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Henderson closes currency arm

Henderson is closing its global currency offering.

The firm is closing its £36.7m Henderson horizon global currency fund, a Luxembourg-domiciled Ucits III. It will also close its global currency hedge strategy and various managed accounts..

The five strong team, which includes head of currency Bob Arends are all leaving the firm as a result of the decision to close the offering. The team, which is based in Amsterdam, were hired from Fortis Bank in January 2009. The offering will close on October 31.

Other members of the team include senior portfolio managers Dennis van den Bosch and Bernd Kraan and portfolio managers Jill Rootsaert and Brieuc de Hults.

A spokesman for Henderson says: “We have decided to close our quantitative currency strategy.  We arrived at this decision in conjunction with the team after a thorough consideration. The Henderson global currency fund Ucits III sicav and Henderson horizon global currency fund will be liquidated and cash will be returned to shareholders.”

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