Henderson snaps up stakes in Barclays and BP

Veteran UK equity income fund manager James Henderson has moved up the market cap spectrum in his £70m Henderson Opportunities trust, buying up positions in Barclays and BP.

Henderson (pictured), who typically hunts for value outside FTSE-100 names, said the market has mis-priced the merits of both stocks. Speaking to shareholders earlier this week as the trust reported six month numbers to the end of April - a period which has seen the company deliver a total return of 21.3% compared to the FTSE All Share index return of 14% - Henderson said he is increasingly finding more opportunities in large cap names. "We moved up the size scale and bought Barclays and BP. With the former we feel too much emphasis has been placed on past management and the investmen...