Chicago-based fund manager Henderson Global Investors is revoking its £47 million international currency offering, FundWeb reports. It consists of £36.7 million Henderson Horizon Global Currency, a Luxembourg-domiciled Ucits III fund, and £10 million Ucits III Henderson Global Currency, a Cayman Island-domiciled hedge fund.
The five-member team of managers, which includes head of currency Bob Arends, is quitting following the decision of the firm to call off the offering. Based in Amsterdam, the team was hired from Netherlands-based lender Fortis Bank in January 2009. The offering will be withdrawn on October 31 and shareholders will be given back their cash.
Click here for the story from FundWeb.