Janus Henderson closes UK Strategic Income fund as assets fall to £10m

Run by multi-asset team

Janus Henderson will close its UK Strategic Income unit trust on 2 July due to concerns its assets under management (AUM), which stood at £10.8m as of 31 December 2017, meant it was "no longer viable".

In a 30 April letter to investors in the vehicle, which is managed by Janus Henderson's multi-asset team, head of client services at Martyn Bailey said: "The trust is being closed because we believe its small size no longer makes it viable. Janus Henderson poaches Mercer's Cheeseman for multi-asset team "The AUM of the trust…makes it challenging to achieve the desired level of portfolio diversification. "It is also unlikely that the trust will be able to attract significant levels of new inflows. "We therefore believe the trust will have limited opportunity to grow at a rate tha...