Name & Investment Policy Change - Henderson Gartmore Global Focus Fund
Henderson Global Investors will be making some changes to the Henderson Gartmore Global Focus Fund on 1 December 2013
Change of investment policy and change of name to the Henderson Gartmore Global Growth Fund
From 1 December 2013, the fund will change name to the Henderson Gartmore Global Growth Fund and its investment policy will be amended.
The investment policy will be amended from:
The Fund aims to achieve a long-term return, in excess of the long-term return that is typically achieved from global equity markets, by investing at any given time at least two-thirds of its net assets in a concentrated portfolio of companies in global markets. The return will be a combination of capital and income returns.
The Fund will invest in companies of any market capitalisation. The Fund will invest in a portfolio of typically 30-40 holdings.
To:
The Fund aims to achieve above average long-term capital growth, in excess of long-term capital growth that is typically achieved from global equity markets. The Fund will invest principally in a concentrated portfolio of global securities with a bias to those securities where innovation drives competitive advantage and where the fund manager considers them to be underappreciated and which offer substantially high levels of growth.
The Global Focus fund will be managed as a concentrated portfolio, but will not be constrained to only 30-40 holdings.
The Annual Management Charge will move from a floating 1.25% to 2.00% (the charge applied is dependent on fund performance) to a flat 1.50%.
Appointment of Henderson Management S.A as management company
The Henderson Board of Directors has decided to replace the current structure with a management company. Henderson Management S.A. will be appointed, effective from 1 December 2013. These changes will not impact shareholders or how the fund is managed. There will be no fee increases as a result of the Henderson Gartmore Fund appointing Henderson Management S.A. as its management company.
The fund features in our guided architecture products Oracle, Paragon and Quantum. Policyholders invested in the fund as at 4 November 2013 have been written to to advise of the changes. Where policies have an appointed investment adviser they will receive the notification instead. Servicing financial advisers will receive a copy for information.
Sample letters and a copy of the Henderson notification can be viewed opposite.