Henderson announces launch of Henderson High Yield Opportunities Fund

By Toni Weeks

San Luis Obispo, Calif., April 30 - Henderson Global Investors announced in a press release that it has launched the Henderson High Yield Opportunities Fund.

The fund will be managed by Henderson's six-member U.S. credit team, which is headed by Kevin Loome. The team joined Henderson recently from Delaware Investments, and this is the first fund developed for them, the release noted.

As previously reported, 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 up to 20% of its assets 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 currencies, including emerging market countries. The fund's portfolio will consist of 50 to 100 holdings.

"The combination of our investment approach, underpinned by fundamental and proprietary credit research, and our global team's close collaboration allows us to construct a focused 'best-ideas' portfolio of high-yield bonds and select investment-grade securities from issuers all over the world," Loome said in the release. "At a time when interest rates are hovering at historic lows, Henderson is offering investors access to the most attractive high-yield securities from across the globe."

According to a previous N-1A filing with the Securities and Exchange Commission, the fund offers class A, class C and class I shares. The ticker symbols are HYOAX, HYOCX and HYOIX, respectively.

Class C shares have a 1% maximum deferred sales charge, and class A shares are 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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