Overview
HDIV aims to provide its shareholders with a high level of income and preservation of capital, through the economic cycle.
It invests in a diversified portfolio of global fixed income and floating rate asset classes. The company may use gearing to enhance returns. Dividends, which make up the bulk of returns for investors, are paid quarterly
We have written notes that explain how the fund works:
- “Merger terms agreed“, published on 4 October 2023, looks at the proposed combination of Henderson High Income with Henderson Diversified Income
- “Ahead of the curve“, published in March 2022, looked at the prospects for interest rate rises
- “Sticking to its guns“, published in August 2021, discussed the managers’ conviction on the direction of inflation
- “Grounds for optimism“, published in January 2021, explains why the trust’s relative performance might be set to improve
- “Favourable style and structure“, published in July 2020, highlighted the reasons for the trust’s strong relative performance
- “Soft landing likely….“, published in November 2019, discussed the risk of a global recession
- Death rattle for bull market“, published in April 2019, states that the managers at HDIV believe the serious wobble in the last couple months of 2018 are a warning sign that the bull market is heading for a turn
- “Winter is coming“, published in October 2018, the stance of HDIV’s portfolio is reflective of the the economic cycle that they believe is nearing its peak
- “Dear Prudence“, published in November 2017, looks at HDIV’s decision to cut its dividend instead of chase after higher yielding yet riskier opportunities
- “Shift to onshore“, published in May 2017, new to the UK domicile management looks to produce attractive yields while protecting investors’ capital
You can access the manager’s website here
You can view our interviews with the company’s Fund Managers below:
10th December 2021: Nicholas Ware – Weekly Show
Research History
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04 Oct 2023 6 min read
Henderson High Income / Henderson Diversified Income – Merger terms agreed
Henderson High Income / Henderson Diversified Income Investment companies | Flash note | 4 October 2023 Merger terms agreed 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 […]
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6 min read
Henderson High Income / Henderson Diversified Income – Merger terms agreed
Henderson High Income / Henderson Diversified Income Investment companies | Flash note | 4 October 2023 Merger terms agreed 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 […]
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09 Feb 2023 40 min read
QuotedData’s Economic and Political Monthly Roundup February 2023
Economic and Political Monthly Roundup Investment companies | Monthly | February 2023 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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06 Jan 2023 1 min read
QuotedData’s Investment Trust Weekly News Roundup Show – Review of 2022
In this week’s show, James Carthew spoke to Andrew McHattie from Investment Trust Newsletter. If there is a guest speaker you’d particularly like to hear from, please email us on [email protected]. Additionally, if you would prefer to watch and ask questions live, please join us every Friday at 11am.
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13 Oct 2022 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2022
Third quarter of 2022 Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Piling on the misery In the face of rising inflation, exacerbated by the war in Ukraine, central bankers have condemned for their relative inaction. However, in the third quarter of 2022, they stepped up a gear. Last month’s economic and political roundup […]
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17 Mar 2022 18 min read
Henderson Diversified Income Trust – Ahead of the curve
Ahead of the curve Henderson Diversified Income (HDIV) is managed with a focus on good quality issuers operating in growing industries. Sustainability is an important factor in any assessment of quality. On 25 February 2022, shareholders overwhelmingly approved a new investment objective and policy that seeks to better define and highlight the trust’s approach to […]
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18 min read
Henderson Diversified Income Trust – Ahead of the curve
Ahead of the curve Henderson Diversified Income (HDIV) is managed with a focus on good quality issuers of debt securities operating in growing industries. Sustainability is an important factor in any assessment of quality. On 25 February 2022, shareholders overwhelmingly approved a new investment objective and policy that seeks to better define and highlight the […]
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17 min read
Henderson Diversified Income Trust – Ahead of the curve
Ahead of the curve Henderson Diversified Income (HDIV) is managed with a focus on good quality issuers operating in growing industries. Sustainability is an important factor in any assessment of quality. On 25 February 2022, shareholders overwhelmingly approved a new investment objective and policy that seeks to better define and highlight the trust’s approach to […]
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10 Dec 2021 1 min read
Interview with Nicholas Ware of Henderson Diversified Income
In this week’s show, James Carthew talked to Nicholas Ware of Henderson Diversified Income If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us. Additionally, if you would prefer […]
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16 Aug 2021 12 min read
Henderson Diversified Income Trust – Sticking to its guns
Sticking to its guns Henderson Diversified Income Trust (HDIV) focuses on high-quality companies with sustainable business models. It was resilient in the face of COVID-19-related market falls, but, unlike some of its peers, has not benefitted from the bounce in the prices of debt issued by low-quality borrowers and those whose business models are sensitive […]
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11 min read
Henderson Diversified Income Trust – Sticking to its guns
Sticking to its guns Henderson Diversified Income Trust (HDIV) focuses on high-quality companies with sustainable business models. It was resilient in the face of COVID-19-related market falls, but has not benefitted from the bounce in debt issued by cyclical and low-quality borrowers that has occurred since last November’s vaccine news. Nevertheless, its three-year figures are […]
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11 min read
Henderson Diversified Income Trust – Sticking to its guns
Sticking to its guns Henderson Diversified Income Trust (HDIV) focuses on high-quality companies with sustainable business models. It was resilient in the face of COVID-19-related market falls, but has not benefitted from the bounce in debt issued by cyclical and low-quality borrowers that has occurred since last November’s vaccine news. Nevertheless, its three-year figures are […]
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06 Jan 2021 16 min read
Henderson Diversified Income Trust – Grounds for optimism?
Grounds for optimism? Last year, as COVID-19-related panic took hold of markets, Henderson Diversified Income’s (HDIV’s) managers geared up to pick up some bargains and lock in an attractive revenue stream. The discovery of a number of vaccines for COVID-19 has since injected hope into markets and triggered a sharp recovery in stock and bond […]
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16 min read
Henderson Diversified Income Trust – Grounds for optimism
Grounds for optimism Last year, as COVID-19-related panic took hold of markets, Henderson Diversified Income’s (HDIV’s) managers increased HDIV’s exposure to the market by borrowing money to invest and increasing the trust’s holdings of credit derivatives (see page 8 for an explanation). This enabled the trust to pick up some bargains and lock in an […]
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16 min read
Henderson Diversified Income Trust – Grounds for optimism
Grounds for optimism Last year, as COVID-19-related panic took hold of markets, Henderson Diversified Income’s (HDIV’s) managers geared up to pick up some bargains and lock in an attractive revenue stream. The discovery of a number of vaccines for COVID-19 has since injected hope into markets and triggered a sharp recovery in stock and bond […]
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13 Nov 2020 1 min read
Interview with Roger Clarke of IPSX Group
In this week’s show, Richard Williams talked to Roger Clarke of IPSX Group Watch it again here If you were looking for QuotedData’s roundup of the week’s news, this is now in the news section – just click here If there is a guest speaker you’d particularly like to hear from, please email us – [email protected]. The […]
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21 Jul 2020 13 min read
Henderson Diversified Income Trust – Favourable style and structure
Favourable style and structure Henderson Diversified Income (HDIV) is managed with a distinct investment style which favours businesses with sustainable cash flows. Some of the sectors that have been worst affected by the COVID-19 pandemic, such as airlines and energy, were therefore absent from the portfolio. The managers took advantage of HDIV’s closed-end structure to […]
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12 min read
Henderson Diversified Income Trust – Favourable style and structure
Favourable style and structure Henderson Diversified Income (HDIV) is managed with a distinct investment style which favours businesses with sustainable cash flows. Some of the sectors that have been worst affected by the pandemic, such as airlines and energy, were therefore absent from the portfolio. The managers took advantage of HDIV’s closed-end structure to take […]
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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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10 Jan 2020 8 min read
QuotedData’s economic roundup – January 2020
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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28 Nov 2019 16 min read
Henderson Diversified Income Trust – Soft landing likely…
Soft landing likely… …but caution is required. The managers of Henderson Diversified Income (HDIV) stuck to their guns in the face of a consensus view of rising interest rates and inflation. This stance, and their focus on high-quality credits, has been rewarded in 2019, as central banks around the world have cut interest rates to […]
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15 min read
Henderson Diversified Income Trust – Soft landing likely…
Soft landing likely… …but caution is required. The managers of Henderson Diversified Income (HDIV) stuck to their guns in the face of a consensus view of rising rates and inflation. This stance, and their focus on high-quality credits, has been rewarded in 2019, as central banks around the world have cut rates to tackle a […]
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07 Aug 2019 5 min read
QuotedData’s economic roundup – August 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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12 Jul 2019 6 min read
Quarterly investment companies roundup – Second quarter 2019
Quarterly investment companies roundup – Second quarter 2019 QuotedData news Global equities re-found momentum in June after a cautious April and May. How much longer this ten-year bull market can sustain itself continues to be the subject of much debate. The prospect of interest rate cuts in the US has re-invigorated sentiment for the time […]
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08 May 2019 3 min read
QuotedData’s investment companies roundup – May 2019
Investment Companies Roundup New research Over April, we published notes on Henderson Diversified Income, Ecofin Global Utilities and Infrastructure, Jupiter Emerging and Frontier Income, Seneca Global Income & Growth and Polar Capital Global Financials Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was […]
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15 Apr 2019 6 min read
Quarterly Investment Companies Roundup – First Quarter 2019
Quarterly Investment Companies Roundup – First Quarter 2019 QuotedData news Through the first quarter of 2019, global equities largely clawed back the losses suffered over the final weeks of 2018. How much longer this ten-year bull market can sustain itself is the subject of much debate. US interest rate rises have stalled, reflecting growing cautiousness. Elsewhere, […]
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03 Apr 2019 1 min read
Henderson Diversified Income Trust – Death rattle for bull market
Henderson Diversified Income Trust – Death rattle for bull market After a serious wobble in the last few months of 2018, the resurgence in markets that we have seen in 2019 may be the death-rattle of what is now a 10-year bull market. The managers of Henderson Diversified Income (HDIV) have been warning that markets […]
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1 min read
Henderson Diversified Income Trust – Death rattle for bull market
Henderson Diversified Income Trust – Death rattle for bull market After a serious wobble in the last few months of 2018, the resurgence in markets that we have seen in 2019 may be the death-rattle of what is now a 10-year bull market. The managers of Henderson Diversified Income (HDIV) have been warning that markets […]
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25 Jan 2019 1 min read
QuotedData review of 2018 – Annual report investment companies
QuotedData review of 2018 – Annual report investment companies 2018 – the return of volatility A trade war, Brexit, US interest rate rises, slowing Chinese growth, a US government shutdown, a dispute over Italy’s budget, the Skripal poisonings, numerous elections – there was plenty to worry about in 2018. A last-minute dive left the US […]
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12 Oct 2018 1 min read
QuotedData’s investment companies roundup – October 2018
QuotedData’s investment companies roundup – October 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in September Trian Investors 1 is a new fund that will adopt […]
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04 Oct 2018 1 min read
Henderson Diversified Income Trust – ‘Winter is coming’
The managers of Henderson Diversified Income (HDIV) are increasingly cautious on markets. Co-manager, John Pattullo, went as far as to quote ‘Game of Thrones’ in his latest blogpost. Not only are HDIV’s managers convinced that the upward phase of this economic cycle is drawing to a close but also that inflation, which has been on […]
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1 min read
Henderson Diversified Income Trust – ‘Winter is coming’
Henderson Diversified Income Trust – ‘Winter is coming’ The managers of Henderson Diversified Income (HDIV) are increasingly cautious on markets. Co-manager, John Pattullo, went as far as to quote the famous “Winter is coming” line from ‘Game of Thrones’ in his latest blogpost. Not only are HDIV’s managers convinced that the upward phase of this […]
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15 Aug 2018 1 min read
QuotedData’s investment companies roundup – August 2018
QuotedData’s investment companies roundup – August 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in July Tritax EuroBox raised its maximum target of £300 million in an […]
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1 min read
QuotedData’s Economic round up – August 2018
QuotedData’s Economic round up – August 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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10 Jan 2018 1 min read
QuotedData’s economic round up – January 2018
QuotedData’s economic round up – January 2018 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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02 Nov 2017 1 min read
Henderson Diversified Income Trust – Dear Prudence
Henderson Diversified Income Trust – Dear Prudence In the face of declining yields across its investment universe, the managers of Henderson Diversified Income Trust plc (HDIV) have decided to take a pragmatic and sensible approach by refusing to chase higher yielding but riskier opportunities. Instead the trust is paying the price for prudence by cutting its dividend. […]
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1 min read
Henderson Diversified Income Trust – Dear Prudence
Henderson Diversified Income Trust – Dear Prudence In the face of declining yields across its investment universe, the managers of Henderson Diversified Income Trust plc (HDIV) have decided to take a pragmatic and sensible approach by refusing to chase higher yielding but riskier opportunities. Instead the trust is paying the price for prudence by cutting […]
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04 May 2017 1 min read
Henderson Diversified Income Trust – Onshore, on-message, onform
Henderson Diversified Income Trust – Shift to onshore. Marten & Co has published our first note, as we initiate our research on HDIV. Henderson Diversified Income Trust (HDIV) has completed its move to a UK domicile and, from both its board and managers’ perspective, it is business as usual. With the freedom to access the whole […]
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1 min read
Henderson Diversified Income Trust – Shift to onshore
Henderson Diversified Income Trust plc (HDIV) has completed its move to a UK domicile and, from both its board and managers’ perspective, it is business as usual. With the freedom to access the whole of the fixed and floating rate income market in search of returns, its managers remain focused on producing an attractive yield […]
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13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
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27 Apr 2015 1 min read
The importance of income – where to find it?
Life used to be simpler. If you had a bit of spare cash or you wanted to save up for something you’d just stick some money in a bank or building society account. If you had a nest egg and wanted to invest it in something safe and live off the income, you’d maybe buy […]
News
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10 Jan 2024 1 min read
Sizeable proportion of Henderson Diversified shareholders opt for HHI shares
Given the choice between cash and shares in Henderson High Income, it was good to see that a sizeable proportion of Henderson Diversified Income shareholders opted to roll over their holding into Henderson High Income. The elections in connection with the scheme were: Rollover option: 100,050,505 shares Cash option: 82,022,212 shares On a temporary basis, […]
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09 Jan 2024 1 min read
QuotedData’s morning briefing 9 January 2024 – UTG, CREI, HHI, HDIV
In QuotedData’s morning briefing for 9 January 2024: Unite Group (UTG) has released fourth quarter 2023 valuation information on its student accommodation portfolio. The group’s USAF property portfolio (27,922 beds in 71 properties across 19 university towns and cities in the UK) was independently valued at £2,992m at 31 December 2023, a 2.1% increase on […]
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06 Oct 2023 1 min read
QuotedData’s weekly news update 6th October 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Henderson High Income / Henderson Diversified Income (0:40) • Pershing Square (7:16) • Octopus Renewables (10:00) Andrew McHattie spoke about Regional REIT and Digital […]
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04 Oct 2023 3 min read
Merger proposal of Henderson High Income Trust and Henderson Diversified Income Trust
Henderson High Income Trust (HHI) and Henderson Diversified Income Trust ( HDIV) have announced a proposal to combine the two companies. The combination, if approved by each company’s shareholders, will be effected by way of a scheme of reconstruction and winding up of HDIV under section 110 of the Insolvency Act 1986 and the associated […]
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28 Jul 2023 1 min read
QuotedData’s weekly news show 28th July 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • abrdn Smaller Companies Income/Shire (1:08) • Ecofin US Renewables (7:31) • Henderson Diversified Income (11:52) This week’s interview was with Uzo Ekwue & Pav […]
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25 Jul 2023 4 min read
Defensive positioning continues to weigh on Henderson Diversified Income
Henderson Diversified Income (HDIV) released its annual results for the year ended 30 April 2023. NAV total return was down 4% for the year, underperforming its benchmark by 3.7%. Shares fared slightly better, down 1% for the year. It has been a year of two halves for the company with NAV falling by 10.4% through […]
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09 Jan 2023 1 min read
Henderson Diversified Income held back by investment grade overweight
Henderson Diversified Income (HDIV) has released its interim results for the six-months ended 31 October 2022. Over the period, Henderson Diversified generated a NAV total return of -10.4% and a share price total return of -10.6%, compared to the -6.9% of its benchmark (a blend of 60% global high yield credit, 25% global investment grade […]
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22 Jul 2022 1 min read
QuotedData’s weekly news show 22nd July 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Polar Capital Technology • Henderson Diversified Income This week’s interview was with Philip Kent of GCP Infrastructure Investments Ltd – watch it again here.
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18 Jul 2022 4 min read
Henderson Diversified Income hit by ‘fundamental change in perception of inflation’
Henderson Diversified Income hit by ‘fundamental change in perception of inflation’ – Henderson Diversified Income (HDIV) has posted its annual results for the year to 30 April 2022, during which time its NAV total return was down by 9%, reflecting a fundamental change in the perception of inflation risk by the market. The share price total […]
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07 Jul 2022 1 min read
Fund Manager Brief: Oliver Packard, Janus Henderson
Oliver Packard – Head of Investment Trust Sales Oliver joined Janus Henderson from Panmure Gordon, where he was Executive Director, Investment Fund Sales. Prior to this, he spent more than five years as Sales Director in Investment Trust Sales at Cenkos Securities PLC. As Head of Investment Trust Sales at Janus Henderson, Oliver leads and […]
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27 May 2022 4 min read
QD view – Unloved quality
At a time when high inflation and rising interest rates are unnerving global stock markets, it would seem like a moment for quality companies to come to the fore. These businesses should have impeccable credentials for an uncertain world – sound business models, strong management teams, expanding market share – providing stability at a time […]
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14 Dec 2021 4 min read
Henderson Diversified Income embeds ESG within its investment process
Henderson Diversified Income embeds ESG within its investment process – Henderson Diversified Income’s board says that it has decided to make some changes to the trust’s investment objective and policy. It says that this is a continuation of a process which has already seen the trust adopt its new benchmark. The board is keen that the […]
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03 Dec 2021 2 min read
QD view – Living in interesting times
It has been an interesting week in the investment companies market. The vast flows into the sector, and the renewable energy area in particular, continue unabated. One of the IPOs that was doing the rounds seems to have failed to cross the finish line, however. Alinda Capital Infrastructure has missed its self-imposed deadline for announcing […]
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16 Sep 2021 2 min read
HDIV shareholders approve changes
HDIV shareholders approve changes – Henderson Diversified Income Trust says shareholders have approved changes to the investment objective and policy, a replacement benchmark and new Articles of Association (the latter point allows the holding of virtual and/or hybrid GMs/AGMs along with some other minor administrative changes). All of these changes are effective immediately. The new […]
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06 Jul 2021 5 min read
Henderson Diversified Income outlines new investment objective and policy
Henderson Diversified Income outlines new investment objective and policy – Henderson Diversified Income (HDIV) has released its full year results for the year to 30 April 2021, which includes details on its proposed new investment objective and policy, initiated by the regulatory requirement to transition away from LIBOR to alternative reference rates by the end […]
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08 Jan 2021 3 min read
QD view – Nothin’ but blue skies from now on…
The riot in the Capitol Building may be dominating headlines but hopefully the orange cloud over Washington may soon dissipate. Does that mean Nothin’ but blue skies from now on…? For investors, one of the key events if 2021 to date may be the Democrat’s wins in the Georgia senate races. Joe Biden will now have […]
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21 Aug 2020 2 min read
Bold move pays off for Henderson Diversified
This week we managed to catch up with John Pattullo and Nicholas Ware, two of the managers of Henderson Diversified Income Trust. The trust is the best-performing in the AIC’s debt – loans and bonds sector over one and three years. It offers a yield of 5.1% and has the lowest ongoing charges ratio (a […]
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03 Apr 2020 3 min read
Debt problems
Oil companies, airlines, travel companies, retailers – I am sure we can all think of examples of businesses that have been hit hard by COVID-19. Many of these businesses weren’t doing particularly well even before the lockdowns began. Default rates on loans to these sectors are set to rocket. Already, a large US shale oil […]
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05 Feb 2020 1 min read
Marten & Co Income Strategies Conference 2020
Marten & Co Income Strategies Conference 2020 Many thanks to those of you who made it to our inaugral Marten & Co Income Strategies Conference. We had some great presentations from a diverse range of income funds. JLEN Environmental – Shires Income – Civitas Social Housing – Henderson Diversified Income – Polar Capital Global Financials The […]
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09 Jul 2018 2 min read
Henderson Diversified Income produces modest NAV return
Henderson Diversified Income produces modest NAV return – Henderson Diversified Income Trust has published results for the year ended 30 April 2018. The net asset value total return per ordinary share for the year ended 30 April 2018 was 1.8% whilst the share price total return per ordinary share was 4.4% reflecting a widening in […]
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07 Oct 2016 1 min read
Henderson Diversified may move onshore
Henderson Diversified Income Limited is mulling a change to its corporate structure (currently it invests through a Luxembourg subsidiary). Since it was launched, there have been a number of developments in Luxembourg tax legislation and practice, in particular in relation to transfer pricing. The OECD has recently introduced the BEPS (base erosion profit shifting) framework under […]
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17 Jun 2016 2 min read
Henderson Diversified cut high yield exposure and outperformed
Over the six months to the end of April 2016, Henderson Diversified Income achieved a return on net assets of 2.4% and a return to shareholders of 1.3%. this compares to a return on the company’s benchmark, the total return over three month sterling Libor plus 2.00%, of 1.3%. A first interim dividend of 1.25p […]
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01 Mar 2016 1 min read
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 […]
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22 Jun 2015 1 min read
Henderson Diversified Income benefits from deflationary backdrop
Over the six months ended 30 April 2015, Henderson Diversified Income outperformed its benchmark, generating a total return on net assets of 5.2% as compared to 1.3% for the benchmark (three month sterling Libor plus 2.00%). The share price return was 5.9%. They have declared dividends totalling 2.5p for the period. The manager says sovereign […]
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26 Jan 2015 1 min read
Henderson Diversified Income 50% bigger than it was last year
Henderson Diversified Income has published results for the year that ended on 31 October 2014. The net asset value rose from 87.92p to 88.82p over the year but the share price slipped a little – from 91.5p to 91.25p – still a healthy premium to the asset value. The premium allowed the fund to issue a […]
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03 Jun 2014 1 min read
Henderson Diversified Income : HDIV – interims
Henderson Diversified Income has published its interim accounts covering the six months to the end of April 2014. Over that period the fund generated a total return on net assets of 4.7%. The share price did not keep pace with the net asset value so the return to shareholders was 3.5%. The fund targets returns of 1.25% over LIBOR […]
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14 Jan 2014 1 min read
Henderson Diversified Income : HDIV – results
Over the year to the end of October 2013 HDIV’s net asset value increased from 83.3p to 87.9p ( a total return, including income, of 12.0%). The dividend rose slightly from 5p to 5.05p but the Board have said that quarterly dividends will be 1.25p for the current financial year (i.e. back to 5p again). […]
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In The Press
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07 Aug 2023 1 min read
Investment trust insider on debt loans and bond funds
Investment trust insider on debt loans and bond funds – James Carthew: Soft landing vs recession weighs on bond funds Last Thursday’s interest rate decision saw the Bank of England hike interest rates by 0.25 percentage points as expected. Afterwards, interest rate swap curves were suggesting that UK interest rates would peak at about 5.75% […]
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02 Aug 2023 1 min read
Investment trust insider on corporate actions in abrdn’s funds
James Carthew: Need to cut charges lies behind Abrdn and trust changes The pace of change within the investment company sector appears to be accelerating. Just in the last few weeks we have seen Asset Value Investors win the mandate to run MIGO Opportunities (MIGO), though likely with the same management team as before, which […]
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27 Mar 2023 1 min read
Investment trust insider on debt funds
Investment trust insider on debt funds – James Carthew: Float your eye over debt funds As interest rates continue to climb, the future returns available from debt funds are looking more interesting. However, the picture is clouded by concerns about defaults. Some closed-end funds that should probably be raking in new money from investors are […]
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27 Feb 2023 1 min read
Put your trust in dividends and you can beat those savings rates
David Brenchley, February 26 2023, The Sunday Times: With the best one-year fixed savings account now paying 4.31 per cent, riskier investments such as stocks and shares may seem less attractive than they have been for a long time. If you can get a high interest rate on your money, why take more risk in […]
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23 Mar 2022 1 min read
Interest rate rises trigger rotation
James Carthew for Investment Week, 17 March 2022: In the run up to the end of 2021 and into the early part of 2022, investors’ attention was focused on the growing threat of interest rate rises as a way of combating inflation. That triggered a sharp rotation out of growth stocks. In the space of […]
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03 Aug 2021 1 min read
Investment trust insider on Henderson Diversified Income
Investment trust insider on Henderson Diversified Income – James Carthew: Henderson Diversified banks big bond gains from Covid bargains This week I want to spotlight Henderson Diversified Income & Growth (HDIV), whose fund managers John Pattullo and Jenna Barnard recently updated investors following the investment trust’s annual results last month. These showed the £161m closed-end fund […]
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01 Mar 2021 1 min read
Funds and trusts yielding above 5%: opportunity or value trap?
Funds and trusts yielding above 5%: opportunity or value trap? by Cherry Reynard from interactive investor | 25th February 2021 11:42 The year 2020 may have been a dismal one for income seekers, but the outlook for 2021 is brighter. There is now a wealth of funds and investment trusts showing yields of more than 5%. However, many investors saw […]
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27 Nov 2020 1 min read
Bargains abound as investment trust sector yield spikes to 21st century high
Bargains abound as investment trust sector yield spikes to 21st century high Unweighted yield hit 5.2% at end-October David Brenchley, Investment Week, 25 November 2020 Income has been hard to come by for UK investors in recent years, and this was particularly the case in 2020 as Covid-19 wreaked havoc on dividends from stocks around […]
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21 Sep 2020 1 min read
Investors Chronicle’s top 100 Funds 2020: Bonds
Top 100 Funds 2020: Bonds By Leonora Walters and David Baxter, Investors Chronicle, 11 Sept 2020 Many investors’ portfolios should have an allocation to assets other than equities for diversification. And with cash rates so low bonds can be a useful component in income portfolios. But although bonds can be less volatile than equities they are far […]
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31 Mar 2020 1 min read
10 investment trusts for your Isa 2020
10 investment trusts for your Isa 2020 By Dave Baxter, Investors Chronicle, 3/6/2020 Features such as the use of gearing – debt – and the ability to pay income from capital reserves give trusts advantages that could give your Isa an edge. They are also, arguably, better suited to investing in illiquid assets such as […]
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25 Mar 2020 1 min read
10 investment trusts for your Isa 2020
10 investment trusts for your Isa 2020 Dave Baxter, Investors Chronicle, 6 March 2020 Features such as the use of gearing – debt – and the ability to pay income from capital reserves give trusts advantages that could give your Isa an edge. They are also, arguably, better suited to investing in illiquid assets such as property and private equity so could […]
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03 Dec 2019 2 min read
Investment trust insider on Henderson Diversified Income
Investment trust insider on Henderson Diversified Income – James Carthew: the bond fund shunning loans in a slowdown For some time now, the economic headlines have been getting gloomier. Hopes of an end to trade hostilities buoy markets from time to time, as do hopes of a resolution to Brexit. Nevertheless, a consensus has grown over […]
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07 Feb 2019 1 min read
Investment Trust Insider on M&G Credit Income
Investment Trust Insider on M&G Credit Income – James Carthew: M&G hopes lower bond target will still appeal after loan wobble It was not only equity markets that struggled at the end of last year, many debt funds had a torrid time. One of the worst affected has been Marble Point Loan Financing (MPLF). It said […]
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09 Jan 2019 1 min read
Investment Trust Insider on 2018
Investment Trust Insider on 2018 – Lindsell Train leads best and worst investment trusts of 2018 (NB the headlines are devised by Citywire!!) 2018 is attracting headlines as the worst year for markets since 2008. However, for the investment trust industry, there was much to celebrate. This was certainly the case for the new issue market […]
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15 Oct 2018 1 min read
Investment Trust Insider : look out for credit quality not rising rates
Investment Trust Insider : look out for credit quality not rising rates James Carthew, head of investment company research at QuotedData and Investment Trust Insider columnist wrote the following article: Investment Trust Insider : look out for credit quality not rising rates Markets move in cycles and, for a long time now, we have been in an upcycle. […]