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Barrass bows out and Hughes retires from Janus Henderson

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Barrass bows out and Hughes retires from Janus Henderson

Investment trust managers Ian Barrass and Colin Hughes are leaving Janus Henderson Investors due to ill health and retirement.

Barrass (pictured), lead manager of Henderson Alternative Strategies Trust (HAST), will depart at the end of next month ‘due to the cumulative effect of a very long-standing health issue’, the company said.

Janus Henderson, the result of a merger between Henderson Global Investors and Janus Capital Group of the US last year, won the mandate to run HAST five years ago after its board sacked previous manager SVM.

Responsibility for turning round HAST and overhauling its portfolio fell to Barrass, a specialist in private equity and alternative assets who joined Henderson in 2005 after serving as a director at Charterhouse Bank.

Although progress was slower than expected, Barrass and co-manager James de Bunsen succeeded in improving shareholder returns and the £108 million fund of funds easily passed its shareholder continuation vote in January.

‘The board is saddened by the news with regard to Ian and thanks him for his valued contribution to the company's successful portfolio restructuring since Janus Henderson Investors assumed the company's investment mandate in April 2013,’ said HAST’s board in a statement.

De Bunsen will continue to run HAST with Peter Webster, who has worked with the pair for over four years, promoted to co-manager.

Hughes, a co-manager of Henderson Opportunities Trust (HOT) with star fund manager James Henderson, is also retiring and leaving at the end of June.

Hughes joined Henderson in 1998 from AMP Asset Management where he worked as an analyst and portfolio manager on UK equities. He will be replaced by Laura Foll, a global equity income manager who already works with James Henderson, when she returns from maternity leave in September.

At £82 million, HOT is the smallest and highest risk of the three trusts managed by James Henderson, a contrarian, value fund manager whose ancestors founded the company. He also runs Lowland (LIC) and Law debenture (LWDB).

 

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