Henderson to offload property joint venture stake for £80m

Natalie Kenway
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Henderson Global Investors is to sell its 40% stake in TIAA Henderson Real Estate for £80m, as its trading update revealed AUM grew by 10% in Q1.

The asset manager said its £3.3bn Henderson UK Property OEIC will be unaffected by the planned sale of its joint venture holding to majority owner TIAA-CREF. The fund will continue to be managed by TH Real Estate and remain an integral part of Henderson's fund range, with Henderson continuing to administer, distribute and market the portfolio. Simon Hillenbrand, head of UK retail at Henderson, said: "The Henderson UK Property OEIC is our largest UK retail fund and remains a flagship product. We have worked extremely hard as a joint operation over the last five years to develop this fu...

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