The board of the £156m Henderson Global trust, managed by Brian O'Neill, is proposing to change its benchmark to reduce its hefty exposure to UK equities.
The trust currently has 40% in UK equities and is benchmarked against a composite index composed of 50% of the FTSE All-Share Index and 50% of the MSCI World Index ex-UK. The company is planning to change its benchmark to the MSCI All Country World Index, which has around 8% in UK equities, in a move which would lead to a decline in UK equity weightings. In a shareholder circular the board said: "The main change is to the benchmark index, which reflects the company's increasing exposure to international markets, with less concentration in the UK. "While still intending to have a co...
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