Henderson Diversified Income Trust net asset value underperforms

(Alliance News) - Henderson Diversified Income Trust PLC on Tuesday reported said its net asset value fell and NAV total return underperformed.

The London-based fixed income-focused fund said NAV at April 30 was 71.88 pence per share, down 9.6% from 79.55p per share a year prior. NAV total return was negative 4.0%, falling below its benchmark of negative 0.3%.

This was partly due to an overweight position in sterling financial bonds, which were "badly impacted" by former UK prime minister Liz Truss's mini budget last year, Henderson explained.

Pretax loss narrowed to GBP6.5 million from GBP15.1 million the year before.

Henderson Diversified Income Trust declared a final dividend of 4.40p per share, unchanged from 2022.

Looking ahead, the trust said it will continue to stick to a "sensible income credit selection strategy" as volatility continues.

Shares in Henderson were down 1.6% at 63.10 pence each in London on Tuesday morning.

By Sabrina Penty, Alliance News reporter

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