Henderson to move absolute return fund into new managed sector

Henderson Global Investors has proposed moving Paul Craig's Diversified Absolute Return fund into the newly created IMA Mixed Investment 0-35% shares sector, while bringing in Bill McQuaker as co-manager.

The fund, currently sitting in the IMA Specialist sector, will also change its name and objective, converting into the Henderson Multi-Manager Diversified fund, It will target a total rather than absolute return. McQuaker, the group's head of multi-asset, has been named as co-manager on the fund as part of the changes. The fund will also be allowed to use derivatives more widely to help generate returns. Henderson said the changes, which are subject to regulatory and shareholder approval, will take place on 30 March. The move will take the number of funds in the newly created se...