Henderson Opportunities Trust (HOT) has performed particularly strongly over the past 12 months, leading to signs of a reappraisal among investors with the trust's persistent double-digit discount to NAV narrowing almost to par. Managers James Henderson and Laura Foll have made the best of HOT's flexible all-cap structure, reaping the benefits of strong performance from early-stage hydrogen plays in 2020 and rotating towards more cyclical names late in the year as the market focus switched to value. The managers see the trust as a 'good mixer', with its large exposure to small-cap and particularly AIM stocks meaning it offers significant differentiation both from its peers and the managers' other portfolios. While focused on capital growth, HOT also offers a 1.9% dividend yield and has a 10-year record of dividend growth (supported by reserves in FY20).Den vollständigen Artikel lesen ...