Hendersons cuts its initial fee on Europe bond fund

Henderson Investors has cut the initial charge on its European High Yield Bond unit trust. Until the end of April the front-end charge will be 3.5% instead of the usual 4% for lump sum investments. The annual management charge on the £32.4m fund, which was launched in October 1999, will remain the same at 1.25%. Intermediaries can receive up to 3% commission and 0.5% trail is available on Isa investments. The fund is offering a yield of 9.1% after charges and is ranked in the top quartile of the Micropal UK General Bonds peer group over three months. But the fund should actually be ranke...