Henderson revamps International fund

Henderson Global Investors will change the name and investment objective on Matthew Beesley’s £60.4m International fund in December.

The group said it would be calling the fund Henderson World Select from December 2 and would change the investment objective to allow the manager to run a more concentrated portfolio of stocks.

“Fewer holdings mean that each individual share will have a greater impact on performance and can therefore increase potential reward,” it said.

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It added it had changed the name because International suggested the fund did not purchase stocks in its country of domicile - the UK. However, Henderson said the fund did buy UK stocks and so would change its name.

The fund has produced a second quartile return of 43.8 per cent in five years to September 6 compared to the IMA Global sector average of 39 per cent, according to FE Analytics.