Henderson to set up US team for HY expansion

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Henderson Global Investors is set to develop a fixed income team in the United States in order to launch a global high yield fund, Citywire Global can exclusively reveal.

Speaking to Citywire Global, Euro Stars AAA-rated manager Stephen Thariyan (pictured) said his team plans to develop the new fund hot-on-the-heels of yesterday's announcement of a new European high yield fund.

The European High Yield fund, which is still subject to regulatory approval, will be run by Thariyan and Citywire AAA-rated co-manager Chris Bullock.

However, the latest twist in Henderson’s high yield expansion will apparently see a new team established in the United States to oversee a new fixed income fund which Thariyan said will invest in global high yield debt.

‘We are trying to be very active in order to build a high yield team in the US in order to establish a global high yield fund,’ said Thariyan. ‘Globally, the high yield market is 85% in the US, so it makes sense.’

‘We have launched the European high yield fund because that is where investors are asking us to show our commitment at the moment.’

Thariyan said Henderson plans to make the fund available to investors by the end of the year, with a proposed launch suggested for the fourth quarter of 2012.

Henderson has been very active in bolstering its fixed income offerings in recent weeks. Prior to yesterday’s announced fund launch, Thariyan added two credit analysts to his investment team.