Henderson High Income Trust Share Price (HHI)

This 10% discount to NAV is now permanent it seems.

More good news from today:

https://quoteddata.com/2024/03/newly-enlarged-henderson-high-income-beats-benchmark-2023/

Henderson High Income says its NAV total return for 2023 was +9.8% compared with the benchmark return of +8.1%, an outperformance of +1.7%. Unfortunately, the emergence of a discount meant that the share price total return was +0.9%, with the share price ending the year at a discount to NAV of 7.7% having started 2023 at a small premium of +0.6%.

The dividend increased from 10.15p to 10.35p and this was covered by earnings of 10.39p.

continues...

HHI listed as one of "Six great funds for your ISA" in this week's magazine. It's behind a paywall so can't share a link but includes the following: "...what makes the trust stand out from the peer group is the bond exposure, managed by the parent asset manager’s bond specialists. This provides more resilience and diversification to its income stream."

Yep that's true, still difficult to fathom though isn't it? I currently hold HHI as well as HDIV so when HDIV converts I'll have too much in HHI so I've sold some down before the conversion. Maybe others are in the same boat?

Hi Krustysmegma (haha)

That's a very reasonable explanation. The market caps are £186m (HHI) and £120m but the yields are not far apart.

Once any last div is paid, I'm not sure how it affects the joining of the two though, as discount to NAV for HDIV is currently marginal and would track down to the amount of any last divi.

If HDIV is simply added to HHI afterwards, then the new discount to NAV would be less than 10% but still significant.