Henderson High Income (HHI) was launched in 1989 as TR High Income. It was first managed by Job Curtis, the long-time manager of City of London (CTY), and later by Alex Crooke, the 20-year veteran of Bankers (BNKR). Since 2015, HHI has been managed by David Smith, who is also the deputy manager of CTY. Around 90% of HHI's portfolio is invested in UK equities with the remaining 10% in fixed interest although the proportion in fixed-interest securities used to be somewhat higher. Returns have been boosted in recent years by net gearing of between 20 and 25%. HHI has merged or been the rollover o...
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Update (Sep 2026): CTY became the first trust to reach 60 years of consecutive dividend increases in 2026. In the year to June 2024, it returned +16% versus +13% for the All-Share, followed by +17% versus +11% to June 2025, and +22% versus 22% to June 2026. The shares traded at a discount for most of 2024 and early 2025, but since then it has mostly enjoyed a premium rating and returned to regular issuance, taking its market cap to around £3bn.
The City Of London Investment Trust (ticker: CTY) was launched in 1891. It has the longest run of consecutive dividend increases across the investment...
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