Henderson faces High Court battle with 30 pension schemes

Between 20 and 30 schemes - calling themselves the Henderson Action Group - will seek damages from the asset manager over claims Henderson's Private Finance Initiative fund II took too much risk by acquiring John Laing, a construction firm with a large pension deficit, for £1bn in 2006 . It is claimed the fund promised to invest in low risk assets with inflation proofing, which the action group says the Laing acquisition contravened. It said John Laing "clearly did not fit" into the low risk category outlined in the fund's mandate. When the credit crunch hit, the vehicle lost two-t...