Hendersons pushes to reduce Harp discount

Henderson Global Investors is to embark on a targeted nationwide tour of intermediaries in a bid to narrow the discount on its flagship Henderson Absolute Return Portfolio. The fund, a UK-listed closed ended fund of hedge funds managed by John Husselbee, has just passed its one year anniversary. Despite delivering positive growth of its net asset value, up from 100p to 100.44p, the fund's discount has widened to 13.63%. Simon Ellis, head of UK retail at Hendersons, said the fund's discount is unjustified and is down to investors' lack of understanding of the product.