Ex-Capital Group manager Denning denies Panorama accusations

Investors 'were never disadvantaged'

Mark Denning, formerly of US asset management giant Capital Group, has "strenuously" denied claims by BBC Panorama that he secretly bought shares for his own benefit in some of the same companies as his funds.

Panorama alleged that Denning invested in Australian medical researcher Mesoblast, Indian film maker Eros International and UK-listed gold miner Hummingbird Resources through a secretive fund based in Liechtenstein, called Morebath Fund Global Opportunities. The stakes in the trio, according to the BBC, were ultimately held through an offshore entity called the Kinrara Trust, which was set up and controlled by Denning. But in a statement, Denning denied the accusations, claiming he was not a beneficiary of the Kinrara Trust "and therefore cannot, under any circumstances, benefit from ...