Henderson Japan gains 4% in April


Strong alpha generation on both the long and the short books took the Henderson Japan Select Absolute Return Fund up 4.09% in April, and 13.96% year-to-date. Top performers included IT Holdings, Hitachi, and Dai-Ichi Mutual Life, up 20%, 19% and 15%, respectively. The fund has a slightly higher level of conviction than Henderson’s hard-closed flagship Japan Absolute Return Fund, with slightly fewer positions and more gross exposure at work, but they share the same stock picking process and a double-alpha generation strategy, with all short-side gains derived from single stocks.

In April portfolio managers William Garnett and Jeremy Hall