Global fund downgraded as manager departs

One of the first acts by the rebranded Morningstar OBSR was to downgrade the Henderson Global Focus fund following the departure of Neil Rogan.

The fund’s manager and head of global equities at Henderson Global Investors will be replaced by Matthew Beesley.

The fund’s rating was downgraded to ’neutral’ from its previous ’bronze’ rating after the news broke.

A statement from Morningstar OBSR states: “Mr Beesley joins Henderson from Trinity Asset Management, where he was a partner.

“We will continue to monitor the fund’s progress under the new manager.”

Beesley will begin on April 2. He has previously worked for Mercury Asset Management and JP Morgan Asset Management.

The £209m Henderson Global Focus fund is ranked fourth quartile over one, three and five years in the IMA Global sector, according to FE.