Henderson Global Investors is planning a US high yield bond fund launch to broaden its fixed interes...
Henderson Global Investors is planning a US high yield bond fund launch to broaden its fixed interest range.
John Sharman, director of global fixed interest at Hendersons, said: 'We are very keen to develop more global and alternative products, taking a core and satellite-type approach. The retail range is fairly UK-centric and a US high- yield fund is something we are very keen to launch and we are talking months off rather than years.'
Hendersons' US arm has poached two sub-investment grade corporate bond specialists from Deutsche Scudder Investments to facilitate this.
Harry Resis, formerly managed Scudder's flagship high yield bond fund, Zurich Life 'BB' among others, has joined Hendersons as director of US fixed interest. Dan Doyle, who co-managed a number of Scudder funds with Resis, has joined as director of US credit. Resis and Doyle, who will work out of Chicago, will initially run institutional money and credit portfolios for US investors, a domestic retail offering is expected within a year.
Franklin Templeton Investments is also adding to its UK retail offering, a global vehicle primed for launch this week.
The fund is understood to be a managed product incorporating the leading funds of the group's separate investment divisions, Franklin, Templeton, Fiduciary Trust and Mutual Series.
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