For individual investors in the UK

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
GB00BLSNGB01

Share price
131.50p
As of 28/09/2022

Estimated NAV
151.10p
As of 28/09/2022

Discount / Premium
-12.97%
As of 28/09/2022

Yield
2.54%
As of 27/09/2022

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Overview

Company update

On 27 January 2022, shareholders of Henderson European Focus Trust plc (the ‘Company’) approved a sub-division of the ordinary shares at the Company’s Annual General Meeting. The sub-division became effective on Monday, 7 February 2022 (the ‘Effective Date’). This means that each ordinary share of 50 pence in the capital of the Company (‘Previous Ordinary Shares’) has now been sub-divided into ten new ordinary shares of 5 pence each (‘New Ordinary Shares’). Although each ordinary shareholder now holds ten times as many New Ordinary Shares than before, each shareholder's proportionate interest in the ordinary share capital of the Company remains unchanged. The New Ordinary Shares have the same rights to participate in dividends or income of the Company and the same rights on liquidation of the Company as holders of Previous Ordinary Shares. Each New Ordinary Share carries the right to one vote on a poll.

Please see the Annual Report or watch the Understanding Share Splits video for further information. For more information, see the Annual Report read the FAQs or watch the Understanding share splits video.

INVESTMENT OBJECTIVE

The Company seeks to maximise total return (a combination of income and capital growth) from a portfolio of stocks listed in 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
  • View Henderson European Focus Trust ESG approach here
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Past performance does not predict future returns. 
 

LATEST INSIGHTS

Knowledge Shared

At Janus Henderson, we believe in the sharing of expert insight for better investment and business decisions. We call this ethos Knowledge Shared.

View more Henderson European Focus Trust insights

ANNOUNCEMENTS

View the latest announcements for this Trust:

London Stock Exchange

FREQUENTLY ASKED QUESTIONS

Source: Morningstar. Ratings updated quarterly.

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 does not predict future returns.
Discrete Performance (%)
As of 30/06/2022
Net Asset Value Price
 
Quarter End
As of 30/06/2022 		2021/2022 2020/2021 2019/2020 2018/2019 2017/2018
Net Asset Value -10.72 28.04 3.44 5.06 1.40
Price -16.61 34.58 0.82 6.63 -11.57
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
© Morningstar 2022. All rights reserved. The Price and Net Asset Value total returns.
Cumulative Performance (%)
As of 31/08/2022
NAV (Net) Price (Net)
 
As of 31/08/2022 1MO 3MO YTD 1YR 3YR 5YR 10YR
NAV (Net) -0.86 -4.44 -10.46 -9.43 21.51 27.22 196.66
Price (Net) 1.10 -3.37 -13.56 -13.56 19.91 10.27 212.09
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
© Morningstar 2022. All rights reserved. The Price and Net Asset Value total returns.
DIVIDENDS
Ex Dividend Date Pay Date Amount div p/ps
01-Jun-22 27-Jun-22 1.20
06-Jan-22 04-Feb-22 2.35
03-Jun-21 25-Jun-21 0.96
07-Jan-21 05-Feb-21 2.17
04-Jun-20 26-Jun-20 0.96
09-Jan-20 07-Feb-20 2.17
06-Jun-19 28-Jun-19 0.96
09-Jan-19 08-Feb-19 2.15
31-May-18 29-Jun-18 0.95
04-Jan-18 02-Feb-18 2.19
01-Jun-17 29-Jun-17 0.90
05-Jan-17 10-Feb-17 1.89

Portfolio

Top Holdings (As of 31/08/2022)
% of Fund
Shell 6.39
Aker BP 4.57
Novo Nordisk 4.43
Holcim 3.96
UPM-Kymmene 3.87
ASR Nederland 3.80
Nestlé 3.70
TotalEnergies 3.67
LVMH Moet Hennessy Louis Vuitton 3.58
BP 3.28
View full holdings
References made to individual securities should not constitute or form part of any offer or solicitation to issue, sell, subscribe or purchase. Holdings are subject to change without notice.
Sector Allocation % OF FUND % OF FUND (As of 31/08/2022)
Country/Geographic Exposures % OF FUND % OF FUND (As of August 31, 2022)

Documents

Document View
Henderson European Focus Trust plc - ESG Report
Henderson European Focus Trust plc - European Equities: ESG approach
Henderson European Focus Trust plc - Annual Report 2021
Henderson European Focus Trust plc - Interactive Annual Report 2021
Henderson European Focus Trust plc - Annual Report 2020
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 - July 2022 Commentary
Henderson European Focus Trust plc - Factsheet
Henderson European Focus Trust plc - Portfolio Disclosure
Henderson European Focus Trust plc - Half Year Report 2022
Henderson European Focus Trust plc - Half Year Report 2021
Henderson European Focus Trust plc - Half Year Report 2020
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 Update 2022
Henderson European Focus Trust plc - Notice of Meeting 2021
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 - Poll Results 2022
Henderson European Focus Trust plc - Poll Results 2021
Henderson European Focus Trust plc - Share Split FAQs
Henderson European Focus Trust plc - Notice of Meeting 2022
Henderson European Focus Trust plc - Schedule of Matters Reserved for the Board
Henderson European Focus Trust plc - Terms of Reference for the Nominations Committee
Henderson European Focus Trust plc - Terms of Reference of the Audit & Risk Committee
Henderson European Focus Trust plc - Terms of Reference of the Management Engagement Committee

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Henderson European Focus Trust Fund Manager Commentary – August 2022
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  • ​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.
  • 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.
  • The Company confirms that it currently conducts its affairs so that its ordinary shares of 50p each can be recommended by IFAs to ordinary retail investors in accordance with the Financial Conduct Authority’s (FCA) rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future.
  • The shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are shares in an investment trust.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report. Please refer to the AIFMD Disclosure document and Annual Report of the AIF before making any final investment decisions.
  • The Company underwent a 10 for 1 stock split on 7 February 2022; comparative NAV, share price and dividend figures have, where possible, been adjusted to reflect this, but historic dividends and earnings per share up to 7 February 2022 may reflect the previous position, unless otherwise stated.