European high yield fund launch from Hendersons

By James Thorneley Henderson Investors is to offer a European high yield corporate bond unit trust with a headline yield of around 8% from 20 October The fund is to be formed by converting the group's existing Henderson European High Income unit trust, run by John Botham, and renaming it the European High Yield Corporate Bond Fund The converted fund will be run by Dominic Powell and invest mainly in double B and single B securities. Though it can hold triple C-rated securities exposure is limited to 1% per issue. The portfolio will consist of around 30 holdings from a universe of about 2...