Henderson renames funds in Coll conversion

Henderson Global Investors has converted its Oeic range of funds to the FSA’s new collective investment schemes rulebook (Coll).

As a result of this conversion, all the funds in the Oeic have become Ucits III-compliant, although it has not made changes to any of the portfolios.

However, as part of the conversion the group has announced that it has renamed the Henderson UK All Companies and Strategic High Yield Bond funds.

The 375m UK All Companies fund, managed by Graham Kitchen and Andrew Jones, is now Henderson Growth & Income.

Meanwhile, the John Pattulo-managed 89m Strategic High Yield Bond fund has become the Strategic Bond fund. According to the group, these name changes better reflect the funds’ objectives.

Phil Jefferson, head of wholesale at Henderson, says it will be up to the group’s two chief investment officers how the added flexibility granted under Ucits III will be used by all the portfolio managers.

“Andrew Formica [CIO equities] and David Jacob [CIO fixed income] are ultimately responsible for the management teams,” he says.

“How and whether or not funds take advantage of Ucits III, such as using derivatives, is down to them.”

However, Jefferson says there will be no radical changes to any of the existing funds.

“Despite all the changes already made at Henderson, we are still not there yet in terms of our performance figures, especially in our core funds, whether they be Oeics or Sicavs,” he says.

“As a result there is still a lot to do and this change to Coll and Ucits III is a crucial part of the whole process.”