Henderson Global Investors is to soft close two of its Ucits effective from 30 November 2011 having almost reached capacity.
Henderson Global Investors is to soft close two of its Ucits effective from 30 November 2011 having almost reached capacity. The two funds are the Henderson UK Absolute Return OEIC and the Henderson Gartmore UK Absolute Return SICAV, both of which are managed by Ben Wallace (pictured) and Luke Newman. The decision has been taken, according to Henderson’s official press release, so as to protect the interests of existing investors and try to avoid “potential performance dilution”. The ability for both funds to deliver performance in line with investment objectives during recent market turbulence has apparently led to substantial net inflows from investors. When the strategy launched in 2005 capacity was set at USD2billion. Both funds are now close to reaching that ceiling and subsequently Henderson has ceased marketing the strategy to new retail investors. Henderson head of UK retail, Simon Hillenbrand, said: “As the funds have grown in size we are mindful that there are certain capacity constraints. Therefore, in order to ensure the strategy remains nimble and to protect the interests of existing investors and future performance we have taken the decision to ‘soft close’.”
