Henderson European trust pushes for combination with Fidelity European

Predicted market lift of 6%

The board of Henderson European trust (HET) has decided to seek a combination with Fidelity European trust (FEV) following the resignation of two key fund managers earlier this year.

According to a stock exchange notice today (19 June), the departure triggered a review by HET's board to determine the potential options for the strategy's "future", leading to engagement with shareholders. Nick Train's Finsbury Growth & Income steps up Burberry allocation to highest since February "The board concluded that a combination with FEV pursuant to a scheme of reconstruction of HET under section 110 of the Insolvency Act 1986, creating a much larger European investment trust with expected net assets of approximately £2.1bn was the best outcome for shareholders," the notice r...