Henderson is to scrap the yield target on two of its multi-manager funds due to "dramatic changes" in the income environment, Investment Week, IFAonline's sister title, can reveal.
The group has written to investors outlining plans to scrap the yield target on both the £431.5m Multi-Manager Income & Growth and the £214m Multi-Manager Distribution funds on 22 July. Both funds are managed by Bill McQuaker (pictured) and his multi-asset team. Currently, Income & Growth targets income in excess of the yield on the FTSE All-Share, while the Distribution fund aims to produce income "significantly in excess" of the All-Share yield. As of 22 July, Income & Growth will aim to provide "long-term capital growth with the potential for some income generation", while Distr...
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