In Fitch’s opinion, the experience and quality of the remaining European equity team at Henderson mitigate the departure of Mr. Stormont. The fund is now solely managed by Tim Stevenson with other members of the team providing back-up. Mr. Stevenson has run the fund since inception in 2001, has over 30 years’ experience in European asset management and has been at Henderson since 1986.
Launched in November 2001, the Henderson Pan European Equity Fund is a sub-fund of the Luxembourg SICAV ’Henderson Horizon Fund’, with EUR1.8bn of assets, as of end-December 2012. The fund returned 19.4% in 2012, outperforming the FTSE World Europe TR by 0.6%. At end December 2012, the fund obtained Lipper Leader scores for Consistent Return of 4, 4 and 5 (best) over three, five and ten years respectively.
Fitch’s Fund Quality Ratings combine Fitch’s experience in qualitative fund analysis with rankings and performance data from Lipper, a Thomson Reuters company. Fitch’s Fund Quality Ratings offer an independent, forward-looking assessment of a fund’s key performance and risk attributes and consistency of longer-term returns, relative to peer group or benchmarks. The ratings focus on the fund manager’s investment process, key fund performance drivers, risk management, and the quality of the fund’s operational infrastructure.
