Net Asset Value(s)

Bankers Investment Trust PLC

01 March 2024

 

JANUS HENDERSON FUND MANAGEMENT UK LIMITED

1 March 2024

Trust Name	HENDERSON EUROTRUST PLC
Legal Entity Identifier	213800DAFFNXRBWOEF12
NAV Details	As at close of business on 29 February 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 170.6p.   As at close of business on 29 February 2024, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 170.4p.
For further information, please call:	Wendy King Janus Henderson Investors Telephone: [phone]

Trust Name	HENDERSON EUROPEAN FOCUS TRUST PLC
Legal Entity Identifier	213800GS89AL1DK3IN50
NAV Details	As at close of business on 29 February 2024, the unaudited net asset value per ordinary share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 201.0p. As at close of business on 29 February 2024, the unaudited net asset value per ordinary share (excluding current financial year revenue items and shares held in treasury) was 200.4p. The Company's loan notes are valued at par.
For further information, please call:	Wendy King Janus Henderson Investors Telephone: [phone]

Trust Name	LOWLAND INVESTMENT COMPANY PLC
Legal Entity Identifier	2138008RHG5363FEHV19
NAV Details	As at close of business on 29 February 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 129.5p and the net asset value per share with debt marked at fair value as 131.7p. As at close of business on 29 February 2024, the unaudited net asset value per share (excluding current financial year revenue items) was 128.6p and the net asset value per share with debt marked at fair value was 130.7p. Debt marked at fair value is the Company's estimate of the "fair value" of its senior unsecured notes. The current estimated fair value of the Company's senior unsecured notes is based on a discount rate calculated using the redemption yield of the relevant existing UK Gilt plus a credit spread. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs.
For further information, please call:	Wendy King Janus Henderson Investors Telephone: [phone]

Trust Name	THE BANKERS INVESTMENT TRUST PLC
Legal Entity Identifier	213800B9YWXL3X1VMZ69
NAV Details	As at close of business on 29 February 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 121.3p and the net asset value per share with debt marked at fair value was 124.0p. As at close of business on 29 February 2024, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 120.7p and the net asset value per share with debt marked at fair value was 123.4p. The current estimated fair value of the Company's GBP denominated unsecured loan notes is based on a discount rate calculated using the yield of a UK Gilt of a similar maturity plus a credit spread. The current estimated fair value of the Company's Euro denominated unsecured loan notes is based on a discount rate calculated using the yield of a Euro Swap of similar maturity plus a credit spread.
For further information, please call:	Wendy King Janus Henderson Investors Telephone: [phone]

Trust Name	HENDERSON INTERNATIONAL INCOME TRUST PLC
Legal Entity Identifier	2138006N35XWGK2YUK38
NAV Details	As at close of business on 29 February 2024, the unaudited net asset value per ordinary share calculated in accordance with the AIC formula (including current financial year revenue items) was 180.7p and the net asset value per share with debt marked at fair value was 183.2p. As at the close of business on 29 February 2024, the unaudited net asset value per ordinary share (excluding current financial year revenue items) was 180.7p and the net asset value per share with debt marked at fair value was 183.2p.
For further information, please call:	Wendy King Janus Henderson Investors Telephone: [phone]

Trust Name	HENDERSON OPPORTUNITIES TRUST PLC
Legal Entity Identifier	2138005D884NPGHFQS77
NAV Details	As at close of business on 29 February 2024, the unaudited net asset value per ordinary share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 1129.2p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value. As at close of business on 29 February 2024, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 1124.6p.
For further information, please call:	Wendy King Janus Henderson Investors Telephone: [phone]

Trust Name	HENDERSON HIGH INCOME TRUST PLC
Legal Entity Identifier	213800OEXAGFSF7Y6G11
NAV Details	As at close of business on 29 February 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 165.6p and the net asset value per share with debt marked at fair value was 166.8p. As at close of business on 29 February 2024, the unaudited net asset value per share (excluding current financial year revenue items) was 164.5p and the net asset value per share with debt marked at fair value was 165.8p. Debt marked at fair value is the Company's estimate of the "fair value" of its senior unsecured notes. The current estimated fair value of the Company's senior unsecured notes is based on a discount rate calculated using the redemption yield of the relevant existing UK Gilt plus a credit spread determined by the month-end difference in redemption yields between the ICE BofAML 10-15 Year A Sterling Non-Gilt Index and the ICE BofAML 10-15 Year UK Gilt Index. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs.
For further information, please call:	Wendy King Janus Henderson Investors Telephone: [phone]

Trust Name	THE CITY OF LONDON INVESTMENT TRUST PLC
Legal Entity Identifier	213800F3NOTF47H6AO55
NAV Details	As at close of business on 29 February 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 393.5p and the net asset value per share with debt marked at fair value was 398.8p. As at close of business on 29 February 2024, the unaudited net asset value per share (excluding current financial year revenue items) was 392.9p and the net asset value per share with debt marked at fair value was 398.2p. Debt marked at fair value is the Company's estimate of the "fair value" of its senior secured notes. The current estimated fair value of the Company's senior secured notes is based on a discount rate calculated using the redemption yield of the relevant existing UK Gilt plus a credit spread determined by the month-end difference in redemption yields between the  ICE BofAML 5-10 Year A Sterling Non-Gilt Index and the ICE BofAML 5-10 Year UK Gilt Index for the 4.53% senior secured 2029 notes, and the spread between the redemption yield of the ICE BofAML 15+ Year A Sterling Non-Gilt Index and the ICE BofAML 15+ Year UK Gilt Index for the 2.67% senior secured 2046 notes and the 2.94% senior secured 2049 notes. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs. In addition, evidence of issues in the private placement market may be taken into consideration where spreads significantly diverge from those in the public market.
For further information, please call:	Wendy King Janus Henderson Investors Telephone: [phone]

Trust Name	THE EUROPEAN SMALLER COMPANIES TRUST PLC
Legal Entity Identifier	213800N1B1HCQG2W4V90
NAV Details	As at close of business on 29 February 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 187.8p. As at close of business on 29 February 2024, the unaudited net asset value per share (excluding current financial year revenue items) was 186.4p.
For further information, please call	Wendy King Janus Henderson Investors Telephone: [phone]

Trust Name	THE HENDERSON SMALLER COMPANIES INVESTMENT TRUST PLC
Legal Entity Identifier	213800NE2NCQ67M2M998
NAV Details	As at close of business on 29 February 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 877.7p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value. As at close of business on 29 February 2024, the unaudited net asset value per share (excluding current financial year revenue items) was 865.7p.
For further information, please call:	Wendy King Janus Henderson Investors Telephone: [phone]

 

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