Henderson Far East Income Share Discussion Threads

[cashflow101] 24/10/2003 11:41

As you say,maybe HFE is starting to look "interesting" now,though ofcourse,it could be even more cheaper in a few weeks................?

Re next years ISA allowance,don't forget,as of April 2004,you won't get the tax credit back anymore,not unless G Brown changes course...........hullo,whats that noise,oh it a group of low flying (supersonic) pigs !!!!!!!!

[ajrice] 23/10/2003 14:45

For the first time in a long time HFE's nav is more or less at a par with it's share price making this, in my opinion, a very good time to buy/top up.
I just wish it was April '04, in which case I could add to my HFE ISA.
Best wishes to all HFE holders.
aj.

[ajrice] 29/9/2003 13:12

>>>>spincity: it could very well be but I'm not yet convinced; prefer to stick with H.F.E. with it's minimal exposure to Japan for the time being. Good luck.
aj.

[spincity] 26/9/2003 08:37

aj

still a follower of HFE (and also SST - another standout in asian smaller co's). I have taken a view on Japanese smaller co's also, with the sell off in the Nikkei (itself caused by yen appreciation agains $US) dragging down some of the better run Japanese companies unjustly. I have picked up a holding in IJD, one of invesco's trusts, which has a strong correlation with TOPIX (the broader of the Japanese indecies). Is this the time to be picking up smaller Japanese companies not exposed to the global currency concerns which are marking the rest of the marked down?

[spincity] 26/9/2003 08:36

aj

still a follower of HFE (and also SST - another standout in asian smaller co's). I have taken a view on Japanese smaller co's also, with the sell off in the Nikkei (itself caused by yen appreciation agains $US) dragging down some of the better run Japanese companies unjustly. I have picked up a holding in IJD, one of invesco's trusts, which has a strong correlation with TOPIX (the broader of the Japanese indecies). Is this the time to be picking up smaller Japanese companies not exposed to the global currency concerns which are marking the rest of the marked down?

[ajrice] 26/8/2003 17:18

Despite it's phenominal growth, HFE's premium to NAV has today narrowed to 3.3%.
Terrific value in my opinion. However, as always please do your own research.
I am a long term holder.
aj.

[ajrice] 04/8/2003 10:42

Update on HFE's performance relative to it's peers (Far East exc. Japan sector); figures taken from Personal Finance magazine - August 2003; performance to 7th July '03, mid market basis with net income reinvested:-

Result of investing £100 over:
a) 10 years: £190.38 Position 1st out of 6.
b) 5 years: £232.08 " " 3rd out of 12.
c) 3 years: £168.20 " " 2nd out of 12.
d) 1 year : £116.23 " " 1st out of 13.
Best wishes,
aj.

[jj22] 31/7/2003 07:45

Have a quick look at this
Got it yesterday



It's an american company that pays uk computer users just for opening short advertising e-mails sent to them

[spincity] 31/7/2003 07:25

aj,

completely agree. I have been a holder for some time, and find it a useful proxy for mostly australian / tiger economy growth.

OCR interest rates in Australia are at 5%, so income assets held in this market tend to be excellent, cash generative sound businesses rather than distressed financial institutions and moribund utilities as in the UK. By its very nature an income vehicle in these times of structural deflationary pressures and us-to-asia outsourcing is well placed for a modest capital gain and a sound cashflow. a better overall total return than most of its UK "slavish index tracker" peers. I note that the firm has an exceedingly small exposure to the dire economic situation in Japan, with a small holding in only one japanese equity in the fund.

Also worth bearing in mind is the positive currency effect being felt at the moment. Serling is rapidly devaluing against the AU$ and NZ$ as the interest yield differential becomes wider. Holding AU$ assets provides a sound hedge against sterling weakness.

I did a batch of research into this sector recently and came across some other funds you might want to look at:

SST.L - Scottish Oriental Smaller Companies
AAS.L - Aberdeen Smaller Co's
AND.L - Aberdeen New Dawn

All these firms have benefitted from the post SARs re-rating and the general rebound in markets from the march lows.

[ajrice] 16/7/2003 15:47

I know we're all a rather quiet, conservative bunch on this bb., but since the above post about 7 weeks ago, HFE's price has risen by a whopping 18% and a quarterly dividend has also just been paid. I think this deserves a small mention. The price is at a conservative 8.2% premium to NAV so the fundamentals are also very strong.
In my view, the Australasian & S.E. Asian markets still have so much more to offer in the future and Henderson have shown themselves to be leaders in these markets.
I hold HFE for the medium - long term; please as always do your own research.
Best wishes,
aj.

[ajrice] 29/5/2003 09:31

>>>JIMCAR: Interesting. A massive 22% discount to NAV! If that ever happened again HFE would represent a fantastic buying opportunity, as it indeed did then. Looking back at my records, taken at 6 month intervals:-
HFE price 6th July '01 - 122.5p
" " 4th January '02 - 136.25p.(A 24% increase over 12 months!)
" " 5th July '02 - 146.0p
" " 3rd January '03 - 136.5p
" " Today - 147.0p.(A more realistic value versus NAV imho)
Best wishes to all HFE holders,
aj.

[jimcar] 28/5/2003 17:52

ajrice

Came across an old copy of the FT the other day, date 7 Jan 2001. Looked up HFE. The price was 110 and the NAV 134. Lets hope income trusts stay in fashion.

[ajrice] 28/5/2003 14:44

HFE goes from strength to strength and so does it's NAV which is 140.3p thus the mid market price today (147p.) represents only a 4.8% premium to NAV; still a good buy imho.
Personal Finance (June '03) details following data for I.T.'s in Far East exc. Japan - figures to 30/04/03 - Over past 10 years 1st out of 6.
Over past 5 years 3rd out of 12
Over past 3 years 1st out of 12
Over past 1 year 2nd out of 13
Please dyor; I hold for the long term.

[cashflow101] 24/4/2003 16:18

Hello Tony, I agree mostly with what you said, however,I see in recent days, Volume in HFE has been higher than MRCH,normally the other way around I think,which may indicate heavy selling ??

Anyway,last week,decided to take some profits in HF, selling half and have now shifted these funds into more Mrch.

Ofcourse,IF Sars turns very bad,then we are all going to be in trouble,both share price wise and every other way.So lets keep every thing crossed !!

Good luck, Mike.

[ajrice] 24/4/2003 14:19

HFE's premium over NAV has now narrowed to just 2.3%. A good buying opportunity although some will argue that, due to SARS, it is just possible that a discount to NAV may occur in the near future. Long term, however, HFE justifies a significant, i.e. double figure, premium to NAV.
As always, my opinion; please do your own research.

[ajrice] 23/4/2003 08:59

HFE suffered yesterday for no other reason apart from the SARS outbreak. Infact the premium over NAV has now narrowed considerably suggesting that the component parts of HFE continue to flourish. Possibly a good opportunity to top up?
I do not mean in any way to exploit the very sad SARS victims but unfortunately there has been an over reaction by the market to this epidemic and HFE is undoubtedly one of the casualties. It's underlying strength, however, will in my opinion provide a solid base for future growth.
I hold HFE for the long term.

[cashflow101] 06/4/2003 17:02

Yup, got the divvie couple of days back,meanwhile my other "big"holding as mentioned above, MRCH, I took profits on shortly after that post,made nearly 10% in one week and have since bought back in again and it still hasn't gone ex div yet,which was the main reason for buying in the first place!

Ofcourse,something 'orrible might still happen "outthere",which will cause it to drop sharply,but I'm fairly happy to hold now for its 6%+ yield (ditto HFE),damm sight better than 3% or whatever in a building soc........

[ajrice] 04/4/2003 08:47

Solid growth continues this week. Since last Friday, price has moved up by 2.4% and the regular quarterly divi will be with us in a week's time.

[cashflow101] 21/3/2003 11:14

Yup, the stock done well,as they might say in the States.........However,what used to be my biggest holding (HFE was for a few weeks)is now again (topped up just a couple weeks back). Viz MRCH,been going almost ballistic,think part of the reason is narrowing of discount.

Isn't it super when you get it right (not that I do very often !!).Anyway,MRCH,just like HFE, "chunky divie" run by a bloke who seems to have his head screwed on right,just like bloke who runs HFE.

Mind you I'm not saying buy more MRCH now,it might now be due for a dip.....................goodluck to all.........Mike.

[ajrice] 20/3/2003 17:21

The title to this BB continues to become more and more appropriate.
LOL to all HFE holders; I hold for the long term.

[cashflow101] 06/3/2003 00:06

I noticed today HFE was off a couple of pence,to be expected really,given world markets,including the Far East, THEN I noticed,its Ex D,so well done HFE !!

Don't know,if any of you folks noticed,but dear old Ceefax on BBC, U S E D,to mark ex div stocks with a star ,can't spell asterisk ;-), they don't bother now. Early this am ,I noticed BAT was off 20 odd p, I guessed it was ex,but had to come on here to check,then I realised so was HFE too.

Regards, Mike. ......... PS , Pottsypotts,just type in the epic,in this case HFE,in the little box at the top of the page and you can find,with a lttle digging all the info you need !

[ajrice] 05/3/2003 14:17

>>>>Mike ~ thanks for that; I hadn't realised HFE was now ex divi. Not a big drop considering.

[ajrice] 05/3/2003 09:35

>>>>JimCar - thanks for your post 11.
Typically, I think you will agree, i.t.'s with large discounts to NAV are, by definition, not favoured by the city institutions for whatever reason. I think your stategy, therefore, has a higher risk attached to it. However, I'm sure that your choices will be based on as much knowledge as you can glean and you may well come up with a winner or two.
In answer to your second point, no I haven't been looking closely at UK quoted shares with large pacific exposure although Standard Chartered has always appealed to me as a well run company and at such a low (relatively) price does seem tempting in my opinion. However, I have no shares in the latter.