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HFEL Henderson Far East Income Limited

217.00
1.50 (0.70%)
14 Mar 2025 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Henderson Far East Income Limited LSE:HFEL London Ordinary Share JE00B1GXH751 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  1.50 0.70% 217.00 867,043 16:35:03
Bid Price Offer Price High Price Low Price Open Price
215.50 219.50 219.00 216.00 219.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 48.52M 39.33M 0.2329 9.27 363.87M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:08:08 O 300,000 217.50 GBX

Henderson Far East Income (HFEL) Latest News (3)

Henderson Far East Income (HFEL) Discussions and Chat

Henderson Far East Income Forums and Chat

Date Time Title Posts
16/3/202508:02Henderson Far East Income Ltd2,176
16/1/202513:59Henderson Far East15
04/1/201318:48HENDERSON Far East Ord. Trust.15

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Henderson Far East Income (HFEL) Most Recent Trades

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Henderson Far East Income (HFEL) Top Chat Posts

Top Posts
Posted at 16/3/2025 08:20 by Henderson Far East Income Daily Update
Henderson Far East Income Limited is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker HFEL. The last closing price for Henderson Far East Income was 215.50p.
Henderson Far East Income currently has 168,849,679 shares in issue. The market capitalisation of Henderson Far East Income is £364,715,307.
Henderson Far East Income has a price to earnings ratio (PE ratio) of 9.27.
This morning HFEL shares opened at 219p
Posted at 14/3/2025 08:28 by yump
Lord Gnome

There’s no causal link between your Dividend stripping, (if it took place and was possible on this scale) and the share price. Just a correlation. If it wasn’t clear, I was referring to the timing of dividend in and out behaviour as a zero sum game, because of the theoretical loss/gain being equal, as each investment goes ex-div.

Interest rate rises and gilt % have messed up loads of trust share prices.

If you think there’s another reason, what is it?
Posted at 13/3/2025 14:14 by yump
I suppose there are two independent ROC’s, HFEL’s dependent on their investment performance and ours on our purchase price.

I assume looking at the share price history, at some point hfel shares were yielding 5% and their investments were yielding 5%.

Then the share price halved.
Posted at 13/3/2025 13:09 by yump
Thats how it always works surely. Companies have £x in earnings to distribute as dividends - doesn’t matter where it comes from. Your yield depends on what you paid for the shares, because you get paid per share.

So if you bought £100 worth of shares at £1 each and someone else spent the same but only got 50 shares because they cost £2 each (when the share price was higher), your yield is twice his.

So you both get a fixed 2p per share, but you get 200p and he gets 100p in total.
Posted at 13/3/2025 10:50 by yump
Surely the yield on the invested businesses is not something that correlates with the HFEL yield. It gives a fixed cash amount at 5% yield.

If the share price was 10p or 1000p and you bought at those prices, that cash from the investments would be fixed, but the trust yield would be wildly different
Posted at 05/3/2025 13:21 by aleman
Overheads the same but larger investment pool generates better liquidity and its larger income should generate marginally better returns per share. The company have issued statements on the benefits in the past.

(Given reasonable investment returns, ) It means this trust possible has more of a future than those that are shrinking because they are persistently selling assets to fund buy-backs. Buy-backs raise returns per share in the short run but EVENTUALLY the fund encounters diminishing returns and at least four problems can appear.

i Institutions struggle with the falling liquidity, possibly abandoning the fund.

ii It becomes too small to efficiently support its own overheads.

iii The fund value fee it pays to the management stable shrinks, along with their other funds buying-back, such that the management stable want to merge it with a similar, or not so similar, fund.

iv Worse, it diminishes the management stable revenues to such a degree that it needs to merge or be taken over by another investment house.

There is a possible 5th problem that many funds selling the same assets at the same time pushes asset prices lower than they would otherwise be. Falling or slow growth in (underperforming) asset prices tends to lead to bigger discounts, which might defeat the object of the buy-back in the first place.

Think about it. Surely an investment house wants more funds under management to support the best wages for the best investment team. How can it have a future by selling off its investments over time (at possibly subdued prices), meaning it will have to reduce staff wages or numbers?

HFEL may have some issues but at least a shrinking fund through retiring shares is not one of them.
Posted at 24/1/2025 10:31 by sll
HFEL seems to do a (routinely!) good job of tapping the market, ahead of going XD, and while their share price is relatively strong (such as now). Where this goes next may be another matter?
Posted at 03/9/2024 09:37 by fordtin
Mostly disagree. Those of us who rely on dividends as a part of our retirement income would have an ever diminishing income if we had to sell shares to subsidise a dividend cut.

Slashing the dividend because woeful share price performance has artificially inflated the yield, results in a double whammy for anyone who has trusted the management and has ridden the storm through market down-turns.
The current dividend yield for anyone holding shares for 5 years, is only ~7%. Slashing that ~7% would be a huge red flag pointing to extremely poor and untrustworthy management.

I’ve unfortunately owned shares in several companies which have slashed their dividends. The inevitably poor share price performance post divi cut has taught me to take the loss and move on as soon as possible.

If HFEL lose the trust of passive long-term investors, it’s unlikely they’ll ever trade at a premium again, as they’ll probably become just another traders’ plaything being churned over at a very large discount to NAV.
Posted at 02/9/2024 09:58 by njb67
I tend to pay most interest in total share holder return as the underlying performance metric. (As an aside, I currently use NAV TSR rather than share price TSR as the share price discounts in the IT sector are distorting comparisons).

IF HFEL consistently deliver 10%+ per annum total shareholder return, then I am agnostic whether they pay out the full amount as dividend or retain some of it to grow NAV (with one hopes an equivalent increase in the SP). So, as an example. with a 5% divi and 5% annual share price growth, I can choose to top slice some of my holding if I want to cash in the full 10% increase in shareholder value per annum. That becomes a personal investment choice.

There are some ITs who pay out most of their income each year as dividends, so NAV growth is low. There are others who pay out nothing and have a faster NAV growth rate. As long as total returns meet your personal threshold, then imv that is more important than the dividend policy.

HFEL have been poorly managed in recent years, chasing yield to the detriment of total returns. One year in from their reset, they are doing ok, a 10% NAV total shareholder return secures them a mid-table ranking in the Asia Pacific sector (17% is best performance). If HFEL can maintain double digit annual TSR over the medium to long term, then most of us should be happy. Time will tell.
Posted at 24/4/2024 16:03 by kenmitch
Thanks for the good wishes Hastings. Not well but hopefully getting there.

Fair point about HFEL share price performance being enhanced by reduced discount. NAV is up around 10% from the low though, so definite hints of improvement.

There are STILL so many shares and Investment Trusts paying huge and often sustainable dividends, reflecting the undervaluation of a lot of UK shares. E.g just today Serica surprised by paying a 14p final (7% just for that 1 dividend) and the overall dividend is 11.5% and higher than last year.

Here’s a bit of info for those keen on seeing dividend cuts and more buybacks. Our portfolios have now reached the stage where all new investments can be paid for from the dividend income month after month.

AND it means the portfolios now fund themselves too.

And right now is still a good time to build a portfolio of shares and Trusts paying exceptionally high and sustainable dividends. It’s only when the dividends flow in like the current 10.4% HFEL yield, that we investors seem to realise what a bonus they are.
Posted at 15/9/2023 22:08 by investingdad
Post 1552Posted 22/8You claimed that HFEL was going to 110p or 130p because you had been watching Jim Cramer that day. HFEL share price at close 210.5p Inverse SS is the way to go. He does the research*, so you don't have to.
Henderson Far East Income share price data is direct from the London Stock Exchange

Henderson Far East Income Frequently Asked Questions (FAQ)

What is the current Henderson Far East Income share price?
The current share price of Henderson Far East Income is 217.00p
How many Henderson Far East Income shares are in issue?
Henderson Far East Income has 168,849,679 shares in issue
What is the market cap of Henderson Far East Income?
The market capitalisation of Henderson Far East Income is GBP 363.87M
What is the 1 year trading range for Henderson Far East Income share price?
Henderson Far East Income has traded in the range of 210.50p to 247.00p during the past year
What is the PE ratio of Henderson Far East Income?
The price to earnings ratio of Henderson Far East Income is 9.27
What is the cash to sales ratio of Henderson Far East Income?
The cash to sales ratio of Henderson Far East Income is 7.52
What is the reporting currency for Henderson Far East Income?
Henderson Far East Income reports financial results in GBP
What is the latest annual turnover for Henderson Far East Income?
The latest annual turnover of Henderson Far East Income is GBP 48.52M
What is the latest annual profit for Henderson Far East Income?
The latest annual profit of Henderson Far East Income is GBP 39.33M
What is the registered address of Henderson Far East Income?
The registered address for Henderson Far East Income is IFC1, THE ESPLANADE, ST HELIER, JERSEY, JE1 4BP
What is the Henderson Far East Income website address?
The website address for Henderson Far East Income is www.hendersonfareastincome.com
Which industry sector does Henderson Far East Income operate in?
Henderson Far East Income operates in the INVESTMENT OFFICES sector