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Henderson Global HGL Interim Management Statement

  Henderson Global (HGL) - Interim Management Statement

RNS Number : 7289R
Henderson Global Trust PLC
21 November 2012




HENDERSON GLOBAL TRUST PLC

HENDERSON GLOBAL INVESTORS



21 November 2012



                          HENDERSON GLOBAL TRUST PLC

                                      

                         Interim Management Statement

          Review of the period from 1 August 2012 to 31 October 2012



The Directors of Henderson Global Trust plc hereby announce the following:



MATERIAL EVENTS OR TRANSACTIONS DURING THE PERIOD



Portfolio Commentary

In the quarter to 31  October 2012 the Company's  net asset value ("NAV")  per 
ordinary share total return (including dividends reinvested) was 1.3% compared
to a total return of 3.0% from the composite benchmark.



There was a pronounced rotation in markets with financial stocks being the
strongest performers. Several European financial stocks rose by more than 20%
over the three month period. Although the Company's positions in Citigroup and
Lloyds performed better than this, each rising by more than 30%, the portfolio
has a small underweight position in the financial sector which marginally
detracted from performance. Conversely, many stocks in defensive sectors, such
as consumer staples and telecoms, underperformed. In particular, tobacco
stocks performed poorly after both the Australian and Russian governments
proposed new anti-smoking legislation. The Company's positions in Japan
Tobacco, British American Tobacco and Philip Morris International all
detracted from performance.



Dividends

A second interim dividend of  2.5p per ordinary share  in respect of the  year 
ended 31January 2013 was paid on 1 October 2012 to holders on the register of
members on 14September 2012. The ex-dividend date was 12 September 2012.



The Board has declared a third interim dividend of 2.5p per ordinary share  to 
be paid on 2January 2013 to shareholders on the register on 7 December  2012. 
The shares will be marked ex-dividend on 5 December 2012.

                                      

Share Capital

During the three month  period the Company bought  back 46,432 shares, all  of 
which were placed into treasury. Accordingly,  the issued share capital at  31 
October 2012 was 41,557,163  ordinary shares of 25p  each, of which  1,847,472 
are held in treasury  and have no  voting rights. Since  that date no  shares 
have been repurchased and placed into treasury.



There are no other material events or transactions to report.



PERFORMANCE AND FINANCIAL HIGHLIGHTS



Financial Position

                                           at 31 October 2012 at 31 July 2012
                                               (unaudited) £m  (unaudited) £m
Company's portfolio of investments                       136.1           133.0
Net current assets (including                              3.1             5.4
cash)
                                                      -------         -------
                                                        139.2           138.4
3.75% cumulative preference stock                       (1.0)           (1.0)
                                                      -------         -------
Net assets attributable to ordinary shares               138.2           137.4
                                                         ====            ====

  


Total return performance (including dividends reinvested)

                                                                       

                                      3 months 1 year 3 years 5 years 10 years
Net Asset Value per Ordinary                                            
Share*
                                         +1.3%  +6.5%  +27.0%  +27.4%  +160.3%
Share price                             +5.0%  +5.5%  +22.1%  +31.7%  +198.9%
Benchmark **                            +3.0% +10.2%  +30.5%  +10.9%  +114.1%
Average discount for quarter    12.3%                                    
using NAV including revenue



(Sources: Association of Investment Companies/Datastream)

* Inclusive of current year revenue. ** 50% FTSE All-Share Index : 50% MSCI
World (Ex UK) Index



THE PORTFOLIO (Source: Henderson)



Sector Breakdown

                                              % at          % at

                                    31 October 2012 31 July 2012
Financials                                     16.9          16.1
Energy                                         14.2          14.3
Consumer Staples                               14.0          16.7
Consumer Discretionary                         12.8          12.4
Health Care                                    11.5          10.8
Materials                                      10.0           9.1
Information Technology                          6.4           6.2
Telecommunications services                     6.3           6.8
Utilities                                       3.0           2.8
Industrials                                     2.7           4.8
Real Estate and Investment services             2.2             -

                                            -------       -------
                                                              
Total                                         100.0         100.0

                                               ====          ====



Top 10 Investments at 31 October 2012 % of portfolio
                                                  
Royal Dutch Shell                                4.0
Nestlé                                           3.2
Vodafone                                         3.1
BP                                               2.9
HSBC                                             2.9
Syngenta                                         2.7
Novartis                                         2.6
GlaxoSmithKline                                  2.6
Oracle                                           2.3
British American Tobacco                         2.3
                                            -------
Top 10 =                                        28.6





Top 10 Investments at 31 July 2012 % of portfolio
Royal Dutch Shell                             4.2
Vodafone                                      3.4
Nestlé                                        3.2
British American Tobacco                      3.1
BP                                            2.9
GlaxoSmithKline                               2.8
Novartis                                      2.7
HSBC                                          2.6
Philip Morris International                   2.5
Syngenta                                      2.5
                                         -------
Top 10 =                                     29.9



The objective of Henderson Global Trust plc is long-term capital growth from a
concentrated portfolio of international equities with a secondary objective to
increase dividends over the longer term.



The Manager is Henderson Global Investors Limited. Further information on  the 
Company, including an up to date NAV and share price information, can be found
on the Manager's website at www.hendersonglobaltrust.com.









For further information, please contact:



Brian O'Neill              James de Sausmarez

Fund Manager               Director and Head of Investment Trusts

Henderson Global Trust plc Henderson Global Investors

Telephone: 020 7818 2112   Telephone: 020 7818 3349

                                      

                                      

                                      

                                      



Neither the contents of the Company's website nor the contents of any website
accessible from hyperlinks on the Company's website (or any other website) is
           incorporated into, or forms part of, this announcement.

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


IMSLLFIRLILLFIF -0- Nov/21/2012 16:02 GMT
 
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