Ben Pakenham to join investment management company

Henderson New Star has appointed Ben Pakenham to one of its senior investment management jobs.

Mr Pakenham will become co-manager of the company's New Star Extra High Yield Bond and New Star High Yield Bond funds.

He will report to Henderson's director of fixed income James Gledhill. Portfolio Adviser estimates the Extra High Yield Fund to be worth £164 million and its High Yield Bond fund is said to be worth £235 million.

Mr Pakenham, along with Mr Gledhill, moved to Henderson Global Investors as part of the company's buy-out of New Star Asset Management. He began his career at New Star involved in the management of those funds as a high yield analyst.

Henderson Global Investors acquired New Star Asset Management in late January 2009 for around £115 million making it the fifth largest retail fund manager in the UK.

The investment management company was said to have assets in excess of £50 billion and employs around 940 people.

According to Citywire, UK-based Henderson New Star's entire bond team manages a total of more than £2.7 billion.

Updated: 09 March 2010.
Categories: banking-and-financial-services, market-and-industry-news.