FCA fines Henderson £1.9m for charging fees on 'closet tracker' funds

On the 11.20.19 at 4:20PM


Tuba Raqshan

UK regulator Financial Conduct Authority (FCA) has levied a £1.9m fine on Henderson Investment Funds Limited (HIFL) for charging retail investors fees on ‘closet tracker’ funds.

More than 4,500 retail investors in the Henderson Japan Enhanced Equity Fund and the Henderson North American Enhanced Equity Fund (the Japan and North American Funds) were charged active management fees on ‘closer tracker’ funds

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