9th Apr 2014 17:12
LONDON (Alliance News) - Henderson Far East Income Ltd Wednesday said its net asset value total return fell 2.6% in sterling terms over the half-year to the end of February, against a 0.8% fall in the FTSE All World Asia Pacific ex Japan Index.
"Performance during the first half of your company's financial year has been somewhat subdued. Continued unrest in the Middle East and fears over the stability of some emerging markets caused investors to favour the more developed markets," Chairman John Russell said in a statement.
Russell said the net asset value total return was restrained by the strength of sterling.
"Asian stock markets are likely to be volatile over the coming months. The strength of the recovery in the US together with speculation over the ending of US quantitative easing will remain key influences on the mood of the market," Russell said.
"Nevertheless the outlook for revenue growth remains positive with dividend pay-out ratios at record lows and many Asian companies, outside the traditional yielding sectors, well placed to grow their dividends. In the medium to long term, the strong economic fundamentals and attractive valuation of Asian companies should deliver good returns for shareholders," Russell added.
The trust's shares Wednesday closed at 307.00 pence, down 0.3%.
By Samuel Agini; [email protected]; @samuelagini
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