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Henderson launches fund for natural resources star
by Chris Sloley on Jul 02, 2014 at 14:01
Henderson Global Investors has launched a new fund which will be run by former Colonial First State Investments head of natural resources David Whitten.
The Luxembourg-domiciled Henderson Horizon Global Natural Resources fund will focus on worldwide trends in the sector.
Whitten is the executive chairman of 90 West Asset Management, an Australia-based group part-owned by Henderson, which he joined in July 2011 as a partner. He had previously served as head of global resources at Colonial First State Investments between 1997 and 2010.
In the new fund, Whitten will invest in liquid assets drawn from a universe of 1,000 global natural resource companies.
The portfolio will typically consist of 40-60 companies, each with a market cap exceeding $2 billion, from the mining, energy and infrastructure sectors.
The Henderson fund runs on a similar format to the existing 90 West Global Natural Resources fund, which Whitten has run for Australian investors since July 2012.
Commenting on the launch, Whitten said: ‘The long-term trends of increasing population, prosperity and urbanisation, particularly among developing economies, are leading to a rising global consumption of natural resources.’
‘These demands, combined with a constrained supply for certain commodities, provide a favourable investment climate and are captured through the investment themes within the fund.’
Henderson initially acquired a 32.2% shareholding in the Australian group in May 2013 and this year increased its stake to 41.4%.
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