Looking to the “sunny uplands of recovery”
Janus Henderson
David Smith, Fund Manager for Henderson High Income Trust, discusses the latest portfolio activity, the Trust’s recent performance and highlights the companies driving this performance. David also explains why he believes that by gaining the much-anticipated clarification on Brexit and COVID-19 vaccines, the UK equity market should look towards a positive recovery in 2021.
Glossary
Net asset value (NAV): the total value of a fund’s assets less its liabilities.
Cyclical stocks: Companies that sell discretionary consumer items, such as cars, or industries highly sensitive to changes in the economy, such as miners. The prices of equities and bonds issued by cyclical companies tend to be strongly affected by ups and downs in the overall economy, when compared to non-cyclical companies.
In this 2-part series, City A.M. asked UK-focused fund managers what they make of the post-Brexit trade arrangements and the impact of three lockdowns.
A
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