Henderson Investors is putting a discount on its Asian Enterprise unit trust. The £94m fund, manage...
Henderson Investors is putting a discount on its Asian Enterprise unit trust.
The £94m fund, managed by Heather Manners, has a defensive stance on the region. Until the end of July the group is putting a 1% discount on the 5.25% front end charge on the fund. Intermediaries will still receive 3% initial commission and 0.5% renewal, the annual charge is 1.5%.
The offer is open to lump sum investments from a minimum of £2,000. Hendersons is also offering a 1% discount on its Global Technology unit trust until the end of August.
Earlier in the year Manners took the view that many technology, media and telecom stocks were overvalued and she anticipated a correction.
She took some profits, went overweight in Australia and decided to hold 10% of the portfolio in cash. In addition exposure to property and financials was increased.
The defensive position is only temporary but any move to a more growth oriented portfolio will only be made once market volatility reduces.
The prime cause of volatility in the market at the moment is due to the uncertainty regarding US interest rates. The group expects any rises to take place in the next three months, as the Federal Reserve has a tendency not to increase rates in the run up for a Presidential election, according to Hendersons.