Henderson Global Investors is making a bid to throw out Dresdner RCM as manager of a £423m (€687m) investment trust, the Charter European Trust, as part of a detailed scheme of rearrangement.

Henderson, advised by Intelli Corporate Finance, has already gained the support of three of Charter European's largest shareholders, who collectively own 29.2% of the trust. With this backing it has proposed the scheme directly to the board of Charter European.