Henderson Smaller’s half-year hurt

Gearing impacted trust’s half time performance, yet manager Neil Hermon is still seeing ‘exciting growth opportunities’
First half results (18 Jan) from Henderson Smaller Companies Investment Trust ( HSL ) reveal a rare period of underperformance. But manager Neil Hermon, who has outperformed the benchmark in 14 of the past 15 financial years, insists his universe ‘continues to throw up exciting growth opportunities’ and M&A ‘remains a supportive feature’. For the six months ended 30 November, the trust delivered a net asset value (NAV) total...

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