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Star manager sues Henderson in High Court battle over pay


Former Henderson Global Investors head of European equities Richard Pease is suing the fund group over a disputed £2.7m.

The Sunday Times reports that Pease, who ran the flagship £1.1bn European Special Situations fund for Henderson, has lodged a claim at the High Court that Henderson breached the terms of his contract by withholding payments when he left the company.

Pease left in October 2014 to set up boutique firm Crux Asset Management, taking the European Special Situations fund with him.

He claims Henderson “failed and refused” to pay him £2.7m earned between 2012 and 2014.

Pease was entitled to half the management fees by investors. The Sunday Times cites court papers which show Pease earned almost £14m between 2009 and 2015.

Pease did not reply to a request to comment from the newspaper, while Henderson declined to comment.



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  1. Its hard not to make this sound like sour grapes or just plain envy on my part – which it probably is, but its good work if you can get it being a star fund manager. I’ve just been on FE Analytics to see how much of a star Mr Pease is (or was in the time period mentioned) and looked at the three years in question. From January 2012 to December 2014 the FP CRUX European Special Situations Fund gained 55.86% or 15.94%pa. Very impressive. But hang on, the MSCI AC Europe SMID Value Index (closest index I could find to match European Special Sits) made 62.71% or 17.62%pa. So lagging behind an index for three years to the tune of 6.85% or 1.68%pa makes you a star fund manager. And based on the figures quoted in the article worth around £2m pa in wages. Luvly jubly. And if you are reading this Richard, it is nothing personal against you – well done to you for securing such an amazing package. It’s just that the system feels so wrong when so many fund managers can earn so very much for not generating much, if any, true alpha!

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