Henderson Far East Income - Positioned to benefit as Asia outperforms

Asian equities have outperformed the US and global markets this year and the manager of Henderson Far East Income (HFEL), Sat Duhra, expects this outperformance to continue, underpinned by a number of structural growth trends, such as the drive to enhance shareholder returns via increased dividend payments. Other supportive themes include financial inclusion and investment in technology and infrastructure. Since our last note, Duhra has continued his efforts to raise exposure to these structural growth opportunities, while still protecting income. These efforts, combined with an improvement in the performance of value stocks, have already improved performance in outright terms. The trust also looks set to deliver an 18th successive year of dividend growth in FY25 (ending 31 August 2025) (Exhibit 1). Duhra believes the trust is well positioned to grasp further opportunities to invest in structural growth, at attractive valuations, as they arise, and to reap the performance benefit of such exposure, including rising dividend payouts, over the remainder of 2025 and well beyond.

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