Henderson Global Investors is shutting its offshore property and pan-European bond fund because of falling assets under management and a failure to hit performance targets.
The Luxembourg-domiciled Henderson Horizon Pan European Bond fund, which is managed by John Pattullo and Jenna Barnard was launched in November 2001, but is due to close on 4 March. Assets under management in the fund stood at €10m, as at 31 January 2009. Morningstar data shows that during 2008 the European bond category was down 8.4%. However, the Henderson Horizon Pan European Bond fund was down 13.7% during the same period. The Henderson Horizon Pan European Property Equities Alpha Plus fund, which is managed by Patrick Sumner was launched on 3 December 2007 and is set to shut on 27 ...
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