Hendersons gets downgrade

preference & bond fund marked down from aaa to A in S&P review of high income fund sector

The Henderson Preference & Bond fund has been downgraded from AAA to A in the latest review of the high income fund sector by Standard & Poor's. The research group said the reason for the downgrade was the departure of Ian Dickson, long time manager of the fund. Dresdner RCM Global Investors saw two of its funds slip from AA to A, despite the management moving to the group's sister manager Pimco, one of the US's largest fixed interest managers. As well as the downgrades for Dresdner's UK Gilt Fund and UK & European Gilt Yield funds, two of Newton's funds have been put under review with...