Henderson hikes TERs on 14 Gartmore funds

Henderson has increased the TERs on 14 Gartmore funds it retained following the takeover of the group in March.

As part of the change, the group will up the TERs on John Bennett's £1.5bn European Selected Opportunities fund and Charlie Awdry's £746m China Opportunities portfolio on 11 July when the funds adopt the Henderson name.

Both TERs will increase by 11 basis points from 1.67% to 1.78%.

Gartmore Global Focus, UK & Irish Smaller Companies, UK Index, US Growth and US Opportunities will also see their TERs rise by 11bp.

Other funds seeing rises include the Gartmore Cautious Managed fund, run by Chris Burvill, (from 1.41% to 1.53%), and the Emerging Markets Opportunities (from 1.72% to 1.78%), European Focus (from 1.47% to 1.53%), UK Tracker (from 1.2% to 1.28%), MultiManager Absolute Return (from 2.41% to 2.42%), Japan Absolute Return (from 3.38% to 3.48%) and UK Absolute Return funds(from 3.35% to 3.48%).

The firm said the move would bring the charges into line with the Henderson fund range following the integration of the two groups' client service administration systems.