Henderson trio transforms New Star legacy fund

Henderson's John Pattullo, Jenna Barnard and Trevor Green have turned around poor performance on the Managed Distribution fund they inherited from New Star, with the addition of Ucits III powers and a more cohesive approach.

The three managers have pulled performance on the £338m legacy fund from the third quartile over three years to make it the second best performing fund in the Cautious Managed sector over one year. When Henderson bought New Star in April 2009, Managed Distribution was trailing at the bottom of the IMA Cautious Managed sector over one and three years. The fund had been a victim of the sharp sell-off in financial equities during the financial crisis and the near-closure of the credit markets – not ideal for a fund heavily invested in corporate bonds. The new management team was faced...