HFL – Monthly Factsheet as at 31 December 2020

Investment
Trust
For promotional purposes
HENDERSON FAR EAST INCOME
LIMITED
www.hendersonfareastincome.com
Fund facts at 31 December 2020
Company objective
Henderson Far East Income
Limited seeks to provide
shareholders with a growing total
annual dividend per share, as well
as capital appreciation from a
diversified portfolio of investments
from the Asia Pacific region. The
latest Annual Report and Key
Information Document set out the
investment objective and policy in
full and you should read them
before investing.
For commentary from our fund
manager please visit our website.
NAV (cum income)
318.4p
NAV (ex income)
313.9p
Share price
326.5p
Discount(-)/premium(+)
+2.6%
Yield
7.04%
Net gearing
4%
Net cash
-
Total assets
£481m
Net assets
£456m
Market capitalisation
£467m
Shares in issue
143,073,564
Total number of holdings
48
Ongoing charges
1.08%
(year end 31/08/2020)
Ratings
Morningstar rating -
QQQ
Source: BNP Paribas for holdings
information and Morningstar for all
other data. Differences in calculation
may occur due to the methodology
used.
Customer services
0800 832 832
Share price performance (total return)
80
100
120
140
160
180
Dec
15
Dec
16
Dec
17
Dec
18
Dec
19
Dec
20
Price (rebased)
Dividend history (pence/share)
0
5
10
15
20
25
2007
2008
20092010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Income
Please note that this chart could include dividends that have been declared but not yet paid.
Discount/premium (%) with average line (cum income)
-10
-5
0
5
10
Dec
17
Aug
18
Mar
19
Oct
19
May
20
Dec
20
Cumulative performance (cum income) (%)
Performance over10y5y3y1y6m
Share price (Total Return)
71.254.04.5-4.06.3
Net Asset Value (Total Return)76.352.44.1-3.46.1
Annual performance (cum income) (%)
Discrete year performance
% change (updated quarterly)
Share
Price
NAV
31/12/2019 to 31/12/2020-4.0-3.4
31/12/2018 to 31/12/201912.716.1
29/12/2017 to 31/12/2018-3.4-7.1
30/12/2016 to 29/12/201716.918.5
31/12/2015 to 30/12/201626.123.5
All performance, cumulative growth and annual growth data is sourced from Morningstar.
Top 10 holdings(%)
Samsung Electronics 5.4
Taiwan Semiconductor Manufacturing 3.9
BHP Group 3.0
Vinacapital Vietnam Opportun GBP 2.9
Rio Tinto 2.8
KB Financial Group 2.8
Macquarie Korea Infrastructure Fund 2.7
LG 2.7
AIA Group 2.6
Yageo 2.6
Geographical focus (%)
China22.9
South Korea22.4
Australia12.9
Taiwan10.7
Hong Kong10.1
Thailand5.5
Singapore5.5
United States2.9
United Kingdom2.8
Indonesia2.4
Sector breakdown (%)
0
10
20
30
40
50
Financials
Consumer Goods
Telecommunications
Technology
Industrials
Basic Materials
Consumer Services
Utilities
Oil & Gas
www.hendersonfareastincome.com
Please remember that past performance is not a guide to future performance. The value of an investment and the income from
it can rise as well as fall as a result of market and currency fluctuations, and you may not get back the amount originally invested.

Investment
Trust
For promotional purposes
HENDERSON FAR EAST INCOME
LIMITED
www.hendersonfareastincome.com
Company information
Stock code
HFEL
AIC sector
Asia Pacific Income
Benchmark
n/a
Company type
Conventional
(Ords)
Launch date
2006 (of the current
Jersey domiciled
company)
Financial year end
31 Aug
Dividend payment
May, August,
November, February
Risk rating
Slightly above
average
(Source: Numis)
Management fee
0.9% reducing to 0.75% of net assets above
£400m.
Performance fee
No
(See Annual Report & Key Information Document for
more information)
Regional focus
Asia Pacific – ex
Japan
Fund manager
appointment
Michael Kerley- 2007
Sat Duhra- 2019
Fund manager
Sat Duhra
Fund manager
Michael Kerley
www.twitter.com/jhitrustsUK
Customer services
0800 832 832
Glossary
NAV (Cum Income) The value of investments and cash, including
current year revenue, less liabilities (prior charges such as
loans, debenture stock and preference shares at fair value).
NAV (Ex Income) The value of investments and cash, excluding
current year revenue, less liabilities (prior charges such as
loans, debenture stock and preference shares at fair value).
Share price Closing mid-market share price at month end.
Discount/premium The amount by which the price per share of
an investment trust is either lower (at a discount) or higher
(at a premium) than the net asset value per share (cum
income), expressed as a percentage of the net asset value
per share.
Total assets Cum Income NAV multiplied by the number of
shares, plus prior charges at fair value.
Net assets Total assets minus any liabilities such as bank loans
or creditors.
Market capitalisation Month end closing mid-market share price
multiplied by the number of shares outstanding at month
end.
Share price total return The theoretical total return to the investor
assuming that all dividends received were reinvested in the
shares of the company at the time the shares were quoted
ex-dividend. Transaction costs are not taken into account.
Net asset value total return The theoretical total return on
shareholders' funds per share reflecting the change in Net
Asset Value (NAV) assuming that dividends paid to
shareholders were reinvested at NAV at the time the shares
were quoted ex-dividend. A way of measuring investment
management performance of investment trusts which is not
affected by movements in discounts/premiums.
Yield Calculated by dividing the current financial year's
dividends per share (this will include prospective dividends)
by the current price per share, then multiplying by 100 to
arrive at a percentage figure.
Ongoing charges The total expenses for the financial year
(excluding performance fee), divided by the average daily
net assets, multiplied by 100.
Gearing The effect of borrowing money for investment
purposes (financial gearing). The amount a company can
“gear” is the amount it can borrow in order to invest. Gearing
is used in the expectation that the returns on the investments
bought will exceed the costs of the borrowings that funded
the purchase. This Company can also use synthetic gearing
through derivatives and foreign exchange hedging and/or
other non-fully funded instruments or techniques.
Leverage The Trust’s leverage is the sum of financial gearing
and synthetic gearing. Details of the Trust’s leverage limits
can be found in both the Key Information Document and
Annual Report. Where a trust utilises leverage, the profits
and losses incurred by the trust can be greater than those
of a trust that does not use leverage.
Net cash A company’s net exposure to cash/cash equivalents
expressed as a percentage of shareholders’ funds, after any
offset against its gearing. This is only shown for companies
that have gearing in place.
Net gearing A company’s total assets (less cash/cash
equivalents) divided by shareholders’ funds expressed as a
percentage.
Risk rating The key measure used to assess risk is volatility of
returns, using historic net asset value (NAV) performance of
the trust over 1 and 3 years. In this instance volatility
measures how much a trust’s NAV fluctuates over time in
relation to the UK Equity market. The higher a volatility figure,
the more the NAV has fluctuated (both up and down) over
time. Please note that risk categorisations are indicative and
based principally on historic data and should not be solely
relied upon when making investment decisions.
For a full list of terminology please visit;
www.hendersoninvestmenttrusts.com
Specific risks
• Most of the investments in this portfolio are not made in Sterling, so exchange rates could affect the value and income
from your investment.
• Asian focused portfolios are exposed to Emerging Markets which tend to be less stable than more established markets
and can be affected by local political and economic conditions, reliability of trading systems, buying and selling practices
and financial reporting standards.
• If a fund is a specialist country-specific or geographic regional fund, the investment carries greater risk than a more
internationally diversified portfolio.
•This portfolio allows the manager to use options for revenue enhancement purposes. Options can be volatile and may result
in a capital loss.
How to invest
To find out more visit www.hendersoninvestmenttrusts.com/invest
Other documents available online
To see the Annual Report, KID and to watch the latest fund manager commentary, visit
www.hendersonfareastincome.com
www.hendersonfareastincome.com
© Copyright 2020 Morningstar. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely.
Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
All data in this factsheet is as at or to 31 December 2020 unless otherwise stated. Issued in the UK by Janus Henderson Investors.
Janus Henderson Investors is the name under which investment products and services are provided by Janus Capital International Limited (reg no. 3594615), Henderson Global Investors Limited (reg. no. 906355), Henderson Investment Funds
Limited (reg. no. 2678531), AlphaGen Capital Limited (reg. no. 962757), Henderson Equity Partners Limited (reg. no.2606646), (each registered in England and Wales at 201 Bishopsgate, London EC2M 3AE and regulated by the Financial
Conduct Authority) and Henderson Management S.A. (reg no. B22848 at 2 Rue de Bitbourg, L-1273, Luxembourg and regulated by the Commission de Surveillance du Secteur Financier). We may record telephone calls for our mutual protection,
to improve customer service and for regulatory record keeping purposes. [Janus Henderson, Janus, Henderson, Perkins, Intech, Alphagen, VelocityShares, Knowledge. Shared and Knowledge Labs] are trademarks of Janus Henderson Group plc
or one of its subsidiaries. © Janus Henderson Group plc. Henderson Far East Income Limited is a Jersey fund, registered at IFC 1, The Esplanade, St Helier, Jersey JE1 4BP and is regulated by the Jersey Financial Services Commission.