View more on these topics

Henderson to soft close UK absolute returns funds

Henderson Global Investors is to soft close its two UK absolute return funds at the end of next month.

The £368m Henderson UK absolute return open-ended fund and the £325.93m Henderson Gartmore UK absolute return Sicav, will both close on November 30, 2011.

Both funds are managed by Ben Wallace and Luke Newman. The firm said they have had to close the funds due to substantial net inflows. It added that the move is being made in order to protect the interests of existing investors and to seek to avoid potential performance dilution.
From soft-close, no concessionary terms will be available to new investments into the funds and the full 5 per cent initial charge will apply to such new investments. Existing regular savers will not be affected by the move. The firm has ceased marketing the strategy to new investors.   
At the inception of the strategy in 2005 the capacity was set at around $2bn to ensure the managers were able to invest only in opportunities that directly fitted the strategy’s investment objective to provide a positive return over the long term whether markets go up or down.The firm said this target is in sight and subsequently have decided to soft-close the funds.


‘FCA too focused on perception rather than fact’

Sir John Vickers says the Financial Conduct Authority’s objective of ensuring confidence in markets is too focused on perception rather than fact. Under current proposals, the FCA’s primary objective is to protect and enhance confidence in the UK financial system. Giving evidence to the joint committee on the draft Financial Services Bill last week, Vickers, […]

Fundquest looks for combination

Multi-manager firm Fundquest says running its select range is not about picking the best manager for a particular sector but finding a combination of managers that can provide a balance between risk and return. The company tends to buy and hold funds in the select and select cautious funds for the medium to long term […]


Ernst & Young warns Nest could fail as rivals cherrypick employers

Ernst & Young has warned that Nest could fail if rival providers cherrypick the most profitable employers. An E&Y report, entitled, Brave New World? A New Era in Life, Pensions and Investments, suggests that competition from European rivals and existing UK group personal pension providers means the long-term viability of Nest remains uncertain. It says: […]


Tribunal rules self-employed IFA has employed status

An employment tribunal has ruled that a self-employed IFA should be considered an employee in a move that could add huge liabilities to firms offering a self-employed model. A Southampton employment tribunal heard the case of Johnson-Caswell v MJB (Partnership), with Johnson-Caswell, an IFA, bringing complaints for unfair dismissal, unpaid wages and breach of contract […]


Almost nine in 10 employers admit failings with post-DRA compliance

The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.


News and expert analysis straight to your inbox

Sign up


    Leave a comment