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Webster not joining Henderson, Dossett agrees terms

New Star international property fund manager and head of global property Stuart Webster will not be joining Henderson at the conclusion of the merger.

Webster is to remain as an adviser on the fund in the short term, however the firm has confirmed that New Star chief executive for property Roger Dossett will be joining the group.

Dossett will join the firm’s 180-strong team, and Money Marketing understands that director of UK property Marcus Langlands Pearse will also be joining the firm.

Dossett says: “Henderson justifiably has a very strong reputation in Global property fund management. I look forward to working with the team and capitalising on their expertise and experience from across their network of international offices.

“The strength of the Funds is their secure long term income, generated through investing in prime commercial property. Our priority working with the enhanced team is to maintain a quality income stream and position the funds to best meet the demands of current economic conditions.”

Webster says: “I believe that the acquisition of New Star by Henderson is the ideal opportunity to stabilise and relaunch the IPF. The fund is already delivering a high tax efficient yield relative to current interest rates and its investments are well set for recovery. However it needs the bigger, more stable platform that Henderson offers. The unique nature of this fund together with the truly global reach of Henderson makes this an ideal partnership to benefit investors.”

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