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Henderson to look at emerging funds

Henderson chief executive Andrew Formica says the firm is looking at emerging market equities as one of a number of potential additions to its range following the New Star deal.

Formica says the company is keen to add individual managers and teams and he highlights emerging market equities as a particular area of interest.

He says: “We would not ignore the right opportunity. It makes sense that we look to become the top player in the retail space.”

According to Henderson’s figures at the announcement of the merger in January, the combined business would become the fifth-biggest player in total retail and institutional assets.

Henderson has also confirmed the new fund manager line-up after the acquisition last week. The managers of the combined Henderson UK fund range include Richard Pease, Guy de Blonay, Nick Sheridan, James Gledhill, Roger Dossett, Mark Harris, Craig Heron, Trevor Green and Simon Rowe. They will all continue to manage the same funds they had at New Star.

The remaining New Star funds will be run by a Henderson manager in a bid to improve performance. There will be no change to management of the Henderson funds. Notable New Star departures include Tim Steer, Charles Deptford, Jamie Allsopp and Phil Roantree.

Henderson head of credit Stephen Thariyan and fund manager Philip Payne have taken on Roantree’s 316m sterling bond fund while head of European equities desk Stephen Peak will replace Artemis-bound Steer on the UK alpha fund as well as managing Allsopp’s hidden value fund.

Another notable departure from New Star is income manager Toby Thompson, whose higher-income fund passes to the Henderson pair Graham Kitchen and Andrew Jones. The pair will also manage Deptford’s UK equity income trust.


New Star Sterling Bond loses rating

Old Broad Street Research (OBSR) has removed its AAA rating from the New Star Sterling Bond fund following the recent change in management.Last week it was announced that after the completion of the merger between Henderson and New Star, Phil Roantree, the manager of the Sterling Bond fund, would not join the newly merged group. […]

Where, not what

The Miton approach that generated positive returns in our balanced managed funds in 2008 is the unconstrained management of asset allocation. We believe fervently it is where one invests, rather than what one buys that determines the absolute return of a fund.

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The FSA has banned Dorset mortgage brokers Peter and James Dean for regulatory failings, including submitting false mortgage applications and acting without authorisation.


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