Henderson European Focus Trust PLC
Price information
Instrument information
Last 5 trades
| Date | Time | Price | Currency | Volume | Trade Value | Trade type | Trade flag | MIC |
|---|---|---|---|---|---|---|---|---|
| 05.06.20 | 09:33:50 | 1,225.00 | GBX | 11,800 | 144,550.00 | Off-Book | LRGS | XLON |
| 05.06.20 | 15:56:45 | 1,232.98 | GBX | 300 | 3,698.94 | Off-Book | - | XLON |
| 05.06.20 | 14:49:32 | 1,231.54 | GBX | 674 | 8,300.55 | Off-Book | - | XLON |
| 05.06.20 | 14:03:10 | 1,226.54 | GBX | 400 | 4,906.14 | Off-Book | - | XLON |
| 05.06.20 | 12:14:45 | 1,230.00 | GBX | 5,000 | 61,500.00 | Off-Book | LRGS | XLON |
Equity Research
from Henderson European Focus Trust PLC
Henderson European Focus - Overview
Henderson European Focus Trust aims to offer investors attractive total returns through a highly concentrated portfolio of European companies. The portfolio is comprised of just 45 stocks, with the top ten making up close to 40% of the total NAV. The manager, John Bennett, utilises a bottom-up approach to portfolio selection, looking for high-quality companies with strong balance sheets and cash-flow potential. However, he still places a high level of importance on the price, and won’t overpay to include a company in the portfolio. The trust has a strong track record relative to the benchmark (the FTSE World Europe ex UK), having outperformed in eight of the past ten years. The trust has also outperformed its AIC peer group in seven of these years. Performance has been equally impressive in recent times, with the trust generating NAV total returns of 24.8% over 2019. In comparison, its AIC Europe and IA Europe peers generated NAV total returns of 22.6% and 20.4% respectively while the benchmark returned 20.4%. Despite the strong recent performance, the trust continues to trade at a double-digit discount (10.1%). This is the second-widest discount in the eight-strong AIC Europe sector, where the weighted average discount sits at 7.2%.
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