Subscribe
Sign up for timely perspectives delivered to your inbox.
Henderson EuroTrust plc: Half-Year Results
Portfolio Manager, Jamie Ross and Chairman Nicola Ralston discuss the half-year results for Henderson EuroTrust, including the key drivers of performance, changes made to the portfolio and the outlook for European equities over the coming months.
24 Mar 2023
12 minute watch
12 minute watch
Key takeaways:
- The Company’s NAV total return was up 12.5% outperforming both its benchmark and its peer group which returned 11.1% and 9.0%, respectively. The Board is also pleased to declare an interim dividend of 0.8p per ordinary share.
- Our success was mainly due to the strengths of individual stocks, particularly within financials, cyclical areas of the market or energy-related names. This included names such as UniCredit, Hermes and TotalEnergies.
- We are hopeful that this isn’t a transient period of strong performance for European equities, but instead is reflective of a more resilient economic outlook than feared by some, and a positive reappraisal of the quality of a range of European companies, some of which look best-in-class to us compared to global peers.
Past performance does not predict future returns
Definitions
Net asset value (NAV)
The total value of a fund’s assets less its liabilities.
Cyclical
Companies that sell discretionary consumer items, such as cars, or industries highly sensitive to changes in the economy, such as miners. The prices of equities and bonds issued by cyclical companies tend to be strongly affected by ups and downs in the overall economy, when compared to non-cyclical companies.
Related insights
24 Mar 2023
12 minute watch
12 minute watch
Key takeaways:
- The Company’s NAV total return was up 12.5% outperforming both its benchmark and its peer group which returned 11.1% and 9.0%, respectively. The Board is also pleased to declare an interim dividend of 0.8p per ordinary share.
- Our success was mainly due to the strengths of individual stocks, particularly within financials, cyclical areas of the market or energy-related names. This included names such as UniCredit, Hermes and TotalEnergies.
- We are hopeful that this isn’t a transient period of strong performance for European equities, but instead is reflective of a more resilient economic outlook than feared by some, and a positive reappraisal of the quality of a range of European companies, some of which look best-in-class to us compared to global peers.