Henderson Far East Income Limited Edison issues update on Henderson FEI
19 Luglio 2023 - 8:00AM
RNS Non-Regulatory
TIDMHFEL
Henderson Far East Income Limited
19 July 2023
London, UK, 19 July 2023
Edison issues update on Henderson Far East Income (HFEL)
Henderson Far East Income (HFEL) is managed by Mike Kerley and
Sat Duhra, who are genuine income investors. This is evidenced by
the trust's very attractive double-digit dividend yield, which is
well above its peer group, and is a 'natural' distribution as it is
fully paid out of income. HFEL's managers have been increasing the
trust's allocation to Chinese-listed companies in anticipation of a
post-COVID economic recovery in the country; China now makes up
around a quarter of the fund. Meanwhile, they have retained an
underweight position in Taiwanese and technology stocks, given the
limited yields and more demanding valuations.
The managers' focus on companies that can generate sustainable
growth in cash flow and dividends, along with the fund's
below-market technology exposure, means that HFEL should be
relatively defensively positioned during periods of market
weakness, although performance could lag during a strong growth-led
bull market. Investors appreciate HFEL's high dividend yield, which
is evidenced by its shares having regularly traded at a premium to
NAV since 2007, and it is the highest-rated fund in its peer group
(the only one trading at a premium).
Click here to view the full report.
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