Henderson trust raises £21m via C-share issue

Henderson’s £63m International Income trust has completed a C-share issue which will increase the trust’s size by a third.

The trust, run by Ben Lofthouse, has had subscriptions from investors for £21m worth of shares - a third of the trust’s present value.

The company said after expenses of 2 per cent, the fund raising would mean an additional £20.6m being available to the trust to “pursue its investment objective”.

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Since launch in April 2011, the trust has delivered 27.2 per cent, slightly underperforming its MSCI World ex UK index’s 28.2 per cent, according to FE Analytics.

Henderson said the issue of the shares would be confirmed at an extraordinary general meeting on November 18.