View more on these topics

Henderson would opt for boutique buy over big firm

Henderson chief executive Andrew Formica says the firm is more likely to acquire a boutique rather than a big asset management business in the UK.

Formica says following the takeover of New Star in 2009, the firm is happy with its platform and distribution reach, meaning any future acquisitions would need to bring in new investment expertise.

He says: “A further acquisition in the UK would need to be complementary for us from an investment perspective. Areas like emerging markets interest us, as do property and commodities.”

Last week, Henderson posted a 79 per cent increase in profits for the first half to £48.5m from £27.1m in 2009.
Formica, who would not comment directly on speculation that Henderson is planning a bid for rival fund firm Gartmore, says the company is now far more interested in acquisitions in both the US and Asia.

He says the group plans to bolster its offering in the absolute return sector.

He says: “That remains a major focus for us. What we have seen with the market turmoil in the past couple of years is that investors do not want to wear the downside. We have offerings that can do that, for example, within the fixed-income range within our hedge funds, and the question is how do we bring them under the Ucits umbrella.”

Formica highlights emerging markets, global equity and global fixed products as three areas the group is keen to add if the opportunity arises.
He says: “The goal is that we should be a top five player in the UK retail space over three to five years for net and gross flows.”

Hargreaves Lansdown investment manager Ben Yearsley says: “They are probably lacking most in the UK fund range, with none of the acquired New Star team shooting out the lights.”


‘Over-optimism’ hits BlackRock UK absolute alpha fund performance

Mark Lyttleton, the manager of the £2 billion BlackRock UK absolute alpha fund, has expressed disappointment with its short-term performance but dismissed concerns about the size of the portfolio. He says over-optimism on valuations this year was the key factor in underperformance, with the vehicle’s net long positioning leaving it exposed as markets fell. Over […]

Company policies

There have been considerable changes to tax treatment of company-owned investment life insurance policies

Recording sickness absence cover - thumbnail

White paper — recording sickness absence

The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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