Henderson’s James de Bunsen is to replace Paul Craig on the £138.6m Henderson Value investment trust following Mr Craig’s move to Old Mutual Wealth.
Mr de Bunsen will join Ian Barrass as co-manager of the trust’s portfolio, which it took on from SVM Asset Management last year.
The trust’s portfolio consists of specialist and “alternative” funds and its value has stayed broadly the same in the 13 months since Henderson took charge. However, the trust’s shares have slipped 3.8 per cent and are trading at a 17.7 per cent discount to the value of the underlying portfolio.
Henderson said in a statement that Mr Craig’s move to Old Mutual was not scheduled until the end of the year, giving “ample time for a smooth transfer of responsibilities”.
Mr de Bunsen said he wanted to turn the trust’s performance around alongside Mr Barrass.
He added: “Throughout my investment career I have always focused on alternative assets classes within a multi-asset context and I believe that [Henderson Value] is an extremely interesting investment proposition with enormous potential.”
Mr Craig also works on three open-ended Henderson funds: Henderson Diversified Alternatives, Henderson UK Strategic Income and Henderson Global Strategic Capital. A spokesperson for the fund group said the team-based approach for these funds meant Mr Craig would not be directly replaced.