Henderson High Income Trust PLC Update from QuotedData
December 14 2023 - 12:04PM
RNS Non-Regulatory
TIDMHHI
Henderson High Income Trust PLC
14 December 2023
Henderson High Income Trust - Update from QuotedData
14(th) December 2023
Improving outlook on a double discount
Henderson High Income (HHI) has recently announced that
Henderson Diversified Income will be merged into it, subject to
shareholder approval, which will add advantages of scale to HHI in
the coming months, such as enhanced liquidity and the possibility
of lower charges.
For the new HHI shareholders, the timing of this merger may be
fortuitous, as HHI's manager David Smith believes that a number of
key risks facing the UK equity market are reducing: it is likely to
avoid a material recession, inflationary pressures have diminished,
and political risk should fall away as the next government seems
likely to be more centrist.
David's bullishness has led him to rotate HHI into unloved UK
mid cap companies, while also increasing HHI's bond exposure to
take advantage of higher returns on offer. The combination of the
valuation discount on UK stocks with HHI's current share price to
net asset value (NAV) discount of 8.4% (which is below its
three-year average) offers an attractive entry point based on its
apparent undervaluation.
Full Research:
https://quoteddata.com/research/henderson-high-income-improving-outlook-double-discount-qd/
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December 14, 2023 12:04 ET (17:04 GMT)
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