Henderson Far East Income Ltd
Henderson Far East Income Limited is a closed ended balanced mutual fund launched and managed by Henderson Investment Funds Limited. The fund is managed by Henderson Global Investors Limited. It invests in the public equity and fixed income markets of Pacific, Australasia, Japan, and India. The fund invests in stocks of companies operating across diversified sectors. Henderson Far East Income Ltd… Read more
Henderson Far East Income Ltd (HFEL) - Net Assets
Latest net assets as of August 2025: GBX407.66 Million GBX
Based on the latest financial reports, Henderson Far East Income Ltd (HFEL) has net assets worth GBX407.66 Million GBX as of August 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX466.78 Million) and total liabilities (GBX59.12 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX407.66 Million |
| % of Total Assets | 87.33% |
| Annual Growth Rate | 6.58% |
| 5-Year Change | -9.94% |
| 10-Year Change | 5.38% |
| Growth Volatility | 13.48 |
Henderson Far East Income Ltd - Net Assets Trend (2000–2025)
This chart illustrates how Henderson Far East Income Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Henderson Far East Income Ltd (2000–2025)
The table below shows the annual net assets of Henderson Far East Income Ltd from 2000 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-08-31 | GBX407.66 Million | +11.35% |
| 2024-08-31 | GBX366.10 Million | +1.12% |
| 2023-08-31 | GBX362.03 Million | -16.88% |
| 2022-08-31 | GBX435.58 Million | -3.77% |
| 2021-08-31 | GBX452.64 Million | +6.27% |
| 2020-08-31 | GBX425.93 Million | -9.21% |
| 2019-08-31 | GBX469.12 Million | +6.38% |
| 2018-08-31 | GBX441.00 Million | -0.33% |
| 2017-08-31 | GBX442.48 Million | +14.38% |
| 2016-08-31 | GBX386.86 Million | +25.68% |
| 2015-08-31 | GBX307.82 Million | -13.29% |
| 2014-08-31 | GBX355.02 Million | +8.97% |
| 2013-08-31 | GBX325.80 Million | +8.42% |
| 2012-08-31 | GBX300.50 Million | +4.56% |
| 2011-08-31 | GBX287.39 Million | +0.87% |
| 2010-08-31 | GBX284.92 Million | +32.21% |
| 2009-08-31 | GBX215.50 Million | +6.09% |
| 2008-08-31 | GBX203.13 Million | -2.68% |
| 2007-08-31 | GBX208.74 Million | +22.47% |
| 2006-08-31 | GBX170.43 Million | +8.47% |
| 2005-08-31 | GBX157.12 Million | +36.68% |
| 2004-08-31 | GBX114.95 Million | +10.85% |
| 2003-08-31 | GBX103.70 Million | +30.25% |
| 2002-08-31 | GBX79.62 Million | +3.89% |
| 2001-08-31 | GBX76.64 Million | -7.42% |
| 2000-08-31 | GBX82.78 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Henderson Far East Income Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 100.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (August 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | GBX407.66 Million | 100.00% |
| Total Equity | GBX407.66 Million | 100.00% |
Henderson Far East Income Ltd Competitors by Market Cap
The table below lists competitors of Henderson Far East Income Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
CONCORD NEW ENERGY (HK51.SG)
STU:HK51
|
$290.03 |
|
KENYA RE-INSURANCE CORPORATION LTD
XNAI:KENRE
|
$290.11 |
|
El Wadi For International and Investement Development
EGX:WACE
|
$290.47 |
|
FOACW
PINK:FOACW
|
$290.64 |
|
Emerald Real Estate Investment
EGX:EMRI
|
$288.75 |
|
CC Japan Income and Growth Trust PLC
LSE:CCJI
|
$287.89 |
|
AIRTEL UGANDA LIMITED
USE:AIRTELUGANDA
|
$287.15 |
|
Bresler & Reiner Inc
PINK:BRER
|
$286.68 |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Henderson Far East Income Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 366,104,000 to 407,659,000, a change of 41,555,000 (11.4%).
- Net income of 45,112,000 contributed positively to equity growth.
- Dividend payments of 42,701,000 reduced retained earnings.
- New share issuances of 39,021,000 increased equity.
- Other comprehensive income decreased equity by 63,544,000.
- Other factors increased equity by 63,667,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX45.11 Million | +11.07% |
| Dividends Paid | GBX42.70 Million | -10.47% |
| Share Issuances | GBX39.02 Million | +9.57% |
| Other Comprehensive Income | GBX-63.54 Million | -15.59% |
| Other Changes | GBX63.67 Million | +15.62% |
| Total Change | GBX- | 11.35% |
Book Value vs Market Value Analysis
This analysis compares Henderson Far East Income Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 113.74x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 94.45x to 113.74x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-08-31 | GBX2.69 | GBX254.00 | x |
| 2008-08-31 | GBX2.62 | GBX254.00 | x |
| 2009-08-31 | GBX2.73 | GBX254.00 | x |
| 2010-08-31 | GBX3.11 | GBX254.00 | x |
| 2011-08-31 | GBX2.91 | GBX254.00 | x |
| 2012-08-31 | GBX2.97 | GBX254.00 | x |
| 2013-08-31 | GBX3.17 | GBX254.00 | x |
| 2014-08-31 | GBX3.36 | GBX254.00 | x |
| 2015-08-31 | GBX2.79 | GBX254.00 | x |
| 2016-08-31 | GBX3.39 | GBX254.00 | x |
| 2017-08-31 | GBX3.82 | GBX254.00 | x |
| 2018-08-31 | GBX3.64 | GBX254.00 | x |
| 2019-08-31 | GBX3.72 | GBX254.00 | x |
| 2020-08-31 | GBX3.10 | GBX254.00 | x |
| 2021-08-31 | GBX3.11 | GBX254.00 | x |
| 2022-08-31 | GBX2.99 | GBX254.00 | x |
| 2023-08-31 | GBX2.28 | GBX254.00 | x |
| 2024-08-31 | GBX2.25 | GBX254.00 | x |
| 2025-08-31 | GBX2.23 | GBX254.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Henderson Far East Income Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 11.07%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 86.78%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 1.15x
- Recent ROE (11.07%) is above the historical average (5.49%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | 15.59% | 91.47% | 0.16x | 1.07x | GBX11.66 Million |
| 2008 | 1.73% | 69.01% | 0.02x | 1.06x | GBX-16.79 Million |
| 2009 | 3.59% | 85.17% | 0.04x | 1.01x | GBX-13.82 Million |
| 2010 | 15.37% | 95.01% | 0.16x | 1.02x | GBX15.29 Million |
| 2011 | 1.98% | 74.28% | 0.03x | 1.01x | GBX-23.06 Million |
| 2012 | 8.24% | 91.46% | 0.08x | 1.07x | GBX-5.28 Million |
| 2013 | 10.06% | 92.53% | 0.10x | 1.11x | GBX185.20K |
| 2014 | 10.30% | 92.92% | 0.10x | 1.08x | GBX1.05 Million |
| 2015 | -13.07% | 0.00% | -0.11x | 1.12x | GBX-71.03 Million |
| 2016 | 24.65% | 96.92% | 0.24x | 1.07x | GBX56.69 Million |
| 2017 | 15.19% | 95.40% | 0.15x | 1.08x | GBX22.96 Million |
| 2018 | 1.50% | 62.22% | 0.02x | 1.07x | GBX-37.51 Million |
| 2019 | 6.03% | 88.74% | 0.07x | 1.04x | GBX-18.61 Million |
| 2020 | -11.46% | 0.00% | -0.10x | 1.04x | GBX-91.41 Million |
| 2021 | 6.56% | 87.00% | 0.07x | 1.06x | GBX-15.59 Million |
| 2022 | 1.83% | 62.81% | 0.03x | 1.05x | GBX-35.60 Million |
| 2023 | -15.53% | 0.00% | -0.13x | 1.09x | GBX-92.44 Million |
| 2024 | 10.74% | 89.84% | 0.11x | 1.05x | GBX2.72 Million |
| 2025 | 11.07% | 86.78% | 0.11x | 1.15x | GBX4.35 Million |
Industry Comparison
This section compares Henderson Far East Income Ltd's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $395,694,700
- Average return on equity (ROE) among peers: -81.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Henderson Far East Income Ltd (HFEL) | GBX407.66 Million | 15.59% | 0.15x | $289.91 |
| 3I Infrastructure PLC (3IN) | $1.09 Billion | 8.57% | 0.18x | $396.99K |
| 450 PLC (450) | $1.30 Million | -791.13% | 5.03x | $1.71K |
| abrdn Asian Income Fund Limited (AAIF) | $431.48 Million | 11.10% | 0.09x | $315.37 |
| Abrdn Asia Focus PLC (AAS) | $464.40 Million | -2.37% | 0.15x | $434.78 |
| Albion Technology & General VCT PLC (AATG) | $34.46 Million | 4.41% | 0.01x | $78.71 |
| Aberdeen Diversified Income and Growth Trust PLC (ADIG) | $492.42 Million | 0.00% | 0.32x | $16.61 |
| Aquila Energy Efficiency Trust PLC (AEET) | $97.38 Million | -0.64% | 0.00x | $2.38K |
| Aquila European Renewables Income PLC (AERI) | $320.23 Million | -9.29% | 0.00x | $2.45K |
| Artemis UK Future Leaders plc (AFL) | $84.35 Million | -40.52% | 0.02x | $401.26 |
| AVI Global Trust PLC (AGT) | $938.94 Million | 2.59% | 0.12x | $2.83 Million |