Henderson equity switch

Henderson TR Pacific Investment Trust has been selling down its bond weighting and is now fully invested in equities. At the same time the trust's discount has come in significantly. Last November it was trading at a discount to NAV of 23%. The £178.8m trust has benefited from the recovery in the Asian market. In the six months to the end of June the NAV per share rose by 53.9% to 93.7p. At the same time the discount narrowed into a single figure, as at the 6 August the discount was 9. One of the reasons for the trust's turnaround is the manager sold its fixed interest exposure. At the ...