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Henderson Global Trust - Neutral

INVESTMENT TRUST RESEARCH UPDATE: Trust rating moved to Neutral

Jackie Beard, FCSI 31 March, 2014 | 3:24PM

We have reinstated a Morningstar Analyst Rating™ of Neutral for Henderson Global Trust (HGL) following the change in investment manager. Under former manager Brian O’Neill the fund held a Silver rating. While the developments at the fund and its remit make good sense to us, new manager Wouter Volckaert has no public track record in fund management—although he managed segregated mandates in his former role at Morgan Stanley—and he has joined a team that has recently been remodelled under Henderson’s new head of global equities Matt Beasley. Given the extent of these changes, our current level of conviction is muted relative to more proven peers in the category.

 

 

 

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About Author

Jackie Beard, FCSI

Jackie Beard, FCSI  is Director of Manager Research Services, Morningstar EMEA

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