6th Jul 2021 06:58
Henderson Diversified Income Trust PLC - fixed income-focused fund - For the year ended April 30, net asset value total return was 13.5%, compared to benchmark reading of 2.2% gain. Benchmark is the average return on a rolling annual basis of three-month sterling Libor +2.
However, total return performance lagged a 15.5% gain from Henderson's replacement benchmark.
Replacement benchmark is a composite made up of 60% ICE Bank of America Global High Yield Constrained Index, 25% ICE Bank of America Global BBB Corporate Bond Index and 15% Credit Suisse Western European Leveraged Loan Index.
Net asset value per share as at April 30 was 91.87 pence, up 8.1% from 85.00p the same date the year before, as the number of portfolio investments held rose to 129 from 98. Keeps dividend per share at 4.40p.
"This underperformance reflected the timing of the company's year end. The asset value of the company's portfolio rallied earlier and further than the benchmark. As a consequence, this outperformance was captured in last year's numbers when the portfolio outperformed the benchmark by 6.8%. The fund managers believe they have a bias towards higher quality, sustainable businesses which were better equipped to face the challenge of Covid," said Chair Angus Macpherson.
Current stock price: 85.60 pence
Year-to-date change: down 7.1%
By Dayo Laniyan; [email protected]
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