Henderson Alternative Strategies Trust (LON:HAST) has continued in H217 to produce solid absolute returns from its portfolio of specialist and alternative funds investing in areas such as private equity, property, emerging markets and specialist credit. The three-year process of rebuilding the trust’s portfolio after its move to Janus Henderson was concluded nearly a year ago, and the managers are pleased with the progress made towards the informal target annualized return of 8%, measured over a three-year period. Share price returns over one year have kept pace with buoyant equity markets but with lower volatility, and over the same period HAST ranks third in its peer group for NAV total returns. The improved performance and a narrower discount may provide support as the trust approaches a three-yearly continuation vote in January 2018.
Investment strategy: Specialist and alternative focus
HAST is designed as a ‘one-stop shop’ through which investors can gain exposure to specialist and alternative funds. Managed by the experienced duo of Ian Barrass and James de Bunsen, who work within the multi-asset team at Janus Henderson Investors, HAST is a blend of funds investing in niche areas such as private equity, hedge funds, property, specialist credit and emerging markets. The managers aim to generate returns of c 8% a year on a rolling three-year basis from a portfolio of funds that investors would be unlikely or unable to access directly.
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