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Henderson Diversified wants to be able to gear up to 40%

Henderson Diversified Income results covering the year ended 31 October 2015 have been published. The net asset value per ordinary share decreased slightly from 88.82p to 88.36p over the year as did the share price from 91.25p to 90.50p.  The aggregated revenue return was 5.16p per ordinary share and dividends were maintained with a total for the year of 5.10p per ordinary share. The net asset value total return was 5.0%.

The Board is asking shareholders for the flexibility to increase total permitted gearing above the current limit of 30% of net assets to a new limit of 40% of net assets. This is because thee Board and Henderson believe that the end of the bear market may well provide a compelling opportunity to lock in attractive income streams from high quality companies.

The manager says key to the Company’s performance was the avoidance of any of the number of negative corporate surprises that characterised the year. Many of these originated from the commodities sector (which the Fund Managers maintain no exposure to) but also genuine surprises such as the VW emissions scandal. The secured loan portfolio did not report any defaults over the year.

HDIV : Henderson Diversified wants to be able to gear up to 40%

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