Henderson International Income Trust - International (ex UK) Income and Growth
LONDON, March 25, 2011 /PRNewswire/ --
- Edison Investment Research pre-IPO Report
Henderson International Income Trust plc (HINT) is a new UK registered investment trust targeting both a high and growing income as well as long-term capital growth, through investment in a diversified portfolio of international (ex UK) securities, primarily listed equities with optional fixed interest capability. The trust aims to pay quarterly dividends and targets a prospective yield at inception no less than 4.0% and income growth of 5-10% per annum. The ex UK mandate gives clarity to investors who wish to diversify their investments in equity income away from the highly concentrated UK market without risk of unwanted duplication of securities holdings. The manager also expects international dividend growth to outpace UK dividend growth.
Please click here to view the full report:
http://bit.ly/Edison-HINT
The trust's ordinary shares are being issued at GBP1.00 with subscription shares attached on a one for five basis. With issuance costs capped at 2%, HINT will begin trading with a minimum underlying NAV of 98p and, as such, shares are being issued at a maximum 2.0% premium to opening NAV. The trust does not have a fixed-life term but the board is committed to putting continuation to a tri-annual shareholder vote. It may also use buybacks to manage any discount. In the current interest rate environment a strong yield should bolster the rating of the shares, which should be attractive to investors seeking a high level of income combined with the prospect of capital growth.
Edison is Europe's leading investment research company. It has won industry recognition, with awards in both the UK and internationally. The team of more than 65 includes over 35 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 280 companies across every sector and works directly with corporates, investment banks, brokers and fund managers. Edison's research is read by major institutional investors in the UK and abroad, as well as by the private client broker and international investor communities. Edison was founded in 2003 and is authorised and regulated by the Financial Services Authority (http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584).
Contact details: enquiries@edisoninvestmentresearch.co.uk or +44(0)20-3077-5700
Share this article