Henderson is to scrap the yield target on two of its multi-manager funds due to "dramatic changes" in the income environment", Investment Week can reveal.
The group has written to investors outlining plans to scrap the yield target on both the £431.5m Multi-Manager Income & Growth and the £214m Multi-Manager Distribution funds on 22 July. Both funds are managed by Bill McQuaker (pictured) and his multi-asset team. Currently, Income & Growth targets income in excess of the yield on the FTSE All-Share, while the Distribution fund aims to produce income "significantly in excess" of the All-Share yield. As of 22 July, Income & Growth will aim to provide "long-term capital growth with the potential for some income generation", while Distr...
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