2nd Apr 2020 17:03
(Alliance News) - Henderson Eurotrust PLC on Thursday said it outperformed is benchmark in its first half, but said Covid-19-related uncertainty has had a "material impact" on the market.
The European investor - which does not invest in UK companies - said that for the six-month period to the end of January, net asset value per share total return was 3.1%. The FTSE World Europe Index, excluding the UK, had a negative 1.0% total return.
The company's net asset value per share rose to 1,309.2 pence on January 31, up from 1,106.8p the year before. Net assets at the end of the period also rose, recorded at GBP277.4 million from GBP234.5 million.
Henderson Eurotrust said it will pay an interim dividend of 8.0p, unchanged from the year prior.
Henderson Eurotrust Fund Manager Jamie Ross said that the performance during the period was driven by its holdings in companies such as Novo Nordisk AS, Roche Munich Re., Cellnex Telcom, RWE and Delivery Hero.
However, he noted that markets have fallen since the global outbreak of the Covid-19 virus.
As at January 31, the stock was trading at 1,200.0p each, up from 1,000.0p at the same time the previous year. However, the shares were trading 1.4% lower at 986.00p each on Thursday afternoon in London.
Ross added that looking forward, the best strategy would be to invest in high-quality, high-return and resilient companies like Novo Nordisk, Cellnex and Hermes.
Shares closed 1.0% lower at 990.00p each on Thursday in London.
"For long-term investors, volatility is an opportunity, not a risk. I am confident in our positioning and will continue to retain balance in our exposures by predominantly considering two types of investment opportunities: first, in companies where we see high and sustainable returns that are undervalued by the market, and second, in companies where I can see a material improvement in medium-term business prospects," Ross said.
By Ife Taiwo; [email protected]
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