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Special sits for Pease

Henderson New Star is planning to launch a European special situations fund headed by European fund manager Richard Pease.

The fund is understood to be launching over the summer.

Pease is one of a number of leading fund managers to commit to Henderson after its takeover of New Star. His £469m European growth fund is top quartile in the IMA Europe ex UK sector over three years.

He says: “The fund will be smaller and more flexible than my European growth fund. I will look to invest in companies that I believe are fundamentally sound but which have been excessively punished due to negative market sentiment.” He says he will look to invest in the fund, having recently placed £500,000 in both his European growth fund and the high-yield bond fund run by James Gledhill.

Hargreaves Lansdown senior analyst Meera Patel says: “This could be an opportune time for special sits recovery investing.”

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