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Henderson retains 91 per cent of Gartmore assets

Henderson Group has reported that the integration of the Gartmore business has seen 91 per cent of Gartmore’s December 31, 2010, assets being retained.

In its latest trading update, the group reports that its total assets under management as at June 30, 2011, had jumped to £74.4 billion, up from £61.6 billion at the end of December.

Meanwhile, the group predicts underlying profits in the region of between £83m and £87m for the six months ending June 30. This compares with the £48.5m underlying profit reported for the first half of 2010.

However, Henderson does report a large amount of outflows for the six months. Net inflows of £575m into Henderson retail were reportedly offset by net outflows of £290m from Gartmore retail, £148m from Gartmore institutional, £2.6 billion from Henderson institutional and £407m from Phoenix.

In a trading statement today, the group indicated it predicts the level of performance fees to be substantially lower in this second half of 2011 than for the first based on “lower performance fee potential.”


Coventry Intermediaries launches fixed range with no ERCs

Coventry Intermediaries has launched a number of new fixed rate deals with no early repayment charges. Customers can choose between various two, three and five-year products, between 50 and 85 per cent and rates start from 2.99 per cent. The range includes a 2.99 per cent two-year fixed rate at 65 per cent LTV as […]


Transparency of charges is the key to pension success

The oft-maligned stakeholder pensions are responsible for reducing pension charges and improving the clarity and transparency of charges. Transparency of charges can only be a good thing. It is one benefit, I believe, of the introduction, 10 years ago, of stakeholder pensions. With the impending arrival of auto-enrolment, savers will require more information than ever […]

Barclays launches FirstBuy mortgages from 4.59%

Barclays is to reduce rates its Woolwich fixed and tracker mortgages by up to 0.5 per cent and will launch two new products designed for first-time buyers using the Government’s FirstBuy scheme. First-time buyers purchasing a house under the FirstBuy Direct scheme will have a choice of a Woolwich three-year fixed rate mortgage at 4.59 […]

Can mortgage clubs survive?

The acquisition of The Mortgage Alliance by LSL Property Services last week is the latest in a series of changes affecting the distribution of mortgages but industry experts agree that mortgage clubs will only be able to survive if they are part of an organisation with scale. The acquisition sees £250,000 of assets and the […]

Bonds going bust? Not so fast….

In recent months bond bears have been reinvigorated, and market commentary suggesting “the end of the bond (bull) market is near” has become commonplace. We think these comments are premature. Explaining the global government bond sell-off October has seen renewed pressure on global government bonds, initially provoked by a Bloomberg article suggesting that the ECB […]


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