Fitch Affirms Henderson Horizon Global Technology Fund 'Strong' Fund Quality Rating

Mon Mar 11, 2013 10:39am EDT

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(The following statement was released by the rating agency) LONDON/FRANKFURT, March 11 (Fitch) Fitch Ratings has affirmed Henderson Horizon Global Technology Fund's 'Strong' Fund Quality Rating. The fund is managed by Henderson Global Investors. Launched in October 1996, the current portfolio managers (PMs) and investment process have been in place since 2001. The Henderson HF Global Technology Fund is a sub-fund of the Luxembourg SICAV 'Henderson Horizon Fund', with USD2.2bn of assets, as of end-January 2013. The fund is a technology sector fund, and has a long term, mega cap, secular growth bias. The focus is on identifying companies with market-leading technology, strong fundamentals and superior market positioning. Fundamental company and industry analysis is combined with a thematic overlay. Stock selection and portfolio construction is enacted by the PMs who have autonomy to run the portfolio, but are subject to strict oversight from an independent risk function. The fund's benchmark, the MSCI AC World IT index, is used as an anchor for the portfolio, although the PMs are not constrained by it. The fund is co-managed by Stuart O'Gorman and Ian Warmerdam, who have combined experience of over 20 years specifically in the technology equity sector. The fund has outperformed the Lipper category "Equity Sector Information Tech" on both a 10- and five-year basis. The strong track record is illustrated by a Lipper Leader Consistent Return score of five (highest quintile) over ten, five and three years, as of February 2013. Henderson is a listed, global asset manager with GBP65.6bn assets under management as of end-December 2012. Henderson has a long track record of managing speciality technology assets since 1983, and the technology team currently manage a total of around USD3.5bn. Fitch's Fund Quality Ratings combine Fitch's experience in qualitative fund analysis with rankings and performance data from Lipper, a Thomson Reuters company. Fitch's Fund Quality Ratings offer an independent, forward-looking assessment of a fund's key performance and risk attributes and consistency of longer-term returns, relative to peer group or benchmarks. The ratings focus on the fund manager's investment process, key fund performance drivers, risk management, and the quality of the fund's operational infrastructure. For more information, please see www.fitchspotlight.com/FQR. Contacts: Primary Analyst Richard Woodrow, CFA Analyst +44 20 3530 1388 Fitch Ratings Limited 30 North Colonnade London, E14 5GN Secondary Analyst Roger Schneider, CIIA Senior Director +49 69 768076 242 Committee Chairperson Ian Rasmussen Senior Director +1 212 908 0232 Media Relations: Hannah Huntly, London, Tel: +44 20 3530 1153, Email: hannah.huntly@fitchratings.com. Additional information is available at www.fitchratings.com. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings. Applicable criteria, 'Fund Quality Rating Criteria', dated 19 September 2011, is available at www.fitchratings.com. Applicable Criteria and Related Research Fund Quality Ratings Criteria: Assessing Funds’ Investment Processes and Operational Attributes here ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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