Henderson Alternative Strat Tst PLC Edison review on Henderson Alternative Strat Trst

TIDMHAST

Henderson Alternative Strat Tst PLC

09 March 2016

London, UK, 9 March 2016

Edison issues research review on Henderson Alternative Strategies Trust

Henderson Alternative Strategies Trust (HAST, formerly Henderson Value Trust) has been reconstructed into a portfolio of specialist and alternative funds. The managers have focused on private equity, hedge funds, property and specialist sector and geographical funds that individual investors are unable or unlikely to access. The aim is to achieve returns in excess of those from global equities on a three-year view, but with limited correlation to equity markets. The reconstruction is beginning to show through in performance, and over 12 months the trust has outperformed its informal composite benchmark and the FTSE All-Share. The discount remains wide at c 19%, reflecting a difficult history and a climate of investor risk aversion, but has scope to narrow should the performance upturn be sustained.

At 7 March HAST's shares traded at an 18.6% discount to cum-income NAV. While wide, this is in line with the one-year average of 19.7%. Under Henderson the discount has averaged 17.2%. The board manages the discount principally through tender offers, the next of which is likely to be at the start of 2017. The current level of discount may reflect increased investor risk aversion towards non-mainstream assets, as well as HAST's lacklustre performance history during the reconstruction, meaning there is scope for it to narrow as improvements bed in.

Click here to view the full report

All reports published by Edison are available to download free of charge from its website: www.edisoninvestmentresearch.com

About Edison: We are an international equity advisory firm. We enable our client companies to achieve their capital market objectives. The team is made up of more than 80 analysts and investment professionals with many decades of experience. Our extensive company knowledge and industry expertise spans 10 business sectors and more than 700 listed companies globally. We give our corporate clients and investors privileged insight into global investment trends. Our distribution capability is key to ensuring that a global investor audience can access our investment knowledge. Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

Contact details: Learn more at www.edisongroup.com and connect with Edison on:

 
 LinkedIn   www.linkedin.com/company/edison-investment-research 
---------  ---------------------------------------------------- 
 Twitter    www.twitter.com/Edison_Inv_Res 
---------  ---------------------------------------------------- 
 YouTube    www.youtube.com/edisonitv 
---------  ---------------------------------------------------- 
 Google+    https://plus.google.com/105425025202328783163/posts 
---------  ---------------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

NRAUGURCWUPQUBB

(END) Dow Jones Newswires

March 09, 2016 04:52 ET (09:52 GMT)