Court backs Henderson in PFI fund battle

A court has found in favour of Henderson Equity Partners following allegations of a breach of its Henderson PFI fund mandate.

The claims came to light last December when it emerged subsidiaries of Henderson Group had been served with legal proceedings by a majority of investors in its Henderson PFI Secondary Fund II.

As well as accusing Henderson Equity Partners of a breach of mandate, the fund's investors, thought to include large institutional clients and Continental European pension funds like Tesco, made allegations of misrepresentation.

But at a court hearing to deal with preliminary matters and issues relating to the claims of breach of mandate a judgment was handed down in favour of Henderson.

Henderson said it does not know at this stage whether investors in the fund will appeal.