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Henderson set to launch absolute return fund

Henderson Global Investors is to launch an absolute return fixed income offering early next month.

The fund will be run by Daniel Beharall and is a mirror of an offshore fund.

The absolute return fixed income Oeic will adopt a multi-strategy approach and will hold 70 to 100 stocks with the ability to long and short. The fund will look to generate alpha from interest rates, emerging market debt, currency and credit.

The total return fund will look to produce returns of Libor plus 250 basis points.

Henderson says the fund completes its multi-strategy fixed income offering.

Beharall has been in the industry for 14 years and heads up an eight-strong team of fixed income specialists. He has also managed the global fixed income absolute return fund since January 2003.

He says: “Investors who are looking for cash plus returns, but still have a fairly low risk approach, are increasingly seeking absolute return products. The decision to launch an Oeic version of the fund is due to the popularity of the offshore product. The sophisticated Ucits III structure allows us to take positive or negative views on markets, regions, sectors, and individual securities.”

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