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FE Trustnet Investment trusts

Factsheet

Henderson European Focus Trust PLC

201 Bishopsgate, London, EC2M 3AE
0845 608 8703 (Dealing)
0800 832 832 (Main Number)
www.henderson.com
support@henderson.com

*	Asim Rahman»	01-Jan-1971 to Present
*	John Bennett»	01-Dec-2010 to Present
	Eleanor Cameron»	01-May-2011 to 31-May-2011
	Roger Guy»	01-Jan-1993 to 30-Nov-2010

The Company seeks to maximise total return from a focused portfolio of listed Continental European Stocks.

Fund vs sector
	1y	3y
Position	1 / 8	4 / 8
Quartile	1	2

FE
Crown Rating
(Quantitative)

Ratios
	1y	3y
Volatility	14.13	19.60
Alpha	11.83	1.07
Beta	0.97	1.02
Sharpe	3.10	0.43
InfoRatio	2.35	0.16
R²	0.90	0.88
Quartiles: 1 2 3 4 vs. Europe»

FE Risk Scores
Instrument	1y(%) Growth	FE Risk Score
Henderson European Focus Trust PLC	62.0	115
Europe	46.5	105
Cash	n/a	0
Compare this fund to its peers using FE Risk Scores>>
Learn more about using FE Risk Scores>>

	1y	3y	5y	12m-24m	24m-36m	36m-48m	48m-60m
HNDRSN EPN FCUSTSTPLC ORD 50P	+62.0	+53.1	+40.3	-17.8	+15.0	+18.3	-22.5
NAV	+47.6	+54.7	+42.5	-13.3	+20.8	+19.2	-22.7
Europe	+46.5	+50.4	+31.4	-16.2	+22.4	+23.7	-29.4

Share Price
	Share	Price	Date	Prem/Disc	Diluted NAV		Gearing	Div yield
	Share	Price	Date	Prem/Disc	Estim	Last pub.	Gearing	Net	Gross
	HENDERSON EUROPEAN FOCUS TRUST PLC ORD 50P	789.00 (p)	17-May-2013	-6.65	845.24	845.90 28-Mar-2013	110	2.41	2.41

Capital structure & income
Share	Type	Exchange	Nominal value	Issued	Market value (m)	Wind-up date	Splits	News
HENDERSON EUROPEAN FOCUS TRUST PLC ORD 50P	UNIT	LONDON	50	16,920,000	133.50	n/a	n/a
Share identifiers: TIDM: HEFT; SEDOL: 0526885; ISIN: GB0005268858

Detailed fund information
Fund type	United Kingdom-registered Investment Trusts
Launched	1971
Gross assets	£157.6m / $239.6m
Sector	Europe
Asset Class	Equity
Own ISA wrapper
Savings plan	Minimum: £ 50.0 Monthly
Annual accounts	(Click to order)
Last report / accounts	04-May-2012
Last AGM	04-Feb-2010
Next AGM	February 2011
EGM	01-Dec-2010
Stockbroker(s)	Winterflood Investment Trusts
Management contract	Management agreement terminable on one years notice. The management fee is calculated monthly in arrear at 0.75% per annum on the value of the Company's Total Assets (before deducting bank loan). The Company's key performance indicator is the movement of the NAV compared with the movement of the FTSE World Index - Europe (ex UK) in sterling terms (the Index). The investment management agreement provides for an additional performance-related fee to the Manager in years when the NAV decreases based on the degree to which NAV exceeds that of the index. No performance related fee is payable for the year to 30-Sep-08.
Borrowing limit	Facility total = '50,000,000
Continuation / Wind-up provision	The Fund has an unlimited life. The board intends to introduce a discount management policy, Shares available in the market at prices representing discounts greater than 3.5% to NAV will be repurchased by the Company. At the AGM held on 30-Jan-09 the Company renewed its authority to repurchase up to 14.99% of its issued share capital. The Company did not appoint the Carrousel nominees to the Board of Directors. The Company revised its discount management policy at no greater than 3.5% to NAV; effective 09-Mar-07.
Dividend policy	n/a
Investment restrictions	The cost of any particular holding is restricted to 10% of the market value of the total assets.
Reconstruction proposal	n/a
Settlement details	n/a
Tax policy	n/a

Peer groups
Region	Asset Class	Investment Focus	Sector
Europe Ex UK	Equity	Mixed	Europe

Largest holdings, 28-Mar-2013
Holding	(%)	Rank	Prev	Holding	(%)	Rank	Prev
NOVARTIS AG	9.60	1	(2)	NESTLE SA	4.30	6	(5)
ROCHE HLDG AG	9.20	2	(1)	FRESENIUS SE & CO KGAA	4.10	7	(-)
SANOFI	6.90	3	(6)	NOVO-NORDISK AS	3.70	8	(3)
BAYER AG	5.20	4	(7)	SAP AG	3.70	9	(-)
REED ELSEVIER	4.50	5	(4)	ASTRAZENECA PLC	3.70	10	(-)
				Total	54.90

more history»

Regional weightings, 28-Mar-2013
Region	(%)	Rank	Prev
Switzerland	32.30	1	(1)
Germany	25.90	2	(2)
France	12.50	3	(3)
Netherlands	12.20	4	(4)
Sweden	7.10	5	(6)
Denmark	3.70	6	(5)
Norway	2.30	7	(7)
Finland	1.40	8	(9)
Belgium	0.90	9	(8)
Ireland	0.90	10	-
Others	0.80	11	(10)
Total	100.00

more history»

Sector weightings, 28-Mar-2013
Sector	(%)	Rank	Prev
Health Care	37.10	1	(1)
Consumer Goods	17.40	2	(2)
Basic Materials	10.60	3	(4)
Financials	10.50	4	(3)
Consumer Services	8.10	5	(6)
Technology	7.70	6	(7)
Industrials	4.20	7	(5)
Oil & Gas	3.70	8	(8)
Others	0.70	9	-
Total	100.00

more history»

All prices in Pence Sterling (GBX) unless otherwise specified. Price total return performance figures are calculated using closing mid prices and with net income (dividends) reinvested. NAV total return performance figures are calculated using fully diluted (where applicable) daily estimated NAV figures from Thomson Financial Datastream and with gross income (dividends) reinvested.