Henderson looks to raise £25m for Pattullo's Diversified Income

Henderson is testing the water for a C-share issue to raise additional capital for John Pattullo's Diversified Income trust.

The group said it would look to target a minimum of £25m if it goes ahead with the proposal, which would swell the trust’s £84m asset base. James de Sausmarez, director and head of investment trusts at Henderson, said the trust’s strong performance over the past year, combined with the 4.1% premium, has prompted the board to consider raising additional capital. He added with 60% of the portfolio investing in secured loans linked to the interbank lending rate, the trust is set to prosper when interest rates rise. The remaining 40% of the trust comprises high yield and investment gra...