Henderson Global Trust Plc’s lead portfolio manager, Brian O’Neill, is stepping down after running the investment trust for 30 years.
Wouter Volckaert, who joined from Morgan Stanley in September, will succeed O’Neill, the London-based firm said in a statement today. O’Neill, 66, will remain on Henderson’s global equities team.
Volckaert, who managed diversified global equity funds for Morgan Stanley since 2008, is likely to broaden the trust’s allocation away from large U.K. companies, Henderson said.
Eight of the trust’s top 10 holdings are U.K.-based, including Royal Dutch Shell Plc, Vodafone Group Plc, BP Plc and HSBC Holdings Plc, according to data compiled by Bloomberg. The trust, which started in 1929, has 163 million pounds ($267 million) of assets under management.
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