24th Apr 2014 07:15
LONDON (Alliance News) - Henderson Group PLC Thursday said assets under management increased by GBP4.0 billion to GBP79.2 billion over the course of the first-quarter, driven by GBP2.99 billion in net inflows.
In a statement for the three months ended March 31, the asset manager said net inflows were driven by retail client demand in Continental Europe, the UK, North America, Latin America and Asia. Retail net inflows came to about GBP2.88 billion, while institutional flows were GBP113.0 million. While marginally positive, institutional flows were offset by outflows from maturing mandates.
Chief Executive Andrew Formica said Henderson made a good start to 2014.
"The strong support we saw from clients at the end of 2013 in our retail business continued through the first quarter and in our Institutional business, flows were stable," Formica said in a statement.
"Client demand for European equities was the most significant driver, but solid investment performance and active client engagement worldwide continued to generate interest in all of our core capabilities - European equities, global equities, global fixed income, multi-asset and alternatives," Formica added.
"Despite recent market volatility, we continue to experience strong client demand but remain ready to take action on costs if there is any significant or sustained change in market conditions," he said.
Henderson intends to release its 2014 interim results on August 7.
Henderson shares were up 2.3% in early trade Thursday at 252.60 pence.
By Samuel Agini; [email protected]; @samuelagini
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