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Henderson in court battle with infrastructure fund investors

Henderson Global Investors says it will “vigorously defend” itself in the courts after it was served with legal proceedings by investors in one of its infrastructure funds.

The “majority” of investors in the Henderson PFI Secondary Fund II have sought action over “alleged breach of mandate and misrepresentation”.

Two subsidiaries, Henderson Equity Partners (GP) Limited and Henderson Equity Partners Limited, were served by investors.

In a market statement the asset manager says: “All the claimants are sophisticated investors. We have considered these complaints carefully. We are confident we have no legal liability to investors in this fund.”

Issues were first raised in the 2010 half-year report, when Henderson was first threatened with litigation.

At the time, the asset manager itself claimed performance since inception had been “below expectations”.


NAPF wants 2017 auto-enrol review postponed

The National Association of Pension Funds is calling for a delay to the 2017 review of auto-enrolment, following the Government’s decision to postpone the extension of the scheme for small businesses. Any employer that is expecting to auto-enrol their staff after July 2013 could see their staging date pushed back. This could include businesses with […]


Adviser anger over Axa annuity commission share offer

An adviser has hit out at Axa Wealth for contacting his client directly with a quote for a Legal & General annuity and offering to share the 2.5 per cent commission with the adviser if the client buys the plan. On November 24, Axa Wealth sent a wake-up pack to IFG consultant Nigel Stratton’s client, […]

FSCS levy refunds delayed due to incomplete resubmissions

The Financial Services Compensation Scheme’s review of refunds for firms that were overcharged for the interim FSCS levy has been delayed and will now run into next year. It had hoped to issue all refunds by the end of December. The collapse of Keydata triggered a £326m interim industry levy in January, with advisers paying […]

House prices down 1% year-on-year in November

House prices fell 1 per cent on an annual basis in November, according to the latest house price index from Halifax. Prices fell 0.6 per cent in the three months to November and fell 0.9 per cent between October and November. The average house price is now stands at £161,731. Halifax housing economist Martin Ellis […]

A tough start for 2017 consensus trades

By Kacper Brzezniak Every year, starting around November, investment banks (and fund managers) begin to drip out their outlooks for currencies, rates, economies, you name it, for the following year. The consensus has been largely wrong for the past four or five years; those multiple rate hikes never came, the bond market is still alive […]


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