JANUS HENDERSON FUND MANAGEMENT UK LIMITED
7 October 2024
| Trust Name | HENDERSON EUROPEAN TRUST PLC
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| Legal Entity Identifier
| 213800GS89AL1DK3IN50 |
| NAV Details | As at close of business on 4 October 2024, the unaudited net asset value per ordinary share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 200.8p.
As at close of business on 4 October 2024, the unaudited net asset value per ordinary share (excluding current financial year revenue items and shares held in treasury) was 199.5p.
The Company's loan notes are valued at par.
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| For further information, please call: | Wendy King Janus Henderson Investors Telephone: 020 7818 1818
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| Trust Name | LOWLAND INVESTMENT COMPANY PLC
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| Legal Entity Identifier
| 2138008RHG5363FEHV19 |
| NAV Details | As at close of business on 4 October 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 142.0p and the net asset value per share with debt marked at fair value was 143.9p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value.
As at close of business on 4 October 2024, the unaudited net asset value per share (excluding current financial year revenue items) was 140.3p and the net asset value per share with debt marked at fair value was 142.2p.
Debt marked at fair value is the Company's estimate of the "fair value" of its senior unsecured notes. The current estimated fair value of the Company's senior unsecured notes is based on a discount rate calculated using the redemption yield of the relevant existing UK Gilt plus a credit spread. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs.
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| For further information, please call: | Wendy King Janus Henderson Investors Telephone: 020 7818 1818
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| Trust Name
| THE NORTH AMERICAN INCOME TRUST PLC
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| Legal Entity Identifier
| 5493007GCUW7G2BKY360 |
| NAV Details
| As at close of business on 4 October 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 357.9p and the net asset value per share with debt marked at fair value as 359.4p.
As at close of business on 4 October 2024, the unaudited net asset value per share (excluding current financial year revenue items) was 351.9p and the net asset value per share with debt marked at fair value was 353.3p.
Debt marked at fair value is the Company's estimate of the "fair value" of its senior unsecured notes. The current estimated fair value of the Company's senior unsecured notes is based on a discount rate calculated using the redemption yield of the relevant US Treasury. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs.
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| For further information, please call | Wendy King Janus Henderson Investors Telephone: 020 7818 1818
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| Trust Name | THE BANKERS INVESTMENT TRUST PLC
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| Legal Entity Identifier
| 213800B9YWXL3X1VMZ69 |
| NAV Details | As at close of business on 4 October 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 125.9p and the net asset value per share with debt marked at fair value was 128.4p.
As at close of business on 4 October 2024, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 124.6p and the net asset value per share with debt marked at fair value was 127.1p.
The current estimated fair value of the Company's GBP denominated unsecured loan notes is based on a discount rate calculated using the yield of a UK Gilt of a similar maturity plus a credit spread. The current estimated fair value of the Company's Euro denominated unsecured loan notes is based on a discount rate calculated using the yield of a Euro Swap of similar maturity plus a credit spread.
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| For further information, please call: | Wendy King Janus Henderson Investors Telephone: 020 7818 1818
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| Trust Name | HENDERSON INTERNATIONAL INCOME TRUST PLC
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| Legal Entity Identifier
| 2138006N35XWGK2YUK38 |
| NAV Details | As at close of business on 4 October 2024, the unaudited net asset value per ordinary share calculated in accordance with the AIC formula (including current financial year revenue items) was 187.0p and the net asset value per share with debt marked at fair value was 189.0p.
As at the close of business on 4 October 2024, the unaudited net asset value per ordinary share (excluding current financial year revenue items) was 185.5p and the net asset value per share with debt marked at fair value was 187.6p.
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| For further information, please call:
| Wendy King Janus Henderson Investors Telephone: 020 7818 1818
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| Trust Name | HENDERSON OPPORTUNITIES TRUST PLC
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| Legal Entity Identifier
| 2138005D884NPGHFQS77 |
| NAV Details | As at close of business on 4 October 2024, the unaudited net asset value per ordinary share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 238.5p.
As at close of business on 4 October 2024, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 235.9p.
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| For further information, please call: | Wendy King Janus Henderson Investors Telephone: 020 7818 1818
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| Trust Name | HENDERSON HIGH INCOME TRUST PLC
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| Legal Entity Identifier
| 213800OEXAGFSF7Y6G11 |
| NAV Details | As at close of business on 4 October 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 179.2p and the net asset value per share with debt marked at fair value was 180.4p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value.
As at close of business on 4 October 2024, the unaudited net asset value per share (excluding current financial year revenue items) was 178.6p and the net asset value per share with debt marked at fair value was 179.7p.
Debt marked at fair value is the Company's estimate of the "fair value" of its senior unsecured notes. The current estimated fair value of the Company's senior unsecured notes is based on a discount rate calculated using the redemption yield of the relevant existing UK Gilt plus a credit spread determined by the month-end difference in redemption yields between the ICE BofAML 5-10 Year A Sterling Non-Gilt Index and the ICE BofAML 5-10 Year UK Gilt Index. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs.
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| For further information, please call: | Wendy King Janus Henderson Investors Telephone: 020 7818 1818
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| Trust Name | THE CITY OF LONDON INVESTMENT TRUST PLC
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| Legal Entity Identifier
| 213800F3NOTF47H6AO55 |
| NAV Details | As at close of business on 4 October 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 434.4p and the net asset value per share with debt marked at fair value was 439.3p.
As at close of business on 4 October 2024, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 429.1p and the net asset value per share with debt marked at fair value was 434.0p.
Debt marked at fair value is the Company's estimate of the "fair value" of its senior secured notes. The current estimated fair value of the Company's senior secured notes is based on a discount rate calculated using the redemption yield of the relevant existing UK Gilt plus a credit spread determined by the month-end difference in redemption yields between the ICE BofAML 5-10 Year A Sterling Non-Gilt Index and the ICE BofAML 5-10 Year UK Gilt Index for the 4.53% senior secured 2029 notes, and the spread between the redemption yield of the ICE BofAML 15+ Year A Sterling Non-Gilt Index and the ICE BofAML 15+ Year UK Gilt Index for the 2.67% senior secured 2046 notes and the 2.94% senior secured 2049 notes. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs. In addition, evidence of issues in the private placement market may be taken into consideration where spreads significantly diverge from those in the public market.
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| For further information, please call: | Wendy King Janus Henderson Investors Telephone: 020 7818 1818
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| Trust Name | THE EUROPEAN SMALLER COMPANIES TRUST PLC
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| Legal Entity Identifier
| 213800N1B1HCQG2W4V90 |
| NAV Details | As at close of business on 4 October 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 198.7p.
As at close of business on 4 October 2024, the unaudited net asset value per share (excluding current financial year revenue items) was 193.9p.
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| For further information, please call: | Wendy King Janus Henderson Investors Telephone: 020 7818 1818
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| Trust Name
| THE HENDERSON SMALLER COMPANIES INVESTMENT TRUST PLC
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| Legal Entity Identifier
| 213800NE2NCQ67M2M998
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| NAV Details
| As at close of business on 4 October 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 981.4p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value.
As at close of business on 4 October 2024, the unaudited net asset value per share (excluding current financial year revenue items) was 971.5p.
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| For further information, please call: | Wendy King Janus Henderson Investors Telephone: 020 7818 1818
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