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Key investment Risks to be considered before investing

The Fund primarily invests in equity securities and equity instruments of technology related companies globally.
Investments in the Fund are exposed to technology sector-specific risks and varying degree of risks to economic, political, regulatory and social development changes globally.
The Fund may invest substantial sum of its assets in companies located in a single country (including emerging market, eg. China) and may involve a higher concentration of risk and market volatility, including liquidity risks for investments in emerging markets, than funds investing in developed markets and following a more diversified policy.
Investments in the Fund involve varying degree of investment risks (eg. market, legal, financial, interest rate, currency, etc). In extreme market conditions, you may lose your entire investment in the Fund.

Note: Investors should not only base on marketingmaterial alone to make investment decisions. Investors are advised toread the Prospectus and Offering Document of the Fund for more detailsof the investment risks.

Why Technology

The technology sector has been less volatile than the overall market. The 3 year beta of the MSCI All World Technology sector is 0.94 vs MSCI All Countries World Index (Source: Bloomberg as at 31 Oct 2011)
Technology is the only sector in the S&P 500 with net cash on the balance sheets given the defensiveness nature of technology business models and the cleanliness of their balance sheets

Opportunities

We believe that technological innovation generates powerful investment themes and hence the investment process combines a thematic approach in tandem with stock selection skills. We seek to identify investment opportunities where:

Major technological/structural barriers to entry exist

Growth will be higher or persist longer than assumed by the market

Value is underappreciated

In terms of the outlook, while economic prospects remain unpredictable in both the US and on a global level, we believe technology offers both attractive valuations and good growth prospects. The latter will be driven by a continuing recovery in corporate IT spending, in addition to the favourable secular trends described above. The Henderson Horizon Global Technology Fund is an index-aware fund, with a focus on bottom-up stock selection (i.e. companies with strong barriers to entry).

Why Henderson?

The Henderson Global Technology Fund: How is it different from the rest?

Henderson has managed specialist technology assets since 1983
The Henderson Horizon Fund - Global Technology Fund is managed by a highly experienced specialist team (one of the largest in Europe with over US$3.1 billion in assets under management*) with a history of outperformance
At Henderson, our technology team aims to identify under-appreciated, long-term growth niche sectors within the technology market and to select high quality, profitable companies that continually innovate.
A global diversified portfolio of technology related companies.
A bottom-up and thematic investment approach, with valuation focus
Ranked top quartile over 3, 5 and 10 years** , Morningstar 4 stars, Standard & Poor’s AA ratings***

*Source: Micropal, Henderson Global Investors, 31 October 2011.

**Source: Henderson Global Investors / Morningstar’s Workstation v4.0, gross income reinvested at NAV price, NAV to NAV, in USD, as at 30 November 2011.

***Source: Morningstar and Standard & Poor’s as at 30 November 2011.

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Latest news

Facebook and Apple contrasted by Ian Warmerdam
10 February 2012
Latest thoughts on Technology by Stuart O’Gorman
12 October 2011
Reaction to the sharp falls in equities last week by Bill McQuaker
8 August 2011
Asia Pacific Property Update
10 June 2011

Important Information

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Henderson Global Investors (Hong Kong) Limited and its affiliates are referred to herein as Henderson Global Investors. This website is intended for residents in Hong Kong only. Non-Hong Kong residents are responsible for observing all applicable laws and regulations of their relevant jurisdictions before accessing the information contained herein. While this website provides information on Henderson Global Investors products, such information should not be regarded as an offer or a solicitation of any offer to buy or sell any of such investments. The information contained in this website is obtained and / or compiled from sources believed to be reliable and current. However, Henderson Global Investors cannot and does not warrant, guarantee or represent, either expressly or impliedly, the accuracy, validity or completeness of such information. Henderson Global Investors or any directors or employees or representatives of Henderson Global Investors shall not be liable for (whether in tort or contract or otherwise) any damages arising from any person's reliance on this information and shall not be liable for any errors or omissions (including but not limited to errors or omissions made by third party sources) in this information. The information contained in this website should not be regarded as a substitute for the exercise of your own judgement. Any information and views provided herein is subject to change without further notice. None of the material, nor its content, nor any copy of it, maybe altered in any way, transmitted to, copied or distributed to any other party, without prior express written permission of Henderson Global Investors.

Investment involves risks, including the possible loss of the principal amount invested. The value of the units and the income from the funds may fall as well as rise. Past performance of any manager and/or fund and any opinions, forecasts, assumptions, estimates made are not necessarily indicative of the future or likely performance of the manager and/or fund. You should note that the information provided herein may not have set out all the risks and other significant aspects involved in investing in any Henderson Global Investors products mentioned herein and should therefore read the Prospectus and Offering Document of the Henderson Horizon Fund (the “Fund”) for more details of the investment risks. The Prospectus and Offering Document of the Fund are available and may be obtained from the Hong Kong representative and the participating distributors' offices or branches.

The Fund may not be suitable for all investors. You should not invest unless the financial intermediary which offers you the sub-funds has advised you that the sub-funds are suitable for you and has explained why and how investing in the sub-funds would be consistent with your investment objectives. If you are in any doubt, you should seek independent advice and consult your stockbroker, bank manager, solicitor, accountant or other financial adviser.