LONDON (Alliance News) - Henderson Alternative Strategies Trust PLC Thursday said in underperformed its benchmark, the FTSE World Total Return Index, in the half year to end-March.
The trust saw a negative total return on net asset value of 2.3% in the half year, compared to a total return of 11.5% from the FTSE World Total Return Index.
Henderson Alternative Strategies said that the extent of its underperformance is "unsatisfactory". However, having undertaken a restructuring of the trust's portfolio, it said there are "grounds for optimism" over the coming months, with multiple growth opportunities.
"Whilst the board remains confident that the company's restructured portfolio now has the potential to generate attractive long-term returns, it continues to regard improved near-term investment performance as the company's key priority during the second half of the financial year," Chairman Richard Gubbins said in a statement.
Although the company said it has made "significant progress" towards creating an improved portfolio, it is "fully aware" of the importance of engaging with shareholders on its future direction in an improved investment performance "continues to be elusive during 2016". As such it will "continue to keep under consideration other potential means of enhancing shareholder value, including additional discount control mechanisms."
Shares in Henderson Alternative Strategies Trust were down 0.8% at 219.00 pence Thursday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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