(The following statement was released by the rating agency)
Jan 21 - Fitch Ratings has said that the departure of the co-manager of the Henderson
Horizon Pan European Equity Fund, William Stormont, will not affect the "Strong" rating assigned
to the fund.
In Fitch's opinion, the experience and quality of the remaining European equity
team at Henderson mitigate the departure of Mr. Stormont. The fund is now solely
managed by Tim Stevenson with other members of the team providing back-up. Mr.
Stevenson has run the fund since inception in 2001, has over 30 years'
experience in European asset management and has been at Henderson since 1986.
Launched in November 2001, the Henderson Pan European Equity Fund is a sub-fund
of the Luxembourg SICAV 'Henderson Horizon Fund', with EUR1.8bn of assets, as of
end-December 2012. The fund returned 19.4% in 2012, outperforming the FTSE World
Europe TR by 0.6%. At end December 2012, the fund obtained Lipper Leader scores
for Consistent Return of 4, 4 and 5 (best) over three, five and ten years
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.