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Henderson merges Distribution and Cautious funds

Henderson has merged its £277m Managed Distribution fund into the £817m Cautious Managed fund following shareholder approval.

The move will see John Pattullo and Jenna Barnard become co-managers on the fund alongside Chris Burvill.

Burvill will lead the equity construction of the portfolio as well as making asset allocation decisions.

Henderson head of UK retail Simon Hillenbrand says:“Given both funds resided within the Investment Management Association’s Mixed Investment 20-60 % Shares sectors and have the same investment objective of aiming to provide income and long-term capital growth through a diversified portfolio, it was a logical decision to merge them.”

Henderson has merged a raft of funds following its acquisitions of New Star in 2009 and Gartmore in 2011.

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