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We remain cautiously optimistic
Ben Lofthouse, Portfolio Manager of Henderson International Income Trust, discusses the Trust’s performance over the quarter, highlighting key contributors to performance, portfolio positioning, and dividend trends playing out in the markets.
7 Oct 2022
Key takeaways:
- Dividend trends have exceeded expectations so far this year, driven by a stronger-than-expected recovery in profits and margins. Though dividends have risen across the board, the biggest increases have come from the energy and financial companies.
- Despite the market volatility, HINT has held up relatively well, driven by energy holdings which have benefitted from higher oil and gas prices. Holdings within defensive sectors such as consumer staples, telecommunications, and pharmaceuticals also contributed positively.
- The economic outlook has worsened since the beginning of the year. However, we think that dividend paying stocks with low valuations relative to the market, strong cash flows and conservative balance sheets should be well placed to weather this environment.
Janus Henderson Podcast
Janus Henderson Podcast
Related insights
7 Oct 2022
Key takeaways:
- Dividend trends have exceeded expectations so far this year, driven by a stronger-than-expected recovery in profits and margins. Though dividends have risen across the board, the biggest increases have come from the energy and financial companies.
- Despite the market volatility, HINT has held up relatively well, driven by energy holdings which have benefitted from higher oil and gas prices. Holdings within defensive sectors such as consumer staples, telecommunications, and pharmaceuticals also contributed positively.
- The economic outlook has worsened since the beginning of the year. However, we think that dividend paying stocks with low valuations relative to the market, strong cash flows and conservative balance sheets should be well placed to weather this environment.