Janus Henderson revamps Multi-Manager Absolute Return fund

de Bunsen-James-Henderson-2014Janus Henderson Investors is changing the investment approach and name of the Multi-Manager Absolute Return fund to reflect the greater use of direct investments in the portfolio.

The fund will be renamed the Henderson Multi-Asset Absolute Return fund as of 4 July.

Simon Hillenbrand, head of UK Retail, says the new name “better reflects the fund’s strategy”.

“The fund has always been able to gain exposure to assets by investing in externally managed funds and also by direct investment,” Hillenbrand says.

“Looking ahead we expect the fund to make more use of direct, lower-cost instruments as an overall proportion of its investments, as the emphasis of the fund shifts from using external managers towards a more direct investment approach.”

As a result of the changes, the fund’s AMC will be cut by 0.125 percentage points across its share classes.

Hillenbrand adds that the fund will continue to invest in externally managed funds selectively, and the fund’s objective, investment policy and risk profile will not see material changes.

Over one year the £149m has returned 5.7 per cent against the 3 per cent average of the IA Targeted Absolute Return sector, FE data shows.