TECHNOLOGY EXPERTS AS WELL

(Fundsupermart.com) Henderson Global Investors says it has found replacements for the managers that are leaving its highly successful Global Technology Fund. Tim Woolley and Brian Ashford-Russell resigned several months ago to set up their own boutique fund house, and will be officially leaving the company at year end. Taking over their place will also be two experts in technology stocks, Paul Kleiser and Stuart O'Gorman. Both were managing technology funds at Scottish Equitable in Edinburgh, Scotland. One of the products they managed, the Scottish Equitable Technology Fund, is currently the best performing UK-based technology fund over a 5-year period, according to Henderson.

Commenting on the appointment, Chief Investment Officer for International Funds at Henderson, Iain Clark says: "We are obviously delighted to have attracted one of the UK's most successful technology management teams?Paul and Stuart's experience and proven track record will ensure that Henderson Global Investors retains and builds its position as a leading global technology manager." Managing Director Of Henderson Singapore, Alex Henderson chimes: "The new duo's management style and culture is complementary to that of the existing team. They use a bottom-up stock selection process that uses top-down themes and share a long-term approach to investing in technology and a strong focus on managing risk. Given their current 5-year track record, they have clearly demonstrated that they can manage technology funds through different market cycles. This experience is especially relevant in today's volatile market."

SNAPSHOT OF NEW MANAGERS

A highly experienced fund manager, Paul Kleiser is a graduate of Edinburgh University and joined Scottish Equitable in 1971. He moved to the UK desk in 1978 and has specialised in US shares since 1981 and technology stocks since 1985.

Stuart O'Gorman is a graduate of Dundee University and joined Scottish Equitable's US desk in September 1996, and specialises in the technology sector.

Stuart O'Gorman will join at the end of December and Paul Kleiser will come on board early in the New Year.

DOUBLE-EDGED SWORD

The Henderson Global Technology Fund has been one of the best selling unit trusts here. As at 17 Nov 2000, the fund returned 288% over a 2-year period (Micropal). But the success of the fund has also been a double-edged sword for the company. In a recent interview with Fundsupermart, Alex Henderson lamented that beyond the tech fund, few investors here would know what Henderson stood for. "The way Henderson has grown its name here, has been by default of its technology fund. So one of the things the board will be addressing is raising our profile as a global fund manager. And we are going to raise our investment capability by bringing products more quickly into the Singapore market." He revealed that plans were underway to reposition the company in Singapore, and that there would be a marketing campaign to showcase a more multi-faceted Henderson.

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