Henderson Global Investors is to offer its managed income multi-fund product outside an Isa wrapper ...
Henderson Global Investors is to offer its managed income multi-fund product outside an Isa wrapper for the first time to target the Sipp and SSAS markets.
The product consists of eight of the group's income generating funds, with asset allocation between them managed by head of retail fixed interest John Sharman.
Producing an income of around 7.5%, the underlying funds consist of the Henderson Corporate Bond, European High Yield, UK Gilt, Long Dated Corporate Bond, Long Dated Gilt, Overseas Bond, Preference & Bond and Index Linked Bond funds. The Isa product was launched in September last year.
The launch is due within the next two weeks, at a time when Hendersons is moving to develop its global equities desk. This will give it the potential to launch a large cap North American fund, a notable gap in its range, and a global equities portfolio.
It is not the launch of a retail product for the UK market that is the main driver behind the development of the desk under Nitin Mehta, but the demands of overseas institutional investors, a market Hendersons is seeking to expand in.
Simon Ellis, sales director at Hendersons, said the desk needed to be stronger to compete in the Far East, US and European institutional markets. The strengthening of the desk will not involve merging it with already established geographical or specialist desks, such as its North America and technology capacities.
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