An introduction to Henderson High Income Trust plc
Value of Investment
The value of investments and the income from them may go down as well as up and you may not get back your original investment.
Past performance is not a guide to future performance.
More information can be found on the prices and performance page. http://www.henderson.com/sites/trusts/bankers-trust/pricesandperformance.aspx
Full details of risks. http://www.henderson.com/sites/trusts/bankers-trust/keyrisks.aspx
The effect of borrowing money for investment purposes. The amount a company can “gear” is the amount it can borrow in order to invest. Gearing is used in the expectation that the returns on the investments bought will exceed the costs of the borrowings that funded the purchase. Where a negative gearing figure is shown, this number represents the percentage of the portfolio held as cash. "
Alex Crooke,, Fund Manager
Alex first started his investment career in 1990, after leaving Manchester University with a degree in Astrophysics. His first role was as an investment analyst covering US companies before moving to join Henderson in 1994 and cover UK stocks. Alex's value-based investment style developed by managing a variety of income orientated funds and he took on the management of Henderson High Income in 1997. Since 2003 Alex has also successfully managed The Bankers Investment Trust PLC.
Hugh J Twiss, Chairman
Hugh Twiss joined the Board on 1 October 2003 and was elected Chairman in May 2006, having been Chairman of the Nominations Committee since January 2004. He has more than 30 years’ investment experience, predominantly with the Flemings Group where he was a senior member of their investment management operation for many years, including responsibility for investment teams and other business issues, before retiring in 2001. He has had many years’ involvement with investment trusts, including as a director, manager, major institutional shareholder and long time personal investor. He is currently a nonexecutive director of INVESCO Income Growth Trust plc, a member of the Greenwich Hospital Advisory Panel and is involved with other charities, as well as doing various consultancy assignments, including working with Trust Associates.
Vivian P Bazalgette, Director
Vivian Bazalgette joined the Board on 1 November 2004 and was Chairman of the Audit Committee from May 2006 until September 2008. His career as an investment specialist began over 30 years ago and included periods with James Capel, the stockbrokers, and Mercury Asset Management, before spending nearly 10 years at Gartmore where he became Managing Director of Pension Funds. In 1996 he joined M&G as Chief Investment Officer, retaining the same position until 2002 after M&G’s acquisition by Prudential. He was also a director of M&G High Income Investment Trust plc. He is currently a non-executive director of Brunner Investment Trust plc and Perpetual Income and Growth Trust plc, an adviser to BAE Systems Pension Fund and the Nuffield Foundation, as well as being a non-executive director of St James’s Place PLC and Chairman of its Investment Committee. Among a number of charity involvements, he is deputy chairman of the governors of Dulwich College and a member of the Advisory Board of Greenwich Hospital.
Andrew Bell, Director
Andrew Bell joined the Board on 1 November 2004. He has worked in the City since 1987, initially specialising in European equities as a strategist at Barclays de Zoete Wedd (BZW), following which he was Co-Head of the Investment Trusts team at BZW and Credit Suisse First Boston. From 2000 until February 2010 he worked for Carr Sheppards Crosthwaite and Rensburg Sheppards as Head of Research, leaving to take up appointment as a director and Chief Executive Officer of Witan Investment Trust plc from 8 February 2010. Prior to the City, he worked for Shell in Oman, leaving to take a Sloan Fellowship at the London Business School. He is a deputy chairman of the Association of Investment Companies.
Anthony Newhouse, Director
Anthony Newhouse joined the Board on 1 July 2008. He is a solicitor who was a partner in Slaughter and May until 2008. He began his career in the City in banking and joined Slaughter and May in 1976, where he became a partner in 1984. He had a wide-based domestic and international corporate finance practice, advising many UK listed and other corporate entities. He is currently a member of the PricewaterhouseCoopers Advisory Panel and a visiting professor at the London Metropolitan University Business School. During his career at Slaughter and May Mr Newhouse never acted for Henderson High Income Investment Trust plc. Mr Newhouse will not take part in any Board decision to use the services of Slaughter and May.
Margaret Littlejohns, Director
Margaret Littlejohns joined the Board on 1 July 2008. Following university she joined Citigroup, accumulating 18 years of experience in both commercial and investment banking and developing particular expertise in derivatives and in credit and market risk management. She has also worked as an independent consultant in the commercial, charitable and academic sectors. Since 2004 she has established two new self storage companies in the Midlands and is currently Finance Director and Company Secretary of The Space Place Self Storage (Telford) Ltd. In 2008 she was appointed as a non-executive director of JPMorgan Mid Cap Investment Trust plc. She is also a trustee of two charities involved in relieving and researching lymphatic cancer: The Lymphoma Association and The Lymphoma Research Trust.
Janet Walker, Director
Janet Walker joined the Board on 1 June 2007 and was appointed Chairman of the Audit Committee on 1 October 2008. Since the beginning of 2011 she has been the Bursar of Eton College. She was formerly the Commercial & Finance Director of Ascot Racecourse and a non-executive director of the Design Council and Royal Holloway College. From 1980 until 2003 Miss Walker was employed in broadcasting, including roles as Director of Finance and Business Affairs at Channel Four Television from 1998 to 2003, Director of Finance at Granada Media Group from 1996 to 1998, Financial Controller, Regional Broadcasting for the BBC from 1994 to 1996 and Deputy Director of Finance and Corporation Secretary at Channel Four Television from 1988 to 1994.