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Henderson gives details on Henderson High Yield Opportunities Fund
By Toni Weeks
San Luis Obispo, Calif., April 22 - Henderson Global Funds announced more details for its upcoming new Henderson High Yield Opportunities Fund, according to an N-1A filing with the Securities and Exchange Commission.
The fund will seek total return with current income as a secondary objective by investing at least 80% of its net assets in high-yield securities rated at time of purchase. Investments will be primarily in high-yield corporate bonds but also may include loans, municipal bonds, mortgage-backed and asset-backed securities, convertible securities, preferred stocks and common stocks. The fund may invest in investment-grade fixed-income securities, and it may invest up to 25% of its net assets in debt securities of foreign issuers or denominated in foreign currency, including emerging market countries.
Kevin Loome will be the fund's portfolio manager.
The fund is expected to launch on April 30 with class A, class C and class I shares. The ticker symbols will be HYOAX, HYOCX and HYOIX, respectively.
Class C shares will have a 1% maximum deferred sales charge, and class A shares will be subject to a 4.75% maximum sales charge.
Chicago-based Henderson Global Investors (North America) Inc., the investment adviser to the fund, has agreed to waive its management fee and, if necessary, reimburse other operating expenses until July 31, 2020 in order to limit total annual ordinary operating expenses, less distribution and service fees, to 0.85% of the fund's average daily net assets.
Taking this agreement into account, and including management fees of 0.65%, total annual fund operating expenses are expected to be 1.1% for class A, 1.85% for class C and 0.85% for class I shares.
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