Nicholas Ware

Nicholas Ware is a Portfolio Manager at Janus Henderson Investors, a position he has held since 2018. Nicholas joined Henderson as a director of loans in 2009 and became a director of strategic fixed income in 2012. From 2005 to 2009, he was a senior portfolio analyst at credit hedge fund manager Highland Capital Management, where he helped build its European business. In 2004, he joined New Amsterdam Capital Management as a senior credit analyst. Prior to that, he worked at Ahli United Bank (UK) originating small and mid-market private equity transactions from 2002 to 2004. Nicholas spent 2000 to 2002 at SEB Merchant Bank originating senior and mezzanine transactions in the Nordic market. He was with Ford Credit, where he was responsible for establishing its subsidiary in Sweden, for two years before SEB Merchant Bank. He began his career in 1995 at PricewaterhouseCoopers and qualified as a Chartered Accountant.
Nicholas graduated with a BA degree (Hons) in business studies from Bournemouth University. He is a qualified Chartered Accountant and has 25 years of financial industry experience.
Products Managed
Articles Written

Steady and predictable income – The Henderson Diversified Income way
A reliable approach to income Over the past year, bond yields have risen significantly, lifting fixed income return expectations to their most attractive point in well over a decade. Some non-investment grade bonds are yielding north of 8.0% – a rate that seems compelling following years of lacklustre bond returns. As such, some investors have

High quality bonds are primed to bloom in 2023
The titan arum only flowers occasionally, but when it does, the results are impressive; high quality bonds could be set for a similar display in 2023.

Henderson Diversified Income Trust – Q3 Commentary 2022
John Pattullo, Jenna Barnard and Nicholas Ware, Portfolio Managers of Henderson Diversified Income Trust, provide an update on the Company, highlighting factors currently impacting fixed income markets, the key drivers of performance, and recent portfolio activity.
Are bonds making a comeback?
Nicholas Ware, Co-Portfolio Manager of Henderson Diversified Income Trust, talks about the Company’s performance year-to-date, areas where he is finding opportunities and how he is navigating interest rate and inflation risk in a volatile market environment.
Henderson Diversified Income Trust
Portfolio Managers of Henderson Diversified Income Trust, Jenna Barnard and Nicholas Ware deliver the 2022 Annual General Meeting presentation to shareholders. They cover the Company’s performance over the last financial year, areas where they are finding opportunities, and highlight how they are navigating interest rate and inflation risk in a volatile market environment.

ESG hard-coded in Henderson Diversified Income’s DNA
While Environmental, Social and Governance (ESG) assessments of companies have only become a mainstay within investment processes in recent years, analyses of these risks have long been embedded in Henderson Diversified Income’s ‘sensible income’ approach. Here, we find out how the company has ESG analysis at the core of its investment process.
Henderson Diversified Income Trust
John Pattullo, Fund Manager and Nicholas Ware, Portfolio Manager, of the Henderson Diversified Income Trust, present their AGM shareholder presentation. This presentation covers the Trust’s performance over the last financial year, the managers macro view and the portfolio’s positioning.
Trust TV: Henderson Diversified Income Trust – 10 years of income seeking
Nicholas Ware, portfolio manager of Henderson Diversified Income Trust reflects on the opportunities and headwinds he’s experienced in looking to deliver an income-focused return over the past decade, and how the portfolio is positioned to take advantage of the prevailing market conditions over the next 12 months.
Trust Radio Episode 4 – the pursuit of income
This episode, Laura Thomas is joined by Ben Lofthouse and Nicholas Ware, to discuss their pursuit of income, by exploring promising sectors, consumer spending and economic cycles.
Doing what we do best – sensible and sustainable income
Nicholas Ware, Portfolio Manager, discusses the specific stocks behind Henderson Diversified Income Trusts strong performance and highlights the markets where he and the team are finding the best opportunities for the Trust.

Is there a solvency crisis looming in credit markets?
Jenna Barnard, Co-Head of Strategic Fixed Income, and Nick Ware, Portfolio Manager, counter the bear argument that credit is set to face a solvency crisis by explaining that liquidity is solvency.

Breaking the link: GDP declines and default rates
Jenna Barnard and Nicholas Ware, Portfolio Managers in the Strategic Fixed Income Team, muse over how low corporate default rates may prove to be despite the pandemic-induced economic shock.