Morningstar moves Henderson High Income Trust to Neutral
Morningstar has moved the Morningstar Analyst Rating™ for the Henderson High Income Trust to from “Under Review” to “Neutral”.
Prior to being placed Under Review, the fund held a Bronze rating.
David Holder, senior manager research analyst at Morningstar, comments: “Following a recent Morningstar Analyst ratings meeting, we have moved the Henderson High Income Trust to a Morningstar Analyst Rating of Neutral. The fund’s rating was Under Review following a change of manager.
“Prior to being placed Under Review, the fund held a Bronze rating. David Smith was appointed manager of the fund in July 2015 having previously co-managed the fund with Alex Crooke since January 2014.
“We believe David to be a talented albeit relatively inexperienced fund manager and he is well supported within the experienced Global Equity Income team at Henderson.
“However, we feel at this stage that it is prudent to downgrade the fund’s rating to reflect the reduced role that the previous long standing fund manager Alex Crooke will play in the future management of this fund.”