Henderson

Bond managers fear for gilts and sterling in the coming days and weeks as the markets react poorly to the reality of a hung parliament.

Gilts have rallied significantly into the Election, driven more by the UK being associated with the core of Europe than the chance of a significant Tory majority.

Henderson plans to merge away five of its retail funds as the group implements a widespread rationalisation and revamp of its product range a year on from acquiring New Star.

Henderson's Stephen Peak remains comfortable with his near 12% stake in Gartmore despite seeing the fund manager's share price slide more than 30% this week.

Henderson recorded a £100m net retail inflow across its UK Oeic and unit trust range in 2009.

Multi-managers including Henderson and Thames River have recently reduced their allocations to Europe, following a turbulent few weeks for the region.

Henderson has agreed the final sale needed in order to re-open its New Star International Property fund, which has been suspended since 25 November 2008.

Henderson Global Investors and Gartmore were the two big winners in last night's annual Investment Week Investment Trust of the Year Awards.

Former New Star managing director of UK retail sales Simon Hillenbrand has joined Henderson as the group restructures its distribution team.

Henderson Group has retained a better than expected 77% of New Star fund assets but warned first half profits will be half the level of a year ago.