This announcement contains
information that is inside information for the purposes of Article
7 of the UK version of Regulation (EU) No. 596/2014 which is part
of UK law by virtue of the European Union (Withdrawal) Act 2018, as
amended (the "Market Abuse
Regulation"). The person responsible for arranging for the
release of this announcement on behalf of Henderson European Trust
plc is Janus Henderson Secretarial Services UK Limited acting as
corporate secretary.
3 February 2025
Henderson European Trust
plc
Portfolio management
arrangements
The board of Henderson European Trust plc (the
"Company") has been
notified that the Company's two co-portfolio managers, Tom O'Hara
and Jamie Ross, have resigned from Janus Henderson Investors
("JHI").
With effect from today, Robert
Schramm-Fuchs and Nick Sheridan, experienced portfolio managers who
have worked in JHI's European Equities team since 2014 and 2009
respectively, will assume interim joint responsibility for
management of the Company's portfolio. Robert and Nick will be
supported by the full breadth of JHI's well-resourced and
specialised European Equities team, ensuring continuity of
investment management. The Company's approach remains to seek to
maximise total return by investing in Europe's "global
champions".
The Board will, via Deutsche Numis,
be soliciting shareholder views on the strategic direction of the
Company, and intends to review the Company's position in light of
the feedback received.
In conjunction with the Company's
merger transaction completed last year, the Board introduced two
new discount management provisions, and subsequently it has been
actively operating its share buyback policy with a view to
mitigating shareholders' exposure to volatility in the share price
discount to NAV. The Board confirms its intent to continue the
operation of the share buyback policy and, considering this
development, has decided to introduce a target of maintaining a
single-digit discount, in normal market conditions, to provide
support to the absolute rating of the Company's shares.
A further announcement will be made
by the Company in due course.
For further information please
contact:
Notes
Robert Schramm-Fuchs
Robert Schramm-Fuchs is a Portfolio
Manager on the European Equities Team at Janus Henderson Investors.
He is the Portfolio Manager of the Janus Henderson European Focus
Fund. Robert joined Henderson in 2014 as a European equity
analyst. Prior to Henderson, he was with Macquarie's global
alternative energy and utilities research team from 2010. Before
this, he was head of the renewables research team at Commerzbank
based in Frankfurt. He also worked with BHF Bank and Independent
Research covering the solar sector for nine years. Robert received
a Diploma in international management from Friedrich-Schiller
University of Jena. He has 20 years of financial industry
experience.
Nick Sheridan
Nick Sheridan is a Portfolio Manager
on the European Equities and Global Smaller Companies teams at
Janus Henderson Investors. He is the Portfolio Manager of the Janus
Henderson Horizon Euroland Fund. Nick joined Henderson in 2009 as
part of the acquisition of New Star, where he was a portfolio
manager for two years. Before New Star, he was a director of
European equities at Tilney for six years. He began his fund
management career at BWD Rensburg in 1990 and entered the industry
as a buy-side analyst at Ashton Tod McLaren in 1986. Nick graduated
with a BA degree (Hons) in politics from Liverpool University. He
received the Securities Institute Diploma from the Chartered
Institute for Securities & Investment and has 39 years of
financial industry experience.
Legal Entity Identifier
213800GS89AL1DK3IN50