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Henderson launches fund for natural resources star

Henderson launches fund for natural resources star

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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David Whitten
David Whitten
9/21 in Equity - Natural Resources (Performance over 3 years) Average Total Return: -29.49%
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