Asian Growth trust review puts Henderson contract under threat

Henderson's investment management contract for its £286m Asian Growth trust is in jeopardy after the board announced it is undertaking a review of its investment management arrangements.

The company has appointed investment consultancy Mercers to hold a beauty parade in the coming months. The board will consult with the company's major shareholders over the potential change in management for the trust, which has been headed up by Henderson's Andrew Beal (pictured) since September 2005. Charles Cade, an investment trust analyst at Numis, said the trust has a mixed performance record under Beal's tenure, with the manager's focus on growth stocks suffering during periods of risk aversion. The fund has returned 10.9% over the five years to 12 October, well below the AI...