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Change on hold for Henderson range

Henderson New Star head of equities and multi-manager Bill McQuaker says the firm is unlikely to look at any rationalisation of the multi-manager range until 2010.

McQuaker says the group has yet to make any decisions but says the fit of the range means there will not be many changes, if any, next year.

Following the acquisition of New Star earlier this year, the combined multi-manager range offered by the firm stands at 11.

Henderson New Star began its fund rationalisation steps recently with the news that it is to merge Graham Kitchen and Andrew Jones’ New Star equity income fund into their higher income fund.

McQuaker says he expects the rally in markets to continue for one or two more quarters and he considers that the market is now moving out of the vicious cycle that has seen confidence hurt in the past two years to a more “virtuous” one.

However, he warns there could be risks to this cycle, such as rising commodity prices and inflation.

He says: “The recovery we have seen in markets is more sustainable and we have been holding risk assets to support that as economic conditions improve.”

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