The board of the £105m Henderson Alternative Strategies Trust (HAST) has proposed the company be wound up after a strategic review instigated by manager Alex Barr.
The company blamed low appetite for an increase in illiquidity from major shareholders, which it said was the only way to improve performance. HAST has returned just 20% since Janus Henderson took over from SVM in April 2013, compared to its benchmark FTSE World's 125% and sector peers' 45%, according to FE fundinfo. Its discount to net asset value in that time has only once been tighter than 10% and as at 15 January stood at 20%. Shares in the company rose 11% on the news, narrowing the discount to around 11%, as analysts claimed the move "makes sense". Janus Henderson UK Property...
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