Henderson sees £1.2bn fall in AUM in first quarter
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Henderson Group has seen its assets under management fall by £1.2bn in the first quarter of 2011.
The group’s assets fell from £61.7bn to £60.5bn after the group transferred £1.5bn of cash fund assets to DB Advisors.
Henderson Group has reported £319m worth of net inflows into its retail funds in the first quarter of 2011. The UK retail arm saw £285m of net inflows, through the likes of its long dated credit, credit alpha, strategic bond and multi-manager funds. The group also £97m of net inflows into its retail absolute return funds.
Henderson’s acquisition of Gartmore means the firm now had a total of £76.2bn of pro-forma assets under management at March 31, 2011. Henderson expects most of the Gartmore integration plans to be concluded by the third quarter of 2011.
Henderson Group chief executive Andrew Formica says: “Although markets ended broadly unchanged over the period, this masks continued volatility. Notwithstanding this volatility, we had good net inflows into our absolute return funds and in our retail funds, including a notable increase in our UK retail fund range. I remain encouraged by our business performance since the end of the period.
“We completed the acquisition of Gartmore at the beginning of April and the integration is well advanced with all staff working on our systems and following our processes. I am pleased with the pace of the integration which is both ahead of our plans and our previous experience from New Star.”
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