Henderson Global : HGL – results and fee change

Henderson Global Trust, now managed by Wouter Volckaert (pictured), underperformed its benchmark over the year to the end of January 2014. The net asset value total return was 4.7% while the total return on the benchmark was 9.2%. The discount widened from 3.8% to 9.4% and the effect of this was that the share price fell by 3.9% (equivalent to a total return of -1.2%).

The Board has agreed that the base management fee will now be 0.6% on all assets – before the fee fell to 0.35% on assets over £200m. The assets of Henderson Global are about £150m so this change has no immediate impact except that, at the same time, the Board has agreed that an £80,000 annual secretarial fee will no longer be charged by Henderson.


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