Coronavirus Update

Henderson Far East Income - Half-year Report

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Unaudited results for the half-year ended 28 February 2021

This announcement contains regulated information

Investment 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.

Performance highlights for the six months to 28 February 2021

  • Net asset value per ordinary share total return1 was 7.4% compared to a total return of the FTSE All-World Asia Pacific ex Japan Index of 17.5% and MSCI AC Asia Pacific ex Japan High Dividend Yield Index of 12.8% (both on a sterling adjusted basis)
  • Share price total return2 was 6.8%
  • Shares trading at a premium3 of 2.7% at the period end
  • Share issuance in the period totalling 2.8m shares raising £9.1m for investment
  • Two quarterly dividends of 5.80p each were paid or payable during the period, representing a 1.8% increase on the same period last year

Financial highlights

 

 

 

at

28 February 2021

at

31 August 2020

NAV per ordinary share

311.52p

301.02p

Share price

320.00p

311.00p

Net assets

£449,505,000

£425,927,000

Premium 3

2.7%

3.3%

Dividend yield

7.3%4

7.4%5

 

Total return performance (including dividends reinvested and excluding transaction costs)

 

6 months

%

1 year

%

3 years

%

5 years

%

10 years

%

NAV1

7.4

5.0

3.0

53.0

89.7

Share price2

6.8

11.1

5.6

59.7

89.3

AIC sector average6

17.3

21.2

21.6

94.3

143.6

FTSE All-World Asia Pacific ex Japan Index

17.5

28.4

28.8

111.1

135.5

MSCI AC Pacific ex Japan High Dividend Yield Index

12.8

10.1

7.0

66.3

93.8

 

 

 

 

 

 

The Company does not have a formal benchmark. It uses the FTSE All-World Asia Pacific ex Japan and MSCI AC Asia Pacific ex Japan High Dividend Yield indices (sterling adjusted with dividends reinvested) for reference purposes only.

 

1.  Net asset value per ordinary share total return (including dividends reinvested and excluding the cost of reinvestment)

2.  Share price total return (with dividends reinvested) using mid-market closing price

3.  The premium expresses, as a percentage, the difference between the closing mid-market share price and net asset value, including current year revenue, as at the period end date

4.  Dividend yield based on a share price of 320.00p and dividends for the twelve months to 28 February 2021 totalling 23.2p per ordinary share

5.  Dividend yield based on a share price of 311.00p and dividends for the twelve months to 31 August 2021 totalling 23.0p per ordinary share 

6.  The AIC sector is the Asia Pacific Equity Income sector

Sources: Morningstar Direct, Refinitiv Datastream