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Henderson Diversified Income Trust PLC - fixed income-focused fund - Records a net asset value per ordinary share as at October 31 of 69.24 pence, down 24% from 91.42 pence on the same date a year before. Records a total NAV return of negative 10.4% for the half-year period. Underperformers its benchmark during the 6-month period, which fell by 6.9%. Attributes performance to political and economic volatility with the war in Ukraine, the resignation of Boris Johnson, the short reign of Liz Truss and the appointment of Rishi Sunak as UK prime minister. Declares a first interim dividend of 1.10p, flat, year-on-year.
‘We remain cautious on gearing and credit in the short term given current valuations and possible hard landing outlook. We feel a hard economic landing outlook is much more likely than a soft landing. Consequently, we are taking a more defensive stance against default risk:- by favouring investment grade bonds over high yield bonds (and secured loans),’ Fund Managers John Pattullo, Jenna Barnard and Nicholas Ware comment.
Current stock price: 70.00 pence
12-month change: down 16%
By Abby Amoakuh, Alliance News reporter
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