For financial professionals in the UK

Horizon Asian Dividend Income Fund

Aims to capture the income and capital growth potential of companies in Asia, one of the world’s fastest-growing regions


GBP 6.03
As of 08/12/2023

1-Day Change
GBP 0.04 (0.67%)
As of 08/12/2023



The Fund aims to provide an income in excess of the income generated by the MSCI AC Asia Pacific ex Japan High Dividend Yield Index over any 5 year period with the potential for capital growth over the long term (5 years or more).


The Fund invests at least two-thirds of its assets in a concentrated portfolio of shares (equities) and equity-related securities of companies, of any size, in any industry, in the Asia Pacific region (excluding Japan) and may include China A-Shares. The Fund may also invest in other assets including companies outside this region, cash and money market instruments. The investment manager may use derivatives (complex financial instruments) to reduce risk, to manage the Fund more efficiently, or to generate additional income for the Fund. The Fund is actively managed with reference to the MSCI AC Asia Pacific ex Japan High Dividend Yield Index, which is broadly representative of the companies in which it may invest, as this forms the basis of the Fund's income target and the level above which performance fees may be charged (if applicable). The investment manager has discretion to choose investments for the Fund with weightings different to the index or not in the index, but at times the Fund may hold investments similar to the index.


The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.
Potential investors must read the prospectus, and where relevant, the key investor information document before investing.
This website is a Marketing Communication and does not qualify as an investment recommendation.


  • Well placed to tap into the region’s strong structural growth opportunities and the shift toward a more progressive dividend culture
  • Disciplined, value-driven investment process that focuses on dividend growth and high-yielding companies
  • Aims to deliver consistent, growing income streams and long-term capital appreciation
Past performance does not predict future returns. 


Mike Kerley

Portfolio Manager

Industry since 1985. Joined Firm in 2004.

Sat Duhra

Portfolio Manager

Industry since 2000. Joined Firm in 2011.


Past performance does not predict future returns. All performance data includes both income and capital gains or losses and reflects the deduction of any ongoing charges or other fund expenses.
Discrete Performance (%)
As of 30/09/2023
I3q GBP (Net) MSCI AC Asia Pacific Ex Japan High Dividend Yield NR
Quarter End
As of 30/09/2023
Sep-2022 - Sep-2023 Sep-2021 - Sep-2022 Sep-2020 - Sep-2021 Sep-2019 - Sep-2020 Sep-2018 - Sep-2019
I3q GBP (Net) -2.26 -2.59 8.37 -11.19 7.32
MSCI AC Asia Pacific Ex Japan High Dividend Yield NR 9.51 1.57 16.86 -10.57 3.14
Cumulative & Annualised Performance (%)
As of 30/11/2023
I3q GBP (Net) MSCI AC Asia Pacific Ex Japan High Dividend Yield NR
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
I3q GBP (Net) 2.40 -4.68 -5.25 -0.99 0.79 4.17 6.39
MSCI AC Asia Pacific Ex Japan High Dividend Yield NR 2.04 4.70 2.89 5.76 4.36 6.83 7.64
Calendar Year Returns (%)
As of 30/09/2023
I3q GBP (Net) MSCI AC Asia Pacific Ex Japan High Dividend Yield NR
YTD 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
I3q GBP (Net) -4.28 -1.46 0.92 -3.84 16.27 -5.84 17.99 23.27 -2.85 9.17 3.04
MSCI AC Asia Pacific Ex Japan High Dividend Yield NR 5.74 2.56 7.62 -1.78 10.17 -5.49 25.13 27.34 -3.91 9.51 1.73
Calendar Year Returns (%)
Year I3q GBP (Net) Index
2022 -1.46 2.56
2021 0.92 7.62
2020 -3.84 -1.78
2019 16.27 10.17
2018 -5.84 -5.49
2017 17.99 25.13
2016 23.27 27.34
2015 -2.85 -3.91
2014 9.17 9.51
2013 3.04 1.73
2012 19.99 17.24
2011 -12.45 -14.75
2010 18.38 22.14
2009 34.56 54.61
2008 -17.68 -33.03
2007 from 18/01/2007 30.02 35.78
Initial Charge 0.00%
Annual Charge 1.00%
Ongoing Charge
(As of 30/06/2023)
Performance Fee 10% of the 'Relevant Amount'
Hurdle Rate MSCI AC Asia Pacific ex Japan High Dividend Yield


Top Holdings (As of 31/10/2023)
% of Fund
Taiwan Semiconductor Manufacturing 4.57
Macquarie Korea Infrastructure Fund 4.39
Samsung Electronics 3.52
Vinacapital Vietnam Opportunity Fund Ltd USD 3.42
BHP Group 3.16
MediaTek 3.16
NTPC 3.06
Power Grid Corp of India 2.98
Lenovo Group 2.92
Woodside Energy Group 2.75


  • ​The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • ​Past performance does not predict future returns.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • Shares/Units can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
  • Emerging markets expose the Fund to higher volatility and greater risk of loss than developed markets; they are susceptible to adverse political and economic events, and may be less well regulated with less robust custody and settlement procedures.
  • If a Fund has a high exposure to a particular country or geographical region it carries a higher level of risk than a Fund which is more broadly diversified.
  • This Fund may have a particularly concentrated portfolio relative to its investment universe or other funds in its sector. An adverse event impacting even a small number of holdings could create significant volatility or losses for the Fund.
  • The Fund may use derivatives with the aim of reducing risk or managing the portfolio more efficiently. However this introduces other risks, in particular, that a derivative counterparty may not meet its contractual obligations.
  • If the Fund holds assets in currencies other than the base currency of the Fund, or you invest in a share/unit class of a different currency to the Fund (unless hedged, i.e. mitigated by taking an offsetting position in a related security), the value of your investment may be impacted by changes in exchange rates.
  • Securities within the Fund could become hard to value or to sell at a desired time and price, especially in extreme market conditions when asset prices may be falling, increasing the risk of investment losses.
  • The Fund may incur a higher level of transaction costs as a result of investing in less actively traded or less developed markets compared to a fund that invests in more active/developed markets. These transaction costs are in addition to the Fund's Ongoing Charges.
  • Some or all of the ongoing charges may be taken from capital, which may erode capital or reduce potential for capital growth.
  • The Fund could lose money if a counterparty with which the Fund trades becomes unwilling or unable to meet its obligations, or as a result of failure or delay in operational processes or the failure of a third party provider.
  • In addition to income, this share class may distribute realised and unrealised capital gains and original capital invested. Fees, charges and expenses are also deducted from capital. Both factors may result in capital erosion and reduced potential for capital growth. Investors should also note that distributions of this nature may be treated (and taxable) as income depending on local tax legislation.
  • Funds incur costs as a necessary part of buying and selling the underlying investments, these are otherwise known as portfolio transaction costs, and include charges such as broker commission and Stamp Duty.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved.
  • Summary of Investor rights
  • Janus Henderson Investors Europe S.A. may decide to terminate the marketing arrangements of this Collective Investment Scheme in accordance with the appropriate regulation.
  • Information on compliance with EU Sustainability related disclosures can be found here.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report. Please refer to the prospectus of the UCITS and to the KID before making any final investment decisions.