Henderson Smaller Cos Inv Tst PLC Review on Henderson Smaller Companies Invst Trust
24 Agosto 2023 - 3:15AM
RNS Non-Regulatory
TIDMHSL
Henderson Smaller Cos Inv Tst PLC
24 August 2023
London, UK, 24 August 2023
Edison issues review on Henderson Smaller Companies Investment
Trust (HSL)
Henderson Smaller Companies Investment Trust (HSL) is managed by
Neil Hermon, who has been at the helm for more than 20 years. While
FY23, ending 31 May, was a difficult year as growth stocks derated
in an environment of rising interest rates and bond yields, this
should be put into context as the manager has outperformed the
trust's benchmark in 16 of the last 20 years. Hermon believes that
there is a disconnect between portfolio companies' valuations and
the strength of their operations as, faced with higher input costs,
businesses have adapted to protect their margins. The manager has
taken the opportunity of share price weakness to add some new
high-quality names to the portfolio, which would have previously
been disregarded on valuation grounds. HSL is now one of just 20
funds designated as an AIC dividend hero.
Hermon and his team employ a solid, repeatable investment
process based on four M's: a company's business model, the quality
of its management team, its financial strength (money) and momentum
in terms of a firm's recent and longer-term news flow. ESG
considerations are an integral part of the thorough fundamental
approach. The manager is closely supported by two colleagues, both
of whom are also qualified accountants, which is a particular
benefit in the analysis of a smaller company's financial strength.
Hermon is also able to draw on the broad resources of Janus
Henderson Investors' wider investment team, which has both UK and
global specialists, including other small- and mid-cap focused
managers.
Click here to view the full report.
All reports published by Edison are available to download free
of charge from its website
www.edisongroup.com
About Edison: E dison is a leading research and investor
relations consultancy, connecting listed companies to the widest
pool of global investors. By focusing on the volume and quality of
investors reached - across institutions, family offices, wealth
managers and retail investors - Edison can create and gauge intent
to purchase, even in the darkest pools of capital, and then make
introductions via non-deal roadshows, events or virtual
meetings.
Having been the first company in-market 17 years ago, Edison has
more than 100 employees and covers every economic sector.
Headquartered in London, Edison also has offices in New York,
Sydney and Wellington.
Edison is authorised and regulated by the Financial Conduct
Authority .
Edison is not an adviser or broker-dealer and does not provide
investment advice. Edison's reports are not solicitations to buy or
sell any securities.
For more information, please contact Edison:
Mel Jenner +44 (0)20 3077 5700
investmenttrusts@edisongroup.com
Learn more at www.edisongroup.com and connect with Edison
on:
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