Henderson to soft close UK Absolute Return
Henderson Global Investors is to soft close its UK Absolute Return fund and Gartmore UK Absolute Return Sicav.
The £368m Oeic and the £325.9m Sicav are both managed by Ben Wallace and Luke Newman and are part of a strategy, including hedge funds and managed accounts, which is nearing its $2bn (£1.2bn) limit set in 2005.
The company said the move was being made to protect the interests of existing investors and seek to avoid potential performance dilution.
Simon Hillenbrand, head of UK retail, said: “The funds have demonstrated they are capable of delivering positive returns despite challenging market conditions.
“However, 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.”