Tuesday, 21 April 2015
Last updated 25 min ago
Oct 20 2011 | 11:46am ET
Henderson Global Investors has announced that it is closing two of its retail-oriented absolute return funds to new investment—for now—because they are close to reaching their $2 billion capacity.
The two funds, Henderson UK Absolute Return OEIC and Henderson Gartmore UK Absolute Return SICAV, which are both managed by Ben Wallace and Luke Newman, will soft close on Nov. 30. According to the firm, the move is being made in order to protect the interests of existing investors and to seek to avoid potential performance dilution.
Commenting on the soft closure, Simon Hillenbrand, head of UK retail, says: “Since the launch of the UK Absolute Return OEIC in 2009 and the Henderson Gartmore UK Absolute Return SICAV in 2010 the funds have demonstrated they are capable of delivering positive returns despite challenging market conditions. However, as the funds have grown in size, we are mindful that there are certain capacity constraints. Therefore, in order to ensure the strategy remains nimble and to protect the interests of existing investors and future performance we have taken the decision to ‘soft close.’”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…