Henderson European Focus Trust PLC Results analysis from Kepler Trust Intelligence
13 Diciembre 2023 - 6:31AM
RNS Non-Regulatory
TIDMHEFT
Henderson European Focus Trust PLC
13 December 2023
Henderson European Focus Trust (HEFT)
13/12/2023
Results analysis from Kepler Trust Intelligence
Henderson European Focus's (HEFT's) NAV and share price total
return for the year to 30/09/2023 were 24.1% and 27.7%
respectively, outperforming the benchmark, the FTSE World Europe ex
UK, which produced a total return of 20.5%. The equivalent NAV
total return figure for the AIC Europe peer group was 20.0%. The
trust has also outperformed its benchmark over three, five, seven
and ten years. Total dividends for the year were 4.35 pence per
share (2022: 4.35p). At the closing share price on 12/12/2023 of
167p this represents a yield of 2.6%.
Co-manager Tom O'Hara very recently appeared in a webinar hosted
by Kepler, which can be viewed here, where among other things he
made the observation that European equities are, on a forward P/E
basis, cheaper than they have ever been compared to US equities.
Industry fund flow data shows that during 2023, investors haven't
been selling European equity funds in the huge volumes they did in
2022, but neither have they re-embraced them, with a steady drip of
selling. So, despite good performance since the lows of September
2022, these low valuations may yet help turn the tide on investor
sentiment, which could be very constructive for European equities
generally.
HEFT is currently trading at a 13% discount. With European
equities at exceptionally low valuations, and notwithstanding the
strong performance of the last year, we think this could be a very
good entry point for long-term investors.
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(END) Dow Jones Newswires
December 13, 2023 07:31 ET (12:31 GMT)
Henderson European Focus (LSE:HEFT)
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