Henderson European Funds Under Review after Manager Quits

Gold Rated manager Richard Pease has quit his role at Henderson for boutique asset manager Crux - and is taking his £1 billion European Special Situations fund with him

Emma Wall 15 October, 2014 | 4:15PM
Facebook Twitter LinkedIn

Top rated European equities manager Richard Pease has quit Henderson Asset Management for boutique asset house Crux – and he is taking his £1.1 billion Special Situations fund with him.

Pease is currently director of European equities and has run the Morningstar OBSR Silver Rated Henderson European Special Situations for five years. He will be working out the transfer of this fund and his responsibilities over the next seven months, subject to obtaining regulatory and client approval.

Henderson stated in a release this morning that post transfer, the fund will continue to be managed by Richard and his team at Crux Asset Management.

Pease also co-manages the Gold Rated Henderson European Growth and Henderson Horizon European Growth funds, which the responsibilities for which will be transferred to his co-manager Simon Rowe. Henderson has clarified Rowe will be supported by the wider European equities team led by John Bennett. 

Newly launched firm Crux will be regulated by the Financial Conduct Authority, and will be led by chief executive Alistair Reid, formerly of Thornhill. Pease is the third employee to join from Henderson. Mark Little will head of distribution and James Milne, current co-manager of European Special Situations will also be joining.

What the Analysts Say

Morningstar analysts have placed all three funds co-managed by Richard Pease Under Review. Muna Abu-Habsa who is head of European equity funds said that while the analyst team think highly of Pease, his extensive experience and proven investment ability, the uncertainty surrounding a start-up asset management firm warrants some caution and the Special Situations fund has been placed Under Review as they gain further clarity on the future parent. 

The Henderson European Growth fund and the Henderson Horizon European Growth fund have also been placed Under Review. Both funds previously held a Gold rating. Morningstar analysts will be meeting new head manager Rowe in due course in order to discuss the changes to the team and his future plans for the funds.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Facebook Twitter LinkedIn

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Janus Henderson European Gr A Acc322.72 GBP0.88Rating
Janus Henderson Hrzn European Gr R1 EUR25.62 EUR0.72Rating

About Author

Emma Wall  is former Senior International Editor for Morningstar

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures