Distribution and Cautious merge at Henderson
The head of UK retail at Henderson said the £277m Managed Distribution fund and the £817m Cautious Managed fund have been combined after shareholder approval, and will be run under the Cautious Managed fund name.
Mr Hillenbrand said: “Our stated objective to clients in the ongoing rationalisation of our fund range is to provide greater clarity and focus, while removing complexity and duplication. Having consulted with clients and shareholders, this merger has met with their approval.”
As a result, fixed income managers John Pattullo and Jenna Barnard have joined Chris Burvill as co-managers of the fund. Mr Burvill will lead the construction of the equity component and continue to oversee the strategic asset allocation. Both funds sat within the Investment Management Association’s Mixed Investment 20 per cent to 60 per cent Shares sectors and have the same investment objective of aiming to provide income and long-term capital growth through a diversified portfolio.
Mr Burvill, who was previously at Gartmore before Henderson bought the company and transferred the staff and assets in April 2011, has been running mixed asset investment and cautious managed funds for almost two decades. He has managed the Henderson Cautious Managed fund since its inception in 2003 and the Managed Distribution fund since joining Henderson in April 2011.