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Henderson asks unit holders for approval to merge funds

Henderson Investors is seeking unit holder approval to rationalise part of its UK growth and UK income fund ranges.

It also wants to change the investment objectives of Henderson Pacific Smaller Companies and the Henderson American Smaller Companies funds.

If the changes are approved, Henderson will merge Henderson Extra Income into Henderson High Income and rename the fund Henderson UK Equity Income Fund.

The resulting fund will have an altered objective, focusing on producing a high yield but with some capital growth, rather than rising income at the expense of capital.


CML welcomes base rate cut

The Council of Mortgage Lenders has welcomed the Bank of England&#39s Monetary Policy Committee&#39s decision to cut interests by a quarter per cent.Director general Michael Coogan says: &#34Once again the base rate cut is welcome. It will help reassure mortgage borrowers at a time when other economic data is less positive.&#34Mortgage rates have the capacity […]

PIA expels IFA firm

The PIA is expelling Bhayani Insurance Brokers of Middlesex from membership and fining N W Brown & Company of Cambridge £4,000 over pension review failings.It says it is taking disciplinary action against both firms because they have failed to take all reasonable steps to meet the December 1997 deadline to complete 90 per cent of […]


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