Henderson faces High Court battle with 30 pension schemes

Nearly 30 pension funds, including Tesco, BUPA and the BBC, have filed claims at the High Court seeking damages from Henderson Global Investors over claims it took too much risk with one of its funds.

Between 20 and 30 schemes, dubbed the Henderson Action Group, will seek damages from the asset manager over claims Henderson's Private Finance Initiative fund took too much risk by acquiring John Laing, a firm with a large pension deficit. It is claimed the fund promised to invest in low risk assets with inflation proofing, which the action group said the Laing acquisition contravened. A Henderson Action Group spokesman said: "They will protest that John Laing clearly did not fit into that category. The fund subsequently lost two-thirds of its value, not least because of the deficit i...