Henderson is to merge away a trio of Gartmore multi-manager funds and is re-shuffling the managers across its range.
Henderson is merging away the Gartmore multi-manager active, balanced and cautious funds on August 12, 2011. The Gartmore active fund will be merged into the Henderson active fund, balanced will be merged into the Henderson managed fund and the multi-manager cautious fund will be merged into the multi-manager income and growth fund.
The mergers will result in a five-strong range for the asset manager. The multi-manager income and growth and distribution funds will be managed by Bill McQuaker and Chris Forgan; the multi-manager managed fund will be run by McQuaker and Tony Lanning, while the active fund will be managed by McQuaker and Helen Bradshaw.
The Gartmore multi-manager absolute return fund will be retained under the management of Tony Lanning and Paul Craig.
The mergers are the second made by Henderson this year, having made a raft in February 2011 when Mark Harris and Craig Heron left the asset manager.
The fund range continues under the management of Bill McQuaker, who is also deputy head of equities.
He says: “We have always adopted a cohesive approach to managing money within the multi-manager team. Helen and Chris have played an instrumental role in the development of the funds over the last five years, and it is, therefore, appropriate they play a more active role as co-managers. I am a firm believer that there is no ‘I’ in team and these changes cement this view.”
“With the addition of Tony and the Gartmore multi-manager absolute return fund, Henderson now has a compelling offering for our clients. The proposed mergers of the; active, balanced and cautious Gartmore funds, further streamlines our fund range and leaves us with a clear proposition across the risk spectrum.”