Henderson Global Investors is streamlining its UK retail fund range in two phases, starting in May and including fund mergers, changes to fund names and mandates, and, where appropriate, a change in fund manager. 

The firm said it has identified funds with an “overlap of investment objective and policy,” or, where it believes a change to a fund “is in the best interests of investors,” it said in a statement.

“It has always been our intention to further rationalise the UK retail range for two main reasons. Firstly, to remove complexity and duplication, and secondly, to enable us to focus on a smaller number of key investment strategies that are clearly relevant to our investors,” said Mark Skinner, director of retail global distribution.

Phase one, which will commence on 4 May, will involve the name change of the Henderson Diversified Absolute Return Fund to the Henderson Multi-Manager Diversified Fund, which will be managed by Bill McQuaker and Paul Craig.

In addition, the Henderson Higher Income Fund will operate as the Henderson Global Equity Income fund as of 30 March, under the management of Ben Lofthouse and Andrew Jones.

The following mergers will subsequently take place during phase one:

The Henderson European Value Fund transfers to the Henderson European Growth Fund, managed by Richard Pease and Simon Rowe;

The Henderson US Opportunities Fund transfers to the Henderson US Growth Fund, managed by Tom Marsico, Coralie Witter and Doug Rao;

The Henderson UK Strategic Capital Unit Trust transfers to the Henderson Global Strategic Capital Unit Trust, managed by Paul Craig;

The Henderson Extra Monthly Income Bond Fund transfers to the Henderson Fixed Interest Monthly Income Fund, managed by John Pattullo and Jenna Barnard, and;

The Henderson High Yield Monthly Income Fund transfers to the Henderson Fixed Interest Monthly Income Fund - also managed by John Pattullo and Jenna Barnard.

The following funds will then also merge from 20 July:

The Henderson Managed Distribution Fund transfers to the Henderson Cautious Managed Fund, managed by Chris Burvill;

The Henderson International Fund transfers to the Henderson Global Innovation Unit Trust, managed by Ian Warmerdam and Stuart O’Gorman;

The Henderson Industries of the Future Fund transfers to the Henderson Global Care Growth Fund, managed by Nick Anderson;

The Henderson Global Care UK Income Fund transfers to the Henderson Global Care Growth Fund, also managed by Nick Anderson;

The Henderson UK Strategic Income Unit Trust transfers to the Henderson Multi-Manager Diversified Fund, managed by Bill McQuaker and Paul Craig;

The Henderson European Smaller Companies Fund transfers to the Henderson European Focus Fund, managed by John Bennett, and;

The Henderson Global Dividend Income Fund transfers to the Henderson Global Equity Income Fund, under the management of Ben Lofthouse and Andrew Jones.

Since acquiring New Star and Gartmore the firm said it has successfully consolidated over 50 funds across its global distribution channels.