Henderson European Focus trust NAV 13% down in 'most difficult conditions'

£384m trust

The £384m Henderson European Focus trust has reported its net asset value fell by 13.1% over the last year to September, blaming “some of the most difficult investing conditions in a generation”.

This compared to a NAV growth 22.6% in 2021. It was also slightly behind its benchmark figure of ‑12.8%. The share price total return for the trust was down 18.3%, compared to a growth of 28.8% last year. However, dividends to shareholders in the trust increased 31.4% from 2021.  The proposed final dividend is 3.15p per share, up from 2.35p last year, and makes a total dividend of 4.35p per share, an increase from 3.31p last year.  Shares were trading at a discount to NAV of 14% at the end of September. This compares to 8.3% in 2021. Schroder European Real Estate's NAV decline...