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Henderson completes revamp of hedge funds business

Henderson Global Investors has continued its revamp with the promotion of Kate O'Neill to Director of Hedge Funds and plans for new launches.

Formerly Director of Operations and Off-Shore Products, O'Neill, who also heads up Henderson's European Distribution, will take on responsibility for the development and expansion of Henderson's Hedge Fund business. The changes also see Alastair Barrie, formerly Director of Retail Sales, promoted to Director of Global Hedge Fund Sales.

"Our strategy for the Hedge Fund business is simple," says O'Neill. "We will focus on investors looking to diversify their risk allocation to high alpha returns, but at the same time to control their risk. We are actively growing this business, making use of our excellent fund managers and analysts.  With the recent new appointments in our fund management division I am confident we will fulfil our potential."

O'Neill, who reports to Henderson Managing Director, UK, Europe and Asia, Mike Clare, has also announced plans to launch three new hedge funds encompassing Currency, European Style Rotational and North American Equity Multi Strategy. This will take the total number of Hedge Funds managed by Henderson to 11.

Henderson launched its first Hedge Fund in 1999 and now has USD 1.7 billion in total assets under management. Unlike other hedge fund managers, Henderson's hedge fund business has focused on steady expansion and solid growth with a longer-term focus. Henderson stated: "While still delivering impressive returns for investors, this policy has helped deliver innovative products to clients, which showcase fund manager expertise with consistent alpha generation."

The restructuring of its hedge fund business is part of a company-wide review of all operations, which has seen the arrival of some well-known industry names.  Senior management have gone on record stating their commitment to focusing on performance of the fund management business, which last month reported 2005 first half operating profits before tax of GBP 37 million, up from GBP 28.7 million during the same period for 2004.

Henderson also boasts some of the hedge fund industry's leading names including Stephen Peak, Manager of Henderson's European Absolute Return Fund and David Elms, Head of Multi Strategy Equities.

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