Henderson Diversified Income Trust – Shift to onshore. Marten & Co has published our first note, as we initiate our research on HDIV.

Henderson Diversified Income Trust (HDIV) has completed its move to a UK domicile and, from both its board and managers’ perspective, it is business as usual. With the freedom to access the whole of the fixed and floating rate income market in search of returns, its managers remain focused on producing an attractive yield from a portfolio designed to protect investors’ capital. Its managers are delivering, consistently, benchmark-beating returns.

High income from a flexible fixed income portfolio

HDIV’s objective is to seek income and capital growth such that, on a rolling annual basis, the total return (total return reflects the reinvestment of dividends) on the NAV includes exceeds three-month sterling LIBOR plus 2%. It has a global mandate and invests selectively across the full spectrum of fixed income asset classes including, but not limited to, secured loans; government bonds; asset-backed securities; investment-grade corporate bonds; high-yield corporate bonds; unrated bonds; preference and selective high-yield equity shares; hybrid securities; convertible bonds; and floating-rate notes. The managers use borrowing to enhance returns.

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HDIV : Henderson Diversified Income Trust – Shift to onshore