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HEFT Henderson European Focus Trust plc

A focused investment trust of between 35 and 45 companies from Europe with an emphasis on maximising total returns

ISIN
GB0005268858

Share price
1,200.00p
As of 27/02/2020

Estimated NAV
1,337.35p
As of 27/02/2020

Discount / Premium
-10.27%
As of 27/02/2020

Yield
2.61%
As of 27/02/2020

Buy via interactive investor Buy via AJ Bell Youinvest

Quicklinks

Morningstar ratings are based on the representative share class of this fund and are dated to the last month-end upon availability from Morningstar.

Overview

INVESTMENT OBJECTIVE

The Company seeks to maximise total return from a focused portfolio of listed stocks, mainly in Contintenal Europe.

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 latest annual report and where relevant, the key investor information document before investing. This website is for promotional purposes and does not qualify as an investment recommendation.

ABOUT THIS TRUST

  • Prioritises value when allocating funds and is uninhibited by index weightings
  • The team looks for inflexion points whereby a company or sector is set for a period of growth
  • The portfolio can hold companies of any size but has a strong bias towards large cap
Past performance is not a guide to future performance. 
 

ANNOUNCEMENTS

View the latest announcements for this Trust:

London Stock Exchange

PORTFOLIO MANAGEMENT

John Bennett

John Bennett

Director of European Equities | Portfolio Manager

Industry since 1987. Joined Firm in 2011.

Tom O’Hara

Tom O’Hara

Portfolio Manager

Industry since 2006. Joined Firm in 2018.

Performance

Past performance is not a guide to future performance. Performance is shown based on the Share Price and does not include income reinvested.
Discrete Performance (%)
As of 31/12/2019
Net Asset Value Price
 
Quarter End
As of 31/12/2019 		Dec-2018 - Dec-2019 Dec-2017 - Dec-2018 Dec-2016 - Dec-2017 Dec-2015 - Dec-2016 Dec-2014 - Dec-2015
Net Asset Value 24.35% -10.46% 14.71% 17.93% 11.70%
Price 31.53% -20.85% 28.18% 4.05% 12.21%
© Morningstar 2020. All rights reserved. The Price and Net Asset Value total returns.
Cumulative Performance (%)
As of 27/02/2020
Net Asset Value Price
 
As of 27/02/2020 1MO 3MO YTD 1YR 3YR 5YR
Net Asset Value -4.36% -5.21% -2.89% 11.10% 18.13% 44.81%
Price -7.12% -1.89% -7.98% 11.98% 10.57% 35.16%
© Morningstar 2020. All rights reserved. The Price and Net Asset Value total returns.
DIVIDENDS
Ex Dividend Date Pay Date Amount div p/ps
09-Jan-20 07-Feb-20 21.70
06-Jun-19 28-Jun-19 9.60
09-Jan-19 08-Feb-19 21.50
31-May-18 29-Jun-18 9.50
04-Jan-18 02-Feb-18 20.50
04-Jan-18 02-Feb-18 1.40
01-Jun-17 29-Jun-17 9.00
05-Jan-17 10-Feb-17 18.90
26-May-16 28-Jun-16 7.50
07-Jan-16 05-Feb-16 17.65
28-May-15 30-Jun-15 7.00
02-Jan-15 06-Feb-15 17.45

Portfolio

Top Holdings (As of 31/01/2020)
% of Fund
LafargeHolcim 7.76
Nestl 4.51
STMicroelectronics 3.77
UPM-Kymmene 3.49
SAP 3.33
Roche 3.28
ASML 3.27
Grifols 3.21
Novartis 2.80
Autoliv 2.72
View full holdings
Sector Allocation % OF FUND % OF FUND (As of 31/01/2020)
Industrials 22.51
Health Care 21.04
Consumer Goods 20.24
Technology 12.53
Basic Materials 9.56
Financials 4.56
Utilities 3.53
Telecommunications 2.54
Oil & Gas 2.50
Consumer Services 0.99

Documents

Document View
Henderson European Focus Trust plc - Annual Report 2019
Henderson European Focus Trust plc - Annual Report 2018
Henderson European Focus Trust plc - Annual Report 2017
Henderson European Focus Trust plc - Annual Report 2016
Henderson European Focus Trust plc - Annual Report 2015
Henderson European Focus Trust plc - Annual Report 2014
Henderson European Focus Trust plc - Annual Report 2013
Henderson European Focus Trust plc - Annual Report 2012
Henderson European Focus Trust plc - Annual Report 2011
Henderson European Focus Trust plc - Factsheet
Henderson European Focus Trust plc - Portfolio Disclosure
Henderson European Focus Trust plc - Half Year Report 2019
Henderson European Focus Trust plc - Half Year Report 2018
Henderson European Focus Trust plc - Half Year Report 2017
Henderson European Focus Trust plc - Half Year Report 2016
Henderson European Focus Trust plc - Half Year Report 2015
Henderson European Focus Trust plc - Half Year Report 2014
Henderson European Focus Trust plc - Half Year Report 2013
Henderson European Focus Trust plc - Half Year Report 2012
Henderson European Focus Trust plc - Half Year Update 2019
Henderson European Focus Trust plc - Investment Objective & Policy
Henderson European Focus Trust plc - Key Information Document
Henderson European Focus Trust plc - AIFMD Disclosure
Henderson European Focus Trust plc - Proxy Votes 2020
Henderson European Focus Trust plc - Proxy Votes 2019
Henderson European Focus Trust plc - Schedule of Matters Reserved for the Board
Henderson European Focus Trust plc - Strategic Report
Henderson European Focus Trust plc - Terms of Reference for the Nominations Committee
Henderson European Focus Trust plc - Terms of Reference of the Management Engagement Committee
Henderson European Focus Trust plc - Terms of Reference of the Audit Committee

Related Insights

Our intellectual capital is readily available and central to our Knowledge.Shared approach"
Related Insights
Henderson European Focus Trust AGM
February 2020

Henderson European Focus Trust AGM

Watch John Bennett, Fund Manager of Henderson European Focus Trust, present on how the Trust has performed over the last financial year and his outlook for the coming months.

Watch Now

European stocks deliver against negative narrative
January 2020

European stocks deliver against negative narrative

UK-based investors would have enjoyed a good decade had they ignored the negative commentary around European stock markets and bought some exposure to the continent, says John Bennett, Fund Manager of Henderson European Focus Trust.

5 min watch

Game on! Why investment trusts can challenge private equity
October 2019

Game on! Why investment trusts can challenge private equity

Investment trusts can go toe-to-toe with private equity firms, says John Bennett, Fund Manager of Henderson European Focus Trust, owing to their unique access to “permanent capital”. John also explains why European equities might be poised to rally.

Watch Now

  • ​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 is not a guide to future performance.
  • ​You should note that your tax treatment in relation to any investments held outside an ISA will depend on your individual circumstances and may be subject to change in the future. Governments may change the tax rules which affect you or the Funds in which you have invested.
  • ​If you invest through a third party provider you are advised to consult them directly as charges, performance and terms and conditions may differ materially.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • If a trust's portfolio is concentrated towards a particular country or geographical region, the investment carries greater risk than a portfolio diversified across more countries.
  • The trust may have a particularly concentrated portfolio (low number of holdings) relative to its investment universe and an adverse event impacting only a small number of holdings can create significant volatility or losses for the trust.
  • Where the trust invests in assets which are denominated in currencies other than the base currency then currency exchange rate movements may cause the value of investments to fall as well as rise.
  • This trust is suitable to be used as one component in several in a diversified investment portfolio. Investors should consider carefully the proportion of their portfolio invested into this trust.
  • Active management techniques that have worked well in normal market conditions could prove ineffective or detrimental at other times.
  • The trust could lose money if a counterparty with which it trades becomes unwilling or unable to meet its obligations to the trust.
  • Shares 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.
  • The return on your investment is directly related to the prevailing market price of the trust’s shares, which will trade at a varying discount (or premium) relative to the value of the underlying assets of the trust. As a result losses (or gains) may be higher or lower than those of the trust’s assets.
  • The trust may use gearing as part of its investment strategy. If the trust utilises its ability to gear, the profits and losses incured by the trust can be greater than those of a trust that does not use gearing.
  • 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. View the portfolio transaction costs across the Henderson UK Fund range.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved, you may wish to consult a financial adviser.

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