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New Henderson Global trust manager slashes UK exposure

by Eleanor Lawrie on Feb 07, 2014 at 10:46

While Volckaert said he shares O’Neill’s conservative approach, he has discussed using ‘strategic’ gearing of up to 10% with the board, although he thinks this is not the right time in the market cycle to use this facility.  

The trust is currently trading on a 10.3% discount to net asset value (NAV) at 346 pence. Over the past 12 months the trust has posted a 2.3% share price loss and a 4.28% NAV return. This compares to a 9.27% rise by the FTSE World index.

Over the past three years the trust has posted an 8% share price return and a 15.1% NAV return versus a 23.9% rise by the FTSE World index.

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