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More fund mergers in line at Henderson

Henderson New Star director of retail business development Stewart Cazier says the firm could close or merge up to 10 funds next year.

Cazier says following the takeover of New Star, there are still a number of clear crossovers in the retail fund range that need addressing.

Henderson New Star currently has a total of 61 funds in its retail range but rationalisation could be difficult due to the costs and time involved as Henderson and New Star presently operate on different administration platforms.

The firm is looking to have all funds under the IFDS administration platform by the end of the first quarter next year.

Cazier says: “You can see the areas where we have an abundance of funds, such as multi-manager, where the group has a combined range of 11.”

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