Henderson, the UK asset manager is winding up its £37m Luxembourg-based Henderson Horizon Global Currency fund, which is regulated under the European Union??s Ucits III directive, as well as its £10m Henderson Global Currency fund, a hedge fund domiciled in the Cayman Islands.
The five-strong team, which includes Bob Arends, the head of currency, are all leaving the firm as a result of the decision to close the offering on October 31.
The team, which is based in Amsterdam, were hired from Fortis Bank, where Arends was global head of currency, in January 2009.
Henderson was also set to launch an Emerging Markets Currency fund this year, for Arends during the second half of the year but this will not go ahead.
A spokesman for Henderson says: ??We have decided to close our quantitative currency strategy. We arrived at this decision in conjunction with the team after thorough consideration.
??The Henderson Global Currency Fund Ucits III Sicav and Henderson Horizon Global Currency fund will be liquidated and cash will be returned to shareholders.?
