Henderson Global Investors has announced that Mark Harris and Craig Heron are to leave as part of plans to merge five multi-manager funds.

The departures will see deputy head of equities Bill McQuaker take over management of their funds and becomes head of multi-manager.

McQuaker said, 'This is an opportunity to make our range of multi-manager funds more relevant to investors.

'The primary focus for the six-strong Henderson multi-manager team will be on what we believe are the key sectors for multi-manager funds; Active, Balanced and Cautious Managed.

He added, 'Funds in these sectors form the core of many investors’ long-term portfolios.'

The proposed fund mergers are subject to FSA and investor approval. If approved, funds are scheduled to merge in mid May 2011.

The Henderson American Portfolio will be merged into its North American Enhanced Equity fund, managed by Robert Villiers.

The Henderson Asia Portfolio will be merged into the Asia Pacific Capital Growth fund managed by Andrew Beal.

The Henderson European Portfolio will be merged into the European Growth
Fund managed by Richard Pease.

The Multi-Manager Tactical and Multi-Manager Balanced funds will be merged into the Mutli-Manager Active and Multi-Manager Managed funds, respectively.

McQuaker has also taken over management of the Cautious Portfolio Unit Trust which is set to be merged into the Multi-Manager Income & Growth fund.