Henderson Investors has lost the management of its technology trust to Polar Capital Partners, set up by Brian Ashford-Russell and Tim Woolley, the former Henderson Investors tech stars.

The two fund managers were running the trust before leaving Henderson to set up their own boutique and the board of the trust has decided to stick with them. Paul Kleiser and Stuart O'Gorman, joining from Scottish Equitable to replace Ashford-Russell and Woolley, failed to convince Henderson Investors that they would be best to take over running the investment trust.