Henderson refocuses New Star Pacific Growth to provide income

Henderson New Star is changing the £66m New Star Pacific Growth fund's mandate to provide income as well as growth and will rename it New Star Asian Dividend Income.

The changes, which are subject to unit holder approval, will also see the fund given wider Ucits III powers, an increase in its distribution frequency from half-yearly to quarterly and the annual management fee charged to the capital of the fund rather than its income. Henderson New Star says the proposed changes reflect fund manager Mike Kerley's belief a portfolio of companies with a high dividend yield and those with dividend growth potential, combined with a disciplined derivative overlay, gives investors exposure to the structural Asian growth story but with lower volatility. "...