Henderson European Focus Trust has published accounts for the year ended 30 September 2015 that show it outperforming its benchmark. The net asset value total return for the year was 5.3% compared to a total return from the FTSE World Europe ex UK Index of -1.2%. The ordinary share price total return was 5.2%. They also announced an increased annual dividend totalling 24.65p, up from 23.45p.
The Board is seeking authority to make an amendment to the Company’s investment policy. The investment guidelines within which Henderson operates give authority to the Fund Manager to invest up to 5% of total assets in companies which are not listed in Continental Europe. The Board believes that it would be beneficial to shareholders to allow up to 10% of total assets to be invested in such companies in order to provide a wider investment universe, similar to that of some of the Company’s peers, in order to allow the Fund Manager greater flexibility when considering investment opportunities.
Oddly, there is no manager’s report in the announcement so we can’t give you any information about the drivers of performance. we guess this will be included in the annual report which will be available under the documents tab on the Henderson European Focus page of our website once it is published.
HEFT : Henderson European Focus outperforms