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Henderson UK Property

Elite Rated by FundCalibre

Providing core exposure to the UK commercial property market, the fund invests in physical property, but with a significant allocation to cash for liquidity purposes. The fund managers’ primary concern is to provide an attractive and stable income, which sets it apart from some of its peers.

Company Description

Janus Henderson is the product of a merger between Henderson Group and Janus Capital Group. Trading on the New York and Australian stock exchanges, the group was formed in May 2017 to form a greater collective and benefit from expanded product ranges and a larger pool of talent employed.

Factsheet_janus_henderson_logo

Fund Manager

This fund has been jointly managed by Ainslie McLennan and Marcus Langlands Pearse since mid 2009. Marcus has been in the industry since 1991 and Ainslie joined Henderson in 2002. Both have extensive experience running commercial property funds that invest directly and indirectly in the UK and European markets.

Factsheet_mclennan

With volatility likely to remain in other asset classes, commercial property remains attractive for income and diversification purposes.

Ainslie McLennan - Fund Manager

The Investment Process

With the emphasis on providing a high and stable yield, the managers focus on finding high quality tenants and securing long leases. These tend to be firms with stable or growing businesses, where the medium to long-term prospects for the industry are good. The fund tends to have a south-east bias.

Risk

The fund is well diversified across different regions and sectors, and a significant portion of the fund’s leases are linked to inflation, which will offer some protection from inflationary risk. As the fund does invest in physical property, the performance of the fund may suffer if there are large redemptions.

Our Opinion

Put into practice, the managers’ strategy has resulted in the fund having one of the highest occupancy rates in the sector which, as a consequence, has seen the fund have a yield that is consistently near the top of the sector. This fund may be appropriate for investors wanting core UK property exposure, with an attractive and sustainable yield.

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