Hendersons rebuffed in search for tech team
Henderson Investors has approached Scottish Equitable Asset Management's (SEAM) technology team of ...
Henderson Investors has approached Scottish Equitable Asset Management's (SEAM) technology team of Paul Kleiser and Stuart O'Gorman, writes Leo Bland.
SEAM confirmed the pair had been contacted but said the two had decided to remain where they were. Hendersons has been on the look out for experienced fund managers in this area ever since its own technology team, headed by Tim Woolley and Brian Ashford-Russell, announced their decision to leave and set up an investment boutique.
Ian Buckley, chief investment officer at Hendersons said: "The SEAM technology team has a very good reputation but there are other teams out there that have also got a very good reputation.
"Looking at the fund performance of Henderson Global Technology over the longer term we want to have a specialist team in place but these things take time."
Other specialist teams in the market include Aberdeen's, which is headed by John Pullar-Strecker, lead manager of the Aberdeen Technology fund. Other members of the Aberdeen technology team include Ed Protheroe, who manages Aberdeen's European technology fund and Ben Rogoff.
Anther potential target for Hendersons is Katie Potts, manager of the Herald Investment Trust, which focuses on smaller companies in the communications and multi-media sector.
Dresdner RCM has two technology fund managers based in its San Francisco office, Huachen Chen and Walter Price, who Investment Week understands are also potential targets.
Chen and Price jointly manage the group's Global Technology fund, an offshore Ucits.
Henderson's technology team of Ashford-Russell, Woolley and David Magliocco are leaving the group in December to set up an investment boutique.
The managers, who continue to run the Henderson Technology investment trust plus the offshore and hedge fund versions, are looking to run similar vehicles on their own but want to cap the amount of money they run.
The Henderson Global Technology unit trust is now being managed by Nitin Mehta.
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