Henderson Opportunities Trust plc aims for a higher than average rate of capital growth over the medium to long term, from a portfolio of recovery and ‘special opportunities’ stocks predominantly in the UK.
Key Facts
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Experience counts
James Henderson has managed the Trust since January 2007. James joined Henderson in 1984 and has been involved with investment trusts throughout his career.
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Open to opportunityThe fund manager is free to seek out the best prospects with no restraint on sector or size of company, and is benchmarked against the FTSE All-Share Index.
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An individual approach
The fund manager uses a contrarian investment style, seeking recovery and turnaround opportunities in out-of-favour companies.
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Actively seeking growthDividend growth is not a priority, the trust makes active use of gearing to capitalise on good opportunities.
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Wide exposureThe trust invests in both the main stock market and AIM (Alternative Investment Market) stocks.
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Reasons to Invest
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Dynamic potentialThe fund manager is unconstrained by market size and has the freedom to invest from start ups to FTSE 100s, with AIM expertise within the fund management.
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Signs of recovery
After a poor 2007/8, the portfolio is positioned for recovery.
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Stock picking skills
James Henderson has an exceptional long-term track record on other funds, including the Lowland Investment Company.
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Motivated to achieve
A performance fee closely aligns the interest of the manager with those of the shareholders.
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Price
| Price | Discount | NAV*
(28/07/2010) | Div Yield
(Net) |
| Ordinary | 376.0 | - | 468.8 | 2.5 |
| Subscription | 3.1 |
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| Package Discount** | - | -20.22 | - | - |
As at
29/07/2010Source: Financial Express
** Package Discount - calculated on the 'package' of five ordinary shares and one subscription share.
Fund Manager's Commentary - June 2010
Share prices generally retreated in June, buffeted by concerns over the capital positions of banks and the prospects of a slowdown in China. These worries meant investors did not focus on company results, that in the aggregate were good. Generally, companies are generating cash and paying down debt, which places them well for a more difficult economic climate brought about by government spending cuts and a slowing global economy. Company valuations are low and this is leading to increased takeover activity which the Trust should benefit from in the coming months.