Henderson Financial Opps to close

The board of £14m Henderson Financial Opportunities is proposing to wind up the investment trust due to the continued fears around the banking industry.

Under proposals agreed last year, the board set out its intention to grow the fund in order to improve liquidity and decrease costs. However, the board believes it would be difficult to raise money in the short term, given the current uncertain outlook for Western economies and the fears that still surround banks and other financial institutions. Managed by Emily Adderson, the fund invests in equities and debt of global financial companies. As of 31 August, it had 44% in banks, 18% in life and non-life insurers, 20% in fixed income, with the remainder split between real estate, gen...