henderson launches high yield fund

Henderson Global Investors has announced intentions to launch an offshore Euro High Yield Bond Fund in Q4 for fixed income duo Stephen Thariyan and Chris Bullock.

henderson launches high yield fund


The Henderson Horizon Euro High Yield Bond fund is a Ucits-compliant product with an investment objective to provide an high overall yield and potential for capital growth.

At least 70% of its net assets will be invested in sub investment grade corporate debt securities, with a credit rating equivalent of BB or lower and denominated in euros and sterling.

The launch follows the promotion of Jenna Barnard to deputy head of retail fixed income and Nicholas Ware to director of retail fixed income, announced last week.

Henderson also recently recruited two senior credit analysts to bolster its fixed income team.

Stephen Thariyan, head of credit and co-manager of the new fund, said: “Our entire team has long covered the full spectrum of the corporate bond market from investment grade to high yield and we have just hired two highly experienced credit analysts to ensure we become even stronger. Now clients have seen our capability in the corporate bond area it is logical to launch a Euro High Yield Bond Fund to provide them with the opportunity to access the high yield market.”

Thariyan and Bullock already manage the Henderson Horizon Euro Corporate Bond Fund, which the firm said has beaten the iBoxx Euro Corporates Index by over 10% since launch in December 2009, with growth of 27.02% in the period compared to 15.93% from the index.

It has grown from AUM of around €100m at the start of the year to €680m as at the end of August, a beneficiary of investors’ appetite for corporate bonds in 2012.



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