After 17 years at Henderson, heading the global property equities team since 2004, and after 34 years in the property industry, Patrick Sumner will be retiring from Henderson Global Investors at the end of June this year.
He was instrumental in starting the European, Asian and Global strategies, which today amount to more than US$2.7 billion.
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Guy Barnard and Tim Gibson will take over as co-heads of Global Property Equities. Guy is based in London and has been co-manager of the US$1.2 billion Henderson Horizon Global Property Equities Fund since November 2008 and manager of the US$600 million Henderson Horizon Pan European Property Equities Fund since September 2010.
Tim is based in Singapore and manages the US$350 million Henderson Horizon Asia Pacific Property Equities Fund. Tim will join Guy as co-manager of the Henderson Horizon Global Property Equities Fund. In addition, Guy and Tim will continue to manage other regional and global funds.
At the same time the team has been strengthened with the two appointments, one to be based in London and one in Singapore. Nicolas Scherf will join in London as portfolio manager, where he will take on responsibility for certain European portfolios and will assist in the running of the Henderson Horizon Pan European Property Equities Fund. Nicolas joins from Cohen & Steers Capital Management where he spent over 6 years as a property securities investment analyst. Xin Yan Low will join as an analyst on the property equities team in Singapore.
She spent the last six years at Bank of America Merrill Lynch as an equity research analyst covering Asia property equities. She will work with Tim Gibson and alongside existing analyst Yan Ling Wong on the Henderson Horizon Asia Pacific Property Equities Fund and on the Asian portions of other property equity portfolios. Both will start in the 2nd quarter of this year.
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By GlobalDataPatrick Sumner said: "Having been at Henderson for 17 years, launched and grown our global property equities franchise and seen it through a full and, at times, turbulent cycle, it is time to hand over to the next generation. We have a very talented team, including our associates Harrison Street in Chicago, that I am sure will take the business to new heights. Our new hires will ensure continuity of performance and client service. For myself, this is an opportunity, before it is too late, to fulfil some long-held personal ambitions."
Guy Barnard said: "Tim and I will inherit a strong franchise, with Henderson well known for its global property equities capabilities. It is testament to this that we have been able to attract high calibre people in Nicolas and Xin Yan. Both will join before Patrick steps back from day to day running of the team to ensure that all our clients benefit from continuity in the transition of leadership."
Guy joined Henderson Global Investors in 2006 as an analyst with the Property Equities team. He subsequently became a Fund Manager in 2008 and deputy head of Global Property Equities in 2012. The Horizon Pan European Property Equity fund ranks top of its peer group over a 1, 3 and 5 year period.
