Winner ShortliSt - Henderson Global Investors

www.professionalpensions.com UK Pensions Awards 2011 37
Multi-Asset Manager of the Year
Henderson Global Investors’ Jane Shoemake accepts the award from Aon Hewitt’s Andy Cox and Kevin Bridges
ShortliSt
Baring Asset Management
henderson Global investors
Morgan Stanley investment Management
neptune investment Management
newton investment Management
Schroders
Standard life investments
Winner

38 UK Pensions Awards 2011 www.professionalpensions.com
Multi-Asset Manager of the Year
Extract from original submission
In response to a growing need from pension schemes for vehicles
that provide attractive equity like returns with lower than equity
market volatility, Henderson launched its Diversified Growth
Fund in July 2010.
The fund is designed to have significant exposure to true alternative
assets (38.6% at 29.10.2010) – with the alternatives allocation
providing clients with exposure to various types of hedge
funds, private equity, property, commodities and secured loans,
which can lead to lower volatility.
Henderson has been managing Diversified Growth strategies
on a segregated basis since 2007, which coincided with one of the
toughest periods for asset allocation driven strategies for more
than 30 years. Despite this, it returned 9.6% over the 12 months
to October 2010* and 24.1% since inception of the strategy**,
over a variety of market conditions – both bull and bear markets.
It is proud of the fact it has protected capital when markets
have been extremely difficult but has also made money when
they have recovered – outperforming a range of asset classes.
Henderson believes transparency and clear risk analysis is an
Judge’s comment
“Best explanation of risk mitigation”
Contact details
Henderson Global Investors
201 Bishopsgate
London
EC2M 3AE
Tel: 020 7818 5872
Email: european.institutional@henderson.com
www.henderson.com
important client requirement and, during 2010, adopted a new
risk system with the ability to accurately monitor the risk profile
of the diversified growth strategy and specifically to meet these
demands.
The system helps Henderson’s fund managers and risk team by
offering risk budgeting, portfolio construction and optimisation
analysis if desired, enabling them to understand the key factor
sensitivities and to uncover tail risk contributors and diversifiers
alongside with potential opportunities in the tail return.
In addition to this, Henderson hosts an annual trustee educational
event which is structured to provide training for both new
and experienced trustees as well as providing insight into topical
subjects. It is also planning a diversified growth seminar, which
will consist of external and internal speakers.
* Source: Henderson Global Investors. Data from 31.10.2009 to 31.10.2010, gross of
fees, in Sterling
** Source: Henderson Global Investors. Data from 31.7.2007 to 31.1.2011, gross of
fees, cumulative, in Sterling
Judge’s comment
“Development of a DC friendly diversified
growth strategy”

40 UK Pensions Awards 2011 www.professionalpensions.com
Multi-Asset Manager of the Year
Interview – Jane Shoemake
What does it mean to win this award?
It is a tremendous achievement to receive this award. The management
of Multi-Asset portfolios has evolved considerably in recent
years with investment managers offering a variety of structures
and investment objectives. We launched our Diversified Growth
strategy in 2007 for our pension scheme and having achieved
attractive results for clients invested on a segregated basis, we
are delighted to receive independent acknowledgement. With the
recent launch of two Diversified Growth pooled funds – one of
which is suitable for Defined Contribution schemes and the other
for Defined Benefit schemes – and the receipt of one of the most
prestigious awards given by the UK pensions industry, we look forward
to continuing our success in this area.
What do you believe set you apart from your peers to help
you win this award?
With the support of clients and consultants, we have built a
strategy that allows sufficient flexibility to position the portfolio
according to the market environment while also providing access
to true alternatives, which may in practice be unavailable to some
pension schemes. Coupled with the skill of the team, this has enabled
us to deliver equity-like returns with bond-like volatility in
what has been one of the most volatile periods for markets since
the 1930s. Our Diversified Growth strategy, together with a liability
hedging structure, has not only protected clients from downside
risk but also helped improve their funding status. We are delighted
to have been able to deliver for our clients in this way.
What are the key challenges facing your pension scheme
clients and how are you helping them address them?
The market volatility we have witnessed since the global credit
crisis has meant that our clients have become more focused on
the composition of their portfolio and how this interacts with their
liabilities. Henderson offers clients access to expertise across equities,
fixed income, property and private equity, with the recent
acquisition of Gartmore enhancing the breadth of our investment
capability. The Diversified Growth strategy is able to invest in a
range of funds, although primarily we invest internally as we are
able to achieve our desired asset mix in a cost-efficient manner
through our regional, sector and style-related funds. As such, we
are well placed to help clients as they seek to build portfolios to
Jane Shoemake, diversified growth investment director at
henderson Global investors
manage a more volatile environment.
The continued closure of Defined Benefit pension schemes
to future accrual has meant that pension fund trustees continue
to focus more on the investment options available to Defined
Contribution (DC) members. Diversified Growth is growing in
popularity as the default option and in recognition of this trend,
Henderson launched a DC-friendly version of our Diversified
Growth strategy. This provides DC members with the opportunity
to invest in a fund that offers exposure to alternative asset classes
but with daily pricing.
How will you continue to further improve your services to
pension scheme clients over the coming 12 months?
At Henderson we are focused on delivering first class investment
performance and client service. In terms of our Diversified Growth
strategy, we believe it is particularly important to ensure we keep
clients updated on investment strategy and the team’s views so
that they are comfortable with, and understand, the fund’s positioning.
We remain committed to offering tailored investment
solutions to meet our clients needs now, and as they evolve in the
future.
Issued in the UK by Henderson Global Investors. Henderson Global Investors is the name under which Henderson Global Investors Limited (reg. no. 906355), Henderson Fund
Management Limited (reg. no. 2607112), Henderson Investment Funds Limited (reg. no. 2678531), Henderson Investment Management Limited (reg. no. 1795354), Henderson
Alternative Investment Advisor Limited (reg. no. 962757), Henderson Equity Partners Limited (reg. no.2606646), (each incorporated and registered in England and Wales with
registered office at 201 Bishopsgate, London EC2M 3AE), Gartmore Investment Limited (reg. no. 1508030), Gartmore Fund Managers Limited (reg. no. 1137353), (each incorporated
and registered in England and Wales with registered office 8 Fenchurch Place, London EC3M 4PB) are authorised and regulated by the Financial Services Authority to
provide investment products and services. Telephone calls may be recorded and monitored.