Henderson set to manage trust

Former manager Colin Hughes, who is part of the UK small cap team, will continue to work on the trust but will relinquish his role as lead manager subject to a shareholder vote in January. The move comes only a year and a half after Hughes, who was made manager in February 2005, had realigned the portfolio. However, the company’s board believed there was insufficient demand from investors to sustain the discount of 8pc over the medium term, and said many smaller company focussed investment trusts were trading at greater discounts to NAV than Henderson Strata. The revised objective will b...