McDermott: de Blonay defection a 'major dent' for Henderson

McDermott, the Chelsea managing director, says he downgraded the fund immediately from a buy to a hold once he received news of de Blonay's decision to rejoin Jupiter. "I was a big fan of de Blonay's investment process and as he was the key manager on the fund, I felt I had no other choice but to downgrade the status of this fund to a hold immediately," McDermott says. "This development raises some concerns about the previously relatively seamless integration process and leaves a major dent in their retail ambitions. De Blonay was a deal-breaker when Henderson acquired New Star last y...