LONDON (Alliance News) - Henderson High Income Trust PLC Tuesday said its net asset value increased by 24% in 2013, and said its net asset total return far outstripped its benchmark, benefiting from the outperformance of both equities and bonds, combined with the positive contribution of gearing.
For the year ended December 31 2013, the trust reported a net asset total return of 30.7%, far outstripping the 16.8% total return of its benchmark, the FTSE Small-Cap Index.
It reported a net asset value per share of 169.72 pence, a 24% increase on the 137.32 pence reported a year earlier.
The income return over the year rose 8.1% to 9.12p per share, compared with 8.44 pence in 2012.
"The majority of months saw positive returns with the occasional setback on fears over central banks' early taper of their respective quantitative easing programmes, ironically due to the robust economic growth," the trust said in a statement.
At the year end, the gearing was 22.8%, higher than it had been at the same point the year before.
"In the current year we expect to continue to utilise gearing to enhance both income and capital growth when we feel opportunities exist in investment markets," the trust said.
Shares in Henderson High Income Trust were trading 0.1% or 0.25 pence lower Tuesday afternoon, at 176.75 pence per share.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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Henderson High Income Trust (HHI)