Henderson is to convert its £568m Higher Income fund into a global equity offering as part of a major overhaul of its fund range.

The fund - one of five the group offers in the IMA Equity Income space - is managed by Graham Kitchen and Andrew Jones.

It will now be run by Ben Lofthouse and Jones, and called the Henderson Global Equity Income fund.

Lofthouse and Jones' existing global income fund, the £24m Global Dividend Fund, will be merged into the new Global Equity Income fund on 20 July.

Higher Income has returned 60.7% over the three years to 3 February 2012, according to Morningstar, compared with an IMA UK Equity Income sector average of 53.9%.

Henderson is also converting a range of other mandates as it rationalises its range following the acquisitions of New Star and Gartmore.

The group is merging John Pattullo and Jenna Barnard's £191m Extra Monthly Income Bond and £168m High Yield Monthly Income funds into their £445m Fixed Interest Monthly Income fund.

Meanwhile, the Henderson European Value fund will merge into the European Growth fund, its US Opportunities fund into its US Growth fund, and its UK Strategic Capital unit trust into its Global Strategic Capital unit trust.