Henderson closes vaunted SRI departmentFebruary 2012
Henderson Global Investors’ respected SRI team is being disbanded as part of the company’s restructuring.
Henderson says it no longer wants a separate department running SRI funds, which include Henderson Global Care Growth and Industries of the Future, and will pass it to other managers using outsourced research from Eiris.
The decision has shocked the SRI industry and could augur badly for other sustainable investment specialists.
The entire team, which had around £800m ($1.22bn, €968m) assets under management, could be made redundant.
A former Henderson head of SRI business development, Mark Capanale, called the decision “just awful, short-sighted thinking”. He said: “At a time when the City’s own ethics are in question, it doesn’t bode well that Henderson responds by giving civil society and its clients the finger.”
The decision appears to be a cost-saving measure and is regarded by some as an indication of the precarious position of SRI during a continuing economic crisis.
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