Henderson European Focus Trust has announced its half year results for the period ended 31 March 2014. Its net asset value total return for those six months was 16.5%, well ahead of the 8.7% return generated by the FTSE World Europe Index (in sterling). The discount narrowed over the period, moving to a premium at times, and so the share price did even better – delivering a return of 18.4%.
Henderson European Focus trust is paying an interim dividend for the first time (of 6.0p per share).
The manager highlights smart cars and pharmaceuticals as areas that the fund is invested in that did well in the period. He also mentions his move back into the banking sector in 2012.