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Pease’s blockbuster fund formally merged into new vehicle

Pease’s blockbuster fund formally merged into new vehicle

Shareholders have vote overwhelmingly in favour of allowing Richard Pease to absorb the Henderson European Special Situations fund into his new boutique vehicle.

Investors were canvassed on 28 May about proposals regarding the future of the £1.08 billion (€1.4 billion) European equity fund.

Pease, who announced his departure last October, was able to take the fund to his new employer, Crux Asset Management, as part of a scheme of arrangement between the two groups.

The formal vote was supported by 99.96% of those in attendance, with the new fund formally called the FP Crux European Special Situations fund. It was officially merged on 4 June.

This move saw Pease, who was formerly head of European equities at Henderson Global Investors, relinquish two other funds to the management of Simon Rowe.

The Henderson European Special Situations fund, which is a UK-domiciled fund sold into several European markets, returned 90.27% in euro terms over the three years to the end of May 2015.

Its Citywire-assigned benchmark, the FTSE World Europe ex UK TR EUR, rose 90.72% over the same period.

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