Amalgamation of Henderson Funds

Proposed Merger of the Henderson High Yield Monthly Income Fund with the Henderson Fixed Interest Monthly Income Fund

Henderson Global Investors are proposing to merge the Henderson High Yield Income Fund with the Henderson Fixed Interest Monthly Income Fund. The reason for this merger is due to the fact that the two funds share a lot of similarities namely:

Both funds invest predominantly in fixed income securities to deliver returns to investors,

Both funds distribute their income on a regular basis

Both funds are managed by the same fund management team

In addition, since both funds are managed by John Pattullo and Jenna Barnard, a merger would avoid duplication of the manager time and allow greater focus on investment management.

Implementation of the proposed merger depends on the passing of an extraordinary resolution at an Extraordinary General Meeting to be held on 12 April 2012. It is important to note that the merged fund will hold more assets and as a result the manager will be able to further diversify the underlying bonds held within the fund.

 If approved, the merger becomes effective on 4 May 2012.

Once approved, you as an investor will receive new units in the Henderson Fixed Interest Monthly Income Fund on 4 May 2012 and following this, a letter confirming your new holding will be sent to you. Investors will receive Income units corresponding to the type of shares they currently hold. Your holding in the new fund will have the same value immediately post merger although the number of units held could differ owing to the price differences between the funds, depending in which currency you investment is held. Investors will incur no charges connected to the merger. The old Euro Share Class fund will pay out its final dividend on 31st May 2012 as opposed to 30th June 2012. The income distribution dates of the new Euro Share Class fund will be on 31st July, 31st October, 31st January and 30th April.

If you have any queries about the proposal or require any further information, please do not hesitate to contact us on free phone 8007 2206 or visit one of our branches in Valletta, B’Kara, and Ta’Xbiex.