielding stocks and debt, Henderson High Income (HHI) gives its manager, David Smith, the toolkit he needs to navigate the higher inflationary environment that has dictated the fortunes of the UK stock market. David believes that despite the recent macroeconomic uncertainty, the current market outlook could be supportive for HHI’s value-biased portfolio. History suggests that the combination of high inflation and a resilient UK economy may be a boon for the...
Whilst 2022 has been a harrowing year for many trusts, Henderson High Income Trust (HHI) has generated a positive 12-month NAV return and still offers an attractive yield, one of the highest amongst its peers. Manager David Smith remains quietly confident about the medium-term prospects for the UK, believing that the country will experience a mild recession, and has begun to rotate HHI’s portfolio into cyclical companies, where valuations are particularly attractive. While David is underweight t...
Whilst 2022 has been a harrowing year for many trusts, Henderson High Income Trust (HHI) has generated a positive 12-month NAV return and still offers a yield that ranks as one of the highest amongst its peers. Manager David Smith remains quietly confident about the medium-term prospects for the UK, believing that the country will experience a mild recession, and has begun to rotate HHI’s portfolio into cyclical companies, where valuations are particularly attractive. While David is underweight ...
Inflation has now persisted beyond most people's 2021 expectations for a “short term blip” following the COVID crisis, and investors are increasingly under pressure to generate positive real returns in the first highly inflationary (i.e., >5%) environment since 1991. We expect a degree of asset price volatility to continue across all asset classes for quite some time. In this note we look at the factors behind the current inflationary environment, evaluate which ones are likely to persist and ...
Henderson High Income (HHI) has enjoyed something of a UK revival for a year now, boosted by the pandemic recovery and a game of catchup among dividend-paying companies, which manager David Smith says still have further to go. Concerns around inflation, and now the Russo-Ukrainian conflict, linger – but the trust’s focus on high quality companies and its ability to invest across both equities and bonds means that it has more scope to prepare for any uncertainty on the horizon. Following the liqu...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Henderson High Income’s (HHI‘s) dividend income proved relatively resilient in the face of COVID-19. It will likely dip into its revenue reserves to maintain its dividend this year and perhaps next, but having avoided the worst of the crisis, HHI manager David Smith sees little danger of these being exhausted.
Henderson High Income’s (HHI‘s) dividend income proved relatively resilient in the face of the COVID-19 pandemic. Because of the widespread dividend cuts that afflicted the UK market, HHI will likely dip into its revenue reserves to maintain its dividend this year and perhaps next. However, having avoided the worst of the crisis, HHI manager David Smith sees little danger of these being exhausted.
Recent market falls have left Henderson High Income Trust (HHI) trading on a 7.3% yield. This is a significant premium to the yield on the UK market, which has been hit by a swathe of dividend cuts. The board are well aware of the reliance that many investors have on the income paid by the trust. Fortunately, HHI’s sources of revenue are diversified (as we explain on page 4) and it had revenue reserves of 8.3p at the beginning of the year. Given this, the board felt confident enough to announce ...
Recent market falls have left Henderson High Income Trust (HHI) trading on a 7.3% dividend yield. This is a significant premium to the yield on the UK market, which has been hit by a swathe of dividend cuts. The board are well aware of the reliance that many investors have on the income paid by the trust. Fortunately, HHI’s sources of revenue are diversified and it had revenue reserves of 8.3p per share at the beginning of the year. Given this, the board felt confident enough to announce their i...
Henderson High Income Trust (HHI) launched in November 1989, with an objective of generating a high income from a portfolio consisting primarily of UK equities complemented by a modest weighting in fixed interest investments to enhance income. Investors might have been forgiven for thinking that the second half of the objective, “maintaining the prospect of capital growth”, might fall by the wayside. However, by making imaginative use of the flexibility afforded by its investment trust structure...
Henderson High Income Trust (HHI) launched in November 1989, with an objective of generating a high income from a portfolio consisting primarily of UK equities complemented by a modest weighting in fixed interest investments that have been used to enhance income.Investors might have been forgiven for thinking that the second half of HHI’s objective, “maintaining the prospect of capital growth”, might fall by the wayside. However, by making imaginative use of the flexibility afforded by its inves...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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