Henderson small cap demoted by FTSE

Henderson Smaller Companies has been relegated from the FTSE 250 index to the FTSE Small Cap index after seeing its net asset value fall by more than half over the last 12 months. The demotion comes in the latest quarterly review of both indices by index provider FTSE but the changes will not come into force until Monday 18 March. Paul Locke, analyst at HSBC, said the trust's demotion should not be seen as a surprise, given its geared exposure to the technology sector and the falls that markets have suffered during the past 12 months. He said pure IT stocks still comprise 35% of the por...