23rd Apr 2015 17:35
LONDON (Alliance News) - Henderson Far East Income Ltd Thursday reported a net asset value total return of 3.3% and share price total return of 4.0% in the six months ended February 28.
The trust said the sterling adjusted FTSE All World Asia Pacific ex Japan Index returned 3.9% in the same period.
"A net asset value total return of 3.3% and share price total return of 4.0% was a creditable performance given the weakness in Asian markets early in the period. Asian valuations are not excessive compared to history and the business environment has been improving across the region with significant reforms in China, India, Indonesia and Korea," Chairman John Russell said.
"Whilst income over the period has been lower than the equivalent period last year due to lower levels of special dividends, Asian companies continue to generate free cash flow which will translate into higher dividends over time. Gearing has remained modest throughout the period and was around 4% at the period end reflecting the volatility in markets," Russell said.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Hend.far East