View more on these topics

Henderson reports £2bn asset drop in Q3

Henderson-Global-Investors-Office-700x450.jpg

Fund manager Henderson saw outflows of almost £2bn for the third quarter of this year because of negative market returns, although retail net inflows helped stem losses.

In its third quarter results, published today, the firm saw net inflows of £1.3bn, but total flows were “more than offset” by market and FX losses of £1.9bn.

Net flows into the firm’s SICAVs were at £600m for the period, with the Gartmore UK Absolute Return and Henderson Gartmore Continental European funds the top selling vehicles in the quarter.

Meanwhile, net flows into the UK retail ranges remained consistent with previous quarters at £400m. Income and absolute return funds saw the strongest sales, particularly the UK Property Oeic, UK Absolute Return and Strategic Bond funds.

Henderson chief executive Andrew Formica says: “Henderson’s active fund management capabilities helped clients mitigate losses in a period of negative market returns. We continued to outperform in terms of investment performance and new business growth, and benefitted from being able to offer our clients a broad range of equity, fixed income and alternative investment strategies.”

Total assets under management declined slightly in the quarter to £81.5bn from £82.1bn as of June 2015.

Formica says: “We expect market conditions to remain challenging and regulatory oversight of asset managers to continue to intensify. That said, we continue to make good progress with our strategy to grow and diversify our business.”

In June, Henderson Group increased its assets by £5.6bn by purchasing two businesses and increasing its stake in another.

The asset manager bought the three businesses in Australia, to boost its Asian assets. It has bought Perennial Fixed Interest Partners, which has £4.2bn in assets, and Perennial Growth Management, which has £1.3bn in assets.

Recommended

Rookes-Caroline-MAS-2013-500x320.jpg
9

MAS: Why the Financial Capability Strategy will succeed

The Money Advice Service says its 10-year strategy to improve UK consumers’ financial capability will succeed where similar initiatives have failed. The MAS has today launched its Financial Capability Strategy which aims to improve consumers’ ability to manage money, save and deal with financial difficulties. Last month Money Marketing revealed former FSA chief executive Sir […]

UK-Currency-Money-Pound-GBP-620x413.jpg
9

MAS director on £200k a year exits

One of the Money Advice Service’s highest paid directors who earned over £200,000 last year has quit the organisation. Lesley Robinson joined the MAS in 2011 as UK debt advice and corporate services director. She became one of its highest paid members of staff, taking home more than £200,000 in 2014/15. Robinson earned a total […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com