On the 3rd June 2013, Henderson Global Investors reopened its GBP164 million UK Absolute Return Fund OEIC and the GBP174 million Henderson Gartmore UK Absolute Return SICAV.
These funds are managed by both Ben Wallace and Luke Newman and have been "soft closed" since 30th November 2011. The funds’ soft closure was achieved by increasing the initial charge on new investments. This will now be removed as a function of its reopening.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Both managers have a long term track record in managing the UK long/short equity strategy, delivering alpha over various market cycles. During difficult market conditions the investment approach adopted by the team has enabled them to preserve capital.
Wallace and Newman joined Henderson following the acquisition of Gartmore in 2011. At Henderson, they can now draw on the resources provided by the 119 strong equity investment team.
Wallace, fund manager, said, "There’s no doubting demand for absolute return products is growing. Market conditions have improved, as individual stock dispersion increased. This has allowed us to successfully put more of our investors’ capital to work in both the core and tactical books within the strategy".
Newman, fund manager, added, "The past two years have continued to be turbulent for markets, but the fund has not lost money for investors. It has just delivered its 12th consecutive month of positive absolute performance.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"Given the fund’s track record, success in preserving capital in difficult environments and generating uncorrelated returns in a variety of equity market conditions, we now feel it’s appropriate to reopen it."
Darius McDermott, managing director at Chelsea Financial Services, said, "The fund was on our Core Selection buy-list prior to soft-closing, and popular amongst our clients, so we are happy that it has re-opened to investments. It is one of the consistent funds in the sector with a track record of producing positive returns, even in falling markets."
From 29th April 2009, the OEIC Henderson UK Absolute Return fund returned 24%.
