Henderson changes name and benchmark of Japan fund

Henderson changes name and benchmark of Japan fund

Henderson is altering the name and benchmark of its Japan Capital Growth fund to better reflect its team approach.

The £40m fund will be renamed Japan Opportunities on April 1. On the same day, the bencmark of the fund will change from the MSCI Japan index to the Tokyo Stock Exchange First Section index (TOPIX).

The changes are being made as a result of the management changes in October 2014 when it became a team-run fund.

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The team approach should “see the fund increase its expsoure to medium and smaller-sized companies” a letter from Henderson to its investors said.

The fund was managed solely by Michael Wood-Martin from 2005 until October 2014. Then Henderson adopted a team approach and it is now run by Mr Wood-Martin along with William Garnett, Jeremy Hall and Yun-Young Lee.

Since this change, Morningstar has downgraded the fund to neutral as it has “less clariy around the likely shape of the portfolio an dlittle evidence that the strategy can be implemented effectively”.