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Colleen Sutcliffe
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201 Bishopsgate, London, EC2M 3AE

Henderson Far East Income Limited Analysis

Overview

Objective

The Company seeks to provide shareholders with a growing total annual dividend per share, as well as capital appreciation, from a diversified portfolio of investments from the Asia Pacific region.

Highlights

A portfolio of value orientated Asia Pacific equities with a focus on cash flow generation from companies with the ability to sustain and grow dividends.

Performance

The following information was extracted from Henderson Far East Income Limited's full year results, released 8 November 2024:

Performance

Performance for the 12 months to 31 August 2024 has seen an improvement compared with prior years, with the NAV total return in positive territory at 11.9%. This is only slightly behind the FTSE All-World Asia Pacific ex Japan Index which returned 13.0% for the same period. The return for the MSCI AC Asia Pacific ex Japan High Dividend Yield Index returned 17.4%, which we lagged by 5.5%.

Alongside the improvement in NAV total return figures, it is worth noting the recovery in the capital return position. While this is still not yet positive, it is significantly better than this time last year.

I am also very pleased to report that the share price total return was in positive territory at 16.6%. These figures reflect the successful work undertaken by our Fund Manager, Sat Duhra, in restructuring the Company’s portfolio during the closing months of the 2023 calendar year.

In any given GDT Event the GDT website may display a range of results other than price, as explained:

  • ' – ' means that the product was not offered.
  • ‘n.s.’ (not sold) means that no product was sold.
  • ‘n.p.’ (not published) means that product was sold at the starting price, and therefore GDT cannot publish the winning price. For an explanation of this rule, see question 9 in the "Common questions" page under "About GDT" at www.globaldairytrade.info
  • 'n.a.' for the Average Winning Price means that no prices were available for that contract period (for the reasons above), and therefore no average price was applicable.

For clarification where GDT publishes ' – ' or ‘n.s.’ (not sold) NZX results will also display a '-' or 'n.s'.

Where the GDT website displays ‘n.p.’ (not published), NZX will display the starting price. Note that the NZX results page will not differentiate between prices that are equal to starting price or those that have exceeded starting prices.

'n.a.' for the Average Winning Price as displayed on the GDT website are not displayed on this results page.

Note that N/A in the table below means there has been no change between current and previous price.