London, UK, 18 July 2023
Edison issues update on Henderson International Income Trust (HINT)
Henderson International Income Trust (HINT) offers a diversified investment solution for those seeking capital growth and income opportunities outside the UK, where dividend income is relatively concentrated. Recent relative performance has improved, as underweights to the US and to IT and other growth stocks, which have previously hurt performance, are now boosting relative returns and should leave HINT well placed to cope with the persistently uncertain global environment. Overweights to European financials, energy and luxury goods producers have also been working well. HINT has a long-term objective to grow its dividend. Consistent with this, dividends have grown steadily since inception, and HINT's dividend yield of 4.3% is competitive, ranking equal highest among its AIC peers.
HINT appears attractively valued by historical measures, as its discount is wider than the long-term average, offering investors a potentially attractive entry level. There is scope for the discount to narrow towards its long-term average, supported by HINT's performance track record and competitive dividend policy.
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