RNS Number:0185S
Henderson Absolute Rtn Portfolio Ld
13 November 2003


Net Asset Value price as at 31st
October 2003

Ordinary Shares =                      105.43 pence

Portfolio as at 31st October 2003

Fund                                   Manager                    Weight

Modulus Europe                         Powe Capital Management       9.9%
Lansdowne UK Equity Fund               Lansdowne Partners            9.2%
Crescendo European Fund                Threadneedle                  7.9%
Polar Capital Market Neutral           Polar Capital                 7.3%
Thames River Kingsway                  Thames River                  7.2%
SVM Highlander Fund                    Scottish Value Mgmt           6.7%
Jupiter Hyde Park Hedge Fund           Jupiter                       6.4%
Martin Currie Japan Absolute Return    Martin Currie                 6.2%
Fund
Henderson European Absolute Return     Henderson Global              5.8%
Fund                                   Investors
Henderson Japan Absolute Return Fund   Henderson Global              4.2%
                                       Investors
Old Mutual UK Specialist Fund          Old Mutual Asset              3.9%
                                       Management
Henderson Asia Pacific Absolute Return Henderson Global              3.9%
Fund                                   Investors
Martin Currie UK Absolute Return       Martin Currie                 3.1%
Fund
Thames River Edo Limited               Thames River                  3.0%
Liontrust Absolute Return Fund         Liontrust Investment          3.0%
                                       Services
JPMF Europe Equity Market Neutral      JPMorgan Fleming              2.8%
Fund
Lindsell Train Japan Fund              Lindsell Train                2.5%


Total Invested                                                      93.0%
Cash                                                                 7.0%

                               Total                               100.0%

Enquiries:
John Husselbee: Portfolio Manager - Head of Multi Manager
Investment
Stephen Westwood: Head of Investment
Trusts
Henderson Global Investors 0207 818
1818
































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