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Morningstar® CEF Report™

Henderson European Focus Trust HEFT

Closing Price
GBX788.50

1 Day Change
-2.99|-0.38%

As of 24/05/2013

Last Close	788.50
52-Wk Range	489.75 - 805.00
Tot Assets mil	162.67
Mkt Cap mil	133.92
Yield %	2.41

Est NAV	870.90
Discount %	-9.12
12M Avg Disc %	-12.34
Last Actual NAV	870.90
Latest NAV Date	23/05/2013

Performance (GBP)

Key Statistics (GBP)
Total Assets	162.668m
Net Assets	148.114m
Market Capitalisation	133.922m
Gross Gearing	110%
Net Gearing	110%
Average Daily Shares Traded (1 Yr)	0.018m
Average Daily Value Traded (1 Yr)	0.118m
Ongoing Charge (2012)	1.16%
Domicile	UK
Legal Structure	Closed End Fund
Traded Currency	GBP
ISIN	GB0005268858
Launch Date	01 Jan 1947
Financial Year End	Sep 2013
Next AGM	Jan 2014
NAV Frequency	Daily
Dividend Frequency	Annual

Valuation Statistics
	24/05/2013	1 Yr High	1 Yr Low
Price	791.50	805.00	489.75
NAV*	870.90	891.00	587.20
Discount/Premium	-9.12	-4.80	-17.82
Category Discount	-8.10	-6.66	-11.59
Z-Statistics (1Yr)	1.33

Total Returns (GBP)

	Chg (%)
3yr, 5yr & 10yr performance data is annualised.
More ...
Price	-0.38
NAV	-0.17
Category Price†	0.00
Category NAV†	0.00
Benchmark‡	-0.36

	Chg (%)
3yr, 5yr & 10yr performance data is annualised.
More ...
Price	1.35
NAV	4.01
Category Price†	3.86
Category NAV†	2.63
Benchmark‡	4.54

	Chg (%)
3yr, 5yr & 10yr performance data is annualised.
More ...
Price	8.91
NAV	7.22
Category Price†	3.62
Category NAV†	2.91
Benchmark‡	6.21

	Chg (%)
3yr, 5yr & 10yr performance data is annualised.
More ...
Price	61.87
NAV	49.15
Category Price†	42.69
Category NAV†	47.88
Benchmark‡	42.83

	Chg (%)
3yr, 5yr & 10yr performance data is annualised.
More ...
Price	17.00
NAV	17.44
Category Price†	15.65
Category NAV†	18.31
Benchmark‡	11.02

	Chg (%)
3yr, 5yr & 10yr performance data is annualised.
More ...
Price	7.32
NAV	8.05
Category Price†	5.00
Category NAV†	4.97
Benchmark‡	3.02

	Chg (%)
3yr, 5yr & 10yr performance data is annualised.
More ...
Price	14.40
NAV	13.20
Category Price†	11.83
Category NAV†	13.25
Benchmark‡	10.41

Latest Dividends (GBX)
Type	Dividend	Ex-Dividend Date	Financial Year
Income	19.0000	12/12/2012	2012
Income	17.7500	14/12/2011	2011
Income	16.5000	08/12/2010	2010
Income	14.0000	06/01/2010	2009
Income	12.5500	07/01/2009	2008

Director Dealings
Traded	Action	Notifier	Price	Amount	Value
More ...
11/12/2012	Purchase	Michael Firth	633.30	2,500	15,833.00
27/11/2012	Purchase	Rodney Dennis	620.00	2,515	15,593.00
22/11/2012	Purchase	Rodney Dennis	614.69	3,000	18,441.00
21/11/2012	Purchase	Rodney Dennis	609.44	2,000	12,189.00

* Estimated
† Morningstar Investment Trust European
‡ FTSE World Eur Ex UK TR GBP

Morningstar Analyst Rating™

Morningstar Rating™

Morningstar® Category

Europe ex-UK Large-Cap Equity

Benchmarks

Fund Benchmark

FTSE World Europe ex UK

Morningstar® Benchmark

FTSE World Eur Ex UK TR GBP

Fund Structure
ShareType	# of Shares
Ordinary Share	16.920m

Investment Objective

The company aims to seek to maximize total return from a focused portfolio of listed Continental European stocks.

Managers
John Bennett	12/01/2011

Directors

Jean Claude Banon, Alexander Comba, Rodney Dennis, Michael Firth

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