Portfolio Manager Change

HENDERSON ALTERNATIVE STRATEGIES TRUST PLC

HENDERSON INVESTMENT FUNDS LTD

LEGAL ENTITY IDENTIFIER: 213800J6LLOCA3CUDF69

1 May 2018

HENDERSON ALTERNATIVE STRATEGIES TRUST PLC (the "Company")

Investment Manager

Ian Barrass, co-fund manager of Henderson Alternative Strategies Trust plc, has informed the Company's Board that he has decided to retire from Janus Henderson Investors at the end of June 2018 due to the cumulative effect of a very long-standing health issue.

James de Bunsen, who has been the Company's co-fund manager since May 2014, will continue in his role. Peter Webster, who has worked directly with both Ian and James for over four years, will become co-manager with James following Ian's retirement.

The Board is saddened by the news with regard to Ian and thanks him for his valued contribution to the Company's successful portfolio restructuring since Janus Henderson Investors assumed the Company's investment mandate in April 2013. The Board is pleased to note, however, that due to the depth of resource available to Janus Henderson Investors, the co-fund management team of James and Peter provides the Company with an appropriate level of continuity, quality and relevant expertise.

The Board will be providing a full update on the Company's performance at the time of the results announcement for the six-month period to 31 March 2018. This will be released to the market during the week commencing 14 May 2018.

For further information please contact:

James de Sausmarez

Director and Head of Investment Trusts

Henderson Investment Funds Limited

Telephone: 020 7818 3349

James de Bunsen

Fund Manager

Henderson Alternative Strategies Trust plc

Telephone: 020 7818 3869

Ian Barrass

Fund Manager

Henderson Alternative Strategies Trust plc

Telephone: 020 7818 2964