Henderson Far East Income Share Discussion Threads

[sll] 20/11/2023 18:19

HFEL Sector exposure at 30 Sep 2023 (compared to Aug’22 & Aug’21 AR’s) % of portfolio excluding cash
D R A F T 2023 2022 2021
% % %
------------------------ ---- ------ ------
Financials 28.0 25.8 27.6
Consumer Discretionary 14.0 5.9 6.0
Technology 12.0 9.7 17.8
Telecommunications 10.6 19.9 13.7
Real Estate 10.4 8.6 10.6
Basic Materials 8.9 15.6 12.5
Energy 7.0 9.6 4.5
Industrials 4.8 3.7 7.3
Utilities 4.3 1.2 -
(nb ‘roundingsR17;) 100.0 100.0 100.0

Geographic exposure at 30 Sep 2023 (compared to Aug’22 & Aug’21 AR’s) % of portfolio excluding cash
D R A F T 2023 2022 2021
% % %
-------------------------------------------------------
China 20.5 17.1 15.4
Australia 17.0 24.3 21.4
Hong Kong 11.6 9.4 11.8
Taiwan 11.4 9.3 18.6
South Korea 10.8 13.4 14.4
Singapore 7.6 10.2 5.9
India 6.9 1.9 2.9
Indonesia 6.2 5.2 2.5
Vietnam 3.1 3.2 3.1
Thailand 3.0 3.1 2.0
New Zealand 1.9 2.9 2.0 (nb ‘roundingsR17;) 100.0 100.0 100.0

Any thoughts, anyone?

[uapatel] 20/11/2023 15:28

Sold out at when share price was around £2.20 and decided to review post dividend.

The discount in NAV is good to see, so bought back 10K shares today. Hopefully the Asian markets (namely China), will turn around in 2024.

Probably won’t be adding more as there are other investments I would like to add into.

[aleman] 16/11/2023 16:25

The average discount across all investment trust sectors stood at 16.9% at the end of October, the widest discount for a month-end since December 2008, when it reached 17.7%, according to data from Morningstar.

[superiorshares] 15/11/2023 19:42

Tim 3
He puts 1 pound a week in his piggy . When he has enough to buy a share , he buys one :-)

[tim 3] 14/11/2023 08:10

Hi 2wild.

Thats an interesting strategy spreading your portfolio over a large range of high yielders.

Hope you don't mind me asking a couple of questions.

Is it something you have done long term and if so do you look/get some capital gain as well?

Also do you have a set criteria for buying?

[superiorshares] 14/11/2023 05:16

2 wild
Your incredibly wealthy being able to buy all of those over the last few months .

Or did you buy 3 of each ?

[2wild] 13/11/2023 19:39

Well, 4 balance, I'm 100% in equities. Over the last few months, I've brought the following on yields averaging 14% at time of purchase:
AA4
CAL
CLIG
DEC
DNA2
ENQ2
GABI
GCP
HFEL
LIN4
LIO
MNG
PHNX
RGL
SOHO
VSL
Current average yield circa 13% on above
Representing about 45% of my entire portfolio.

[2sporrans] 06/11/2023 16:27

I've also bought some long dated $Treas. + Gilts lately.

Looking to Corpies; wanting the spreads to widen before buying.

[tim 3] 06/11/2023 16:10

Am currently about 40% in the market (ETF's trackers)40% earning just over 5% in gilts.That yield is locked in for several years now.And 20% cash again earning about 5%Will add to the market when we get decent dips but in no hurry.

[2sporrans] 06/11/2023 14:07

Tim

"I mean why risk continuing to lose your dividend and more with capital deterioration when you can get near 6% returns guaranteed elsewhere."

A just question :b

I was knocking 60% portfolio weight in the money markets a year ago, safely earning at over 4%pa.
Currently, having sat on my hands wrt my allocation, over 60% in mm, earning ~5.5%.
Not in a hurry to depart.

[2sporrans] 06/11/2023 13:56

"BUY - when everyone is fearful!"

With a discount of merely 6%, investors remain pretty sanguine about HFEL.



I've been buying the dips, just not in HFEL.
AAIF has a far superior performance, any timeframe since early 2020.

Yet, it benefits from a decidedly more fearful 14% discount.
I'll continue to accumulate there, in part fed by the HFEL divi cash.

[gateside] 06/11/2023 10:29

BUY - when everyone is fearful!

[tim 3] 06/11/2023 09:45

Good post.

As you and others have pointed out their performance against others in the area is dire.

I think a combination of returns available elsewhere as well as continued dire share price performance has had an effect on the NAV.

I mean why risk continuing to lose your dividend and more with capital deterioration when you can get near 6% returns guaranteed elsewhere.

The most troubling thing is managers seem to think they are doing a good job!

[panshanger1] 02/11/2023 10:04

Annual report 10/11 last year do we have a date for this year ?Should be interesting

[superiorshares] 01/11/2023 18:50

Scruff .
I haven't watched the BBC for 11 years .
Those that watch that are deluded or just gullible.
Yes I agree with your point.
I personally take everything the analysts etc say with a pinch of salt.
My decisions generally come from my limited brain matter and to be honest just my own common sense .
Bog Standard analysis I call it .
My view on HFEL is all Geopolitical.
The US / China economic dream team is well and truly over !
Also to me it looks like the middle East will bubble over ?
This will exacerbate the friction between Asian, Middle Eastern and Russia and Western countries.
Longer term I think Asia will prosper and Europe and the US will not .
I have a small interest in the direction of this which is about to be closed . I'm not greedy , although I still think this is far likely to go a lot lower than it is likely to go higher .
SS

[scruff1] 01/11/2023 08:04

SS
That was only the property crisis. Later in the day I read a report claiming that the Chinese manufacturing sector had regressed despite the governments effort at support.
Depends on what the analysts want you to believe. Yesterday most reported that BP had missed it targets significantly. The BBC simply reported that the oil company had made 3.3bn profit

[superiorshares] 01/11/2023 04:32

FABIUS1
Yes I would like to refer to the EU on that one .
By 2008 their policies had bankrupted the banking system .
They commenced money printing to gloss it all over .
And carried on for about 12 years !!!
Of course they were not the only ones and the Politicians are now addicted to it .
My target for HFEL is well known its 1.10 / 1.30 in relatively quick order .
Derided by all the nomark little fascists.
I see nothing at the minute to change that

SS

[fabius1] 31/10/2023 21:14

SS, actually, you can get worse and it's called a bail out which is one of the chief reasons we have ailing economies propped up with debt with lousy fundamentals.

[superiorshares] 31/10/2023 20:10

Scruff.
HSBC is correct . The worst is over because its all bankrupt .
You can't get worse than that 😀
SS

[tim 3] 31/10/2023 08:28

They pay you 6p and price drops 12p.

Something not right with these and the market knows it or they would not be yielding 12%.

From their website

INVESTMENT OBJECTIVE

The Company seeks to provide shareholders with a growing total annual dividend per share, as well as capital appreciation

Spectacularly failing in the second objective.

DYOR but would be very cautious being tempted by that yield as for years now it has come at the cost of capital.

[scruff1] 31/10/2023 06:57

Worst of Chinese property crisis over according to HSBC

[superiorshares] 28/10/2023 20:44

Will Xi take this opportunity to consume Taiwan ?

SS

[superiorshares] 28/10/2023 17:13

Its official.

ISRAEL HAS INVADED GAZA !
expect steep falls in the markets in the coming weeks .

SS