Composition of Dividend Payment
April 2017
Key investment risks to be considered before investing

Henderson Horizon Fund, as an umbrella fund, has within it different sub funds investing primarily in equities or
debt securities, each with different risk profiles.

Some sub-funds have the ability to use financial derivatives instruments ("FDIs") to achieve the sub-funds’
investment objectives and policies or extensively for investment purposes with a view to enhancing their
performance. Such investments are subject to significant risk including liquidity risk and counter-party default risk.
Together with the leverage effect embedded in FDIs you may lose your entire investment in such sub-funds.

Some sub-funds may invest in a single market / sector (e.g. smaller companies) and may subject the sub-fund to
higher concentration risk than sub-funds following a more diversified policy.

Some sub-funds may invest in emerging markets which may be subject to higher risk of economic, political and
regulatory changes. These investments may be less liquid and more volatile than investments in developed
markets.

Some sub-funds may take short positions through the use of FDIs in some securities. Should the value of such
securities increase, it will have a negative effect in the sub-fund's value. You may lose your entire investment in
such sub-funds.

In respect of Distribution Shares, the directors of the Fund may at its discretion pay dividend out of gross income
while charging/ paying all or part of the sub-fund’s fees and expenses to/out of the capital of the sub-fund, resulting
in an increase in distributable income for the payment of dividends by the sub-fund and therefore, the sub-fund
may effectively pay dividend out of capital.

Payment of dividends out of capital amounts to a return or withdrawal of part of an investor’s original investment or
from any capital gains attributable to that original investment. Any distributions involving payment of dividends out
of the sub-fund’s capital or payment of dividends effectively out of the sub-fund’s capital (as the case may be) may
result in an immediate reduction of the net asset value per share.
Note: Investors should not only base on marketing material alone to make investment decisions. Investors are advised
to read the Prospectus, Hong Kong Covering Document and Key Facts Statement of the Fund for more details of
the investment risks.
Henderson Horizon Fund – Asian Dividend Income Fund* – Class A3 USD
(Distribution shares):
For the quarter
ending
Dividend per share
Dividend paid out of net
distributable income for
the period
Dividend paid out of
capital
December 2012
March 2013
June 2013
USD 0.0783
100%
0%
USD 0.1420
USD 0.2163
100%
100%
0%
0%
September 2013
USD 0.2331
100%
0%
December 2013
USD 0.0730
100%
0%
March 2014
USD 0.1523
100%
0%
June 2014
September 2014
December 2014
March 2015
June 2015
September 2015
December 2015
March 2016
June 2016
September 2016
December 2016
March 2017
USD 0.2146
USD 0.2447
USD 0.0872
USD 0.1326
USD 0.2075
USD 0.2835
USD 0.0749
USD 0.1425
USD 0.2430
USD 0.1829
USD 0.0817
USD 0.1254
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
98%
96%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
2%
4%
*Please note that with effect from 1st November 2015, share class A1 will be renamed to share class A3 for Henderson
Horizon Asian Dividend Income Fund and Henderson Horizon Global Equity Income Fund
Composition of Dividend Payment (continued)
Henderson Horizon Fund – Asian Dividend Income Fund* – Class A3 EUR (Distribution shares):
For the quarter ending
Dividend per share
December 2012
March 2013
June 2013
September 2013
December 2013
March 2014
June 2014
September 2014
December 2014
March 2015
June 2015
September 2015
December 2015
March 2016
June 2016
September 2016
December 2016
March 2017
EUR 0.0596
EUR 0.1115
EUR 0.1654
EUR 0.1727
EUR 0.0560
EUR 0.1088
EUR 0.1571
EUR 0.1945
EUR 0.0718
EUR 0.1237
EUR 0.1855
EUR 0.2523
EUR 0.0685
EUR 0.1249
EUR 0.2154
EUR 0.1633
EUR 0.0766
EUR 0.1167
Dividend paid out of net
distributable income for the
period
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
98%
98%
87%
98%
100%
Dividend paid out of capital
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
2%
2%
13%
2%
0%
Henderson Horizon Fund – Asian Dividend Income Fund* – Class A3 SGD (Distribution shares):
For the quarter ending
Dividend per share
December 2012
March 2013
June 2013
September 2013
December 2013
March 2014
June 2014
September 2014
December 2014
March 2015
June 2015
September 2015
December 2015
March 2016
June 2016
September 2016
December 2016
March 2017
SGD 0.0956
SGD 0.1770
SGD 0.2740
SGD 0.2927
SGD 0.0918
SGD 0.1930
SGD 0.2674
SGD 0.3125
SGD 0.1140
SGD 0.1833
SGD 0.2786
SGD 0.4030
SGD 0.1056
SGD 0.1915
SGD 0.3265
SGD 0.2495
SGD 0.1180
SGD 0.1752
Dividend paid out of net
distributable income for the
period
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
98%
100%
100%
Dividend paid out of capital
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
2%
0%
0%
Henderson Horizon Fund – Asia Pacific Property Equities Fund – Class A1 USD (Distribution shares):
For the quarter ending
Dividend per share
September 2013
September 2014
June 2015
June 2016
USD 0.1360
USD 0.2129
USD 0.1554
USD 0.1095
Dividend paid out of net
distributable income for the
period
100%
100%
100%
100%
Dividend paid out of capital
0%
0%
0%
0%
Henderson Horizon Fund – China Fund – Class A1 USD (Distribution shares):
For the quarter ending
Dividend per share
September 2013
September 2014
June 2015
June 2016
Nil
USD 0.0298
Nil
Nil
Dividend paid out of net
distributable income for the
period
N/A
100%
N/A
N/A
Dividend paid out of capital
N/A
0%
N/A
N/A
*Please note that with effect from 1st November 2015, share class A1 will be renamed to share class A3 for Henderson Horizon Asian Dividend Income
Fund and Henderson Horizon Global Equity Income Fund
Composition of Dividend Payment (continued)
Henderson Horizon Fund – Euro Corporate Bond Fund – Class A1 EUR (Distribution shares):
For the quarter ending
Dividend per share
September 2013
September 2014
June 2015
June 2016
EUR 3.3102
EUR 3.4185
EUR 2.6052
EUR 1.7082
Dividend paid out of net
distributable income for the
period
100%
100%
73%
100%
Dividend paid out of capital
0%
0%
27%
0%
Henderson Horizon Fund – Euro Corporate Bond Fund – Class A1 HGBP (Distribution shares):
For the quarter ending
Dividend per share
September 2013
September 2014
June 2015
June 2016
GBP 3.1703
GBP 2.9827
GBP 2.5855
GBP 1.5953
Dividend paid out of net
distributable income for the
period
100%
100%
100%
100%
Dividend paid out of capital
0%
0%
0%
0%
Henderson Horizon Fund – Global Equity Income Fund* – Class A3 USD (Distribution shares):
For the quarter ending
Dividend per share
September 2015
December 2015
March 2016
June 2016
September 2016
December 2016
March 2017
USD 0.6217
USD 0.4771
USD 0.6173
USD 1.4790
USD 0.5615
USD 0.4490
USD 0.6714
Dividend paid out of net
distributable income for the
period
100%
90%
100%
99%
100%
99%
100%
Dividend paid out of capital
0%
10%
0%
1%
0%
1%
0%
Henderson Horizon Fund – Global Property Equities Fund – Class A1 USD (Distribution shares):
For the quarter ending
Dividend per share
September 2013
September 2014
June 2015
June 2016
USD 0.1677
USD 0.2022
USD 0.2038
USD 0.1690
Dividend paid out of net
distributable income for the
period
100%
100%
100%
100%
Dividend paid out of capital
0%
0%
0%
0%
Henderson Horizon Fund – Global Technology Fund – Class A1 USD (Distribution shares):
For the quarter ending
Dividend per share
September 2013
September 2014
June 2015
June 2016
Nil
Nil
Nil
Nil
Dividend paid out of net
distributable income for the
period
N/A
N/A
N/A
N/A
Dividend paid out of capital
N/A
N/A
N/A
N/A
Henderson Horizon Fund – Pan European Property Equities Fund – Class A1 EUR (Distribution
shares):
For the quarter ending
Dividend per share
September 2013
September 2014
June 2015
June 2016
EUR 0.4068
EUR 0.2951
EUR 0.3590
EUR 0.3886
Dividend paid out of net
distributable income for the
period
100%
100%
95%
100%
Dividend paid out of capital
*Please note that with effect from 1st November 2015, share class A1 will be renamed to share class A3 for Henderson Horizon Asian Dividend Income
Fund and Henderson Horizon Global Equity Income Fund
0%
0%
5%
0%
Composition of Dividend Payment (continued)
Henderson Horizon Fund – Pan European Equity Fund – Class A1 EUR (Distribution shares):
For the quarter ending
Dividend per share
September 2013
September 2014
June 2015
June 2016
EUR 0.1598
EUR 0.1965
EUR 0.1939
EUR 0.2185
Dividend paid out of net
distributable income for the
period
100%
100%
100%
100%
Dividend paid out of capital
0%
0%
0%
0%
Henderson Horizon Fund – Pan European Alpha Fund – Class A1 EUR (Distribution shares):
For the quarter ending
Dividend per share
September 2013
September 2014
June 2015
June 2016
Nil
Nil
Nil
Nil
Dividend paid out of net
distributable income for the
period
N/A
N/A
N/A
N/A
Dividend paid out of capital
N/A
N/A
N/A
N/A
Warning:
 Please note that a positive distribution yield does not imply a positive return. Investors should not make any investment decision solely based on
information contained in the table above. You should read the relevant offering document (including the key facts statement) of the Sub-Fund for further
details including the risk factors.
 Intended quarterly dividend distribution by the Fund and its derived yield are not guaranteed and are subject to change without any prior notice. Past
dividend distribution is not necessarily indicative of future or likely distribution.
Important notes
Basis of calculating the “net distributable income”: Net distributable income for the period attributable to each Sub-Fund is the income (ie dividend income
and interest income) less fees and expenses paid out of capital and income. Net unrealised gains are excluded from the computation of net distributable
income.
Henderson Global Investors (Hong Kong) Ltd
General enquiries: + 852 2905 5188
Important Information
Henderson Global Investors (Hong Kong) Limited and its affiliates are referred to herein as Henderson Global Investors. This document has been produced
based on Henderson Global Investors' research and analysis and represents our house view. All the information contained in the document is intended for
information, illustration or discussion purposes only and should not be relied on for any investment decisions or regarded as a substitute for the exercise of
your own judgement. The information contained in the document has not been reviewed by the SFC.
The contents of this document are prepared without consideration to the specific investment objective, financial situation and particular needs of any
specific person. It does not constitute an advertisement and should not constitute or form part of any offer or solicitation to issue, sell, subscribe or
purchase any investment in any jurisdiction and do not purport to represent or warrant the outcome of any investment strategy, program or product. Any
information and views provided herein is subject to change without further notice. None of the material, nor its content, nor any copy of it, maybe altered in
any way, transmitted to, copied or distributed to any other party, without prior express written permission of Henderson Global Investors. The information
contained herein is obtained and / or compiled from sources believed to be reliable and current and Henderson Global Investors do not warrant, guarantee
or represent, either expressly or impliedly, the accuracy, validity or completeness of such information. Henderson Global Investors or any directors or
employees of Henderson Global Investors shall not be liable for any damages arising from any person’s reliance on this information and shall not be liable
for any errors or omissions (including but not limited to errors or omissions made by third party sources) in this information. Unless otherwise indicated, the
source for all data is Henderson Global Investors.
Past performance of any fund, a security, an investment or manager and any opinions, forecasts, assumptions, estimates or valuations made are not
necessarily indicative of the future or likely performance of the fund, the security, investment or manager. An investment in collective schemes/funds,
and/or other investment products is subject to investment risks, including the possible loss of the principal amount invested. The value of the units and the
income from the funds may fall as well as rise as a result of market and currency fluctuations. Investments in and the rate of return for the Fund are not
obligations of, deposits in, guaranteed or insured by Henderson Global Investors or any of its affiliates or appointed distributors.
Before investing, please refer to the Prospectus, Hong Kong Covering Document and Key Facts Statement of the fund for more details of investment risks.
If there is any doubt, investors should seek independent advice and consult their stockbroker, bank manager, solicitor, accountant or other financial
adviser.