Henderson to convert Higher Income fund as it merges range of portfolios

Henderson is to convert its £568m Higher Income fund into a global equity offering, Investment Week understands, as part of a major overhaul of its fund range.

The fund - one of five the group offers in the IMA Equity Income space - is managed by Graham Kitchen and Andrew Jones. It will now be run by Ben Lofthouse and Jones, and called the Henderson Global Equity Income fund. Lofthouse and Jones' existing global income fund, the £24m Global Dividend Fund, will be merged into the new Global Equity Income fund on 20 July. Higher Income has returned 60.7% over the three years to 3 February 2012, according to Morningstar, compared with an IMA UK Equity Income sector average of 53.9%. Henderson is also converting a range of other mandates a...