Henderson plans global high-yield fund launch

Strategy

John pattullo to run fund with ability to switch between broad range of instruments

Henderson Global Investors is to broaden the remit on its European High Yield Bond fund to invest on a global basis across a wider range of instruments. The group is currently writing to shareholders in the £47.6m fund with the proposed changes, with the aim of converting the fund in November and renaming it Strategic High Yield. Manager John Pattullo said should the change go through, the portfolio would still look to maintain a 50% exposure to Europe. Henderson does not believe there is sufficient diversification by name, industry sector or credit rating within the European market alone...