Henderson’s Pease moves to Crux
Richard Pease, manager of the Henderson European Special Situations Fund, is leaving for Crux Asset Management – and is exercising a contractual clause to take his fund with him.
Co-manager on the fund James Milne is also moving across, while an analyst will be appointed in coming months.
Pease has managed the fund since October 2009. The £1.1bn vehicle aims for long term capital growth by investing in European companies in special situations. The fund will be called FP Crux European Special Situations fund going forward, although a specific transfer date from Henderson is yet to be announced.
Crux is a new asset management business launched this year in the UK and involves chief executive Alistair Reid, formerly of Thornhill, and Mark Little supporting distribution – also formerly of Henderson – as well as marketing by Giles Kidd-May, formerly of Jupiter.
Reid said: “We are absolutely delighted that Richard has reached an agreement with Henderson that enables him to continue to manage his fund within a new environment. Richard and his team have an enviable reputation as one of the leading European fund management teams and it will provide great comfort to investors to know that the manager remains the same.”
Pease said: “I am delighted to be involved in the launch of a new business which will allow me to continue managing the portfolio that I have been responsible for since the autumn of 2009. The team and I are very excited about being involved in a business in which we can be involved in the augmentation of the structure and also work with like-minded people. Our focus will be on providing returns for our unit holders and in servicing them according to their expectations. As well as the investment team, Crux has proven management, marketing and distribution capabilities.”