30th Oct 2014 08:13
LONDON (Alliance News) - Henderson Group PLC on Thursday said its assets under management increased in the third quarter, with net inflows boosted by its UK and European retail businesses and global institutional flows.
The FTSE 250 investment manager said assets under management increased 2.5% to GBP76.6 billion at September 30. That number was further boosted to GBP79.9 billion on October 1 following the completion of its acquisition of US equity manager Geneva Capital Management for GBP120 million.
The group said it saw net inflows of GBP1.4 billion in the period, driven by the performance of its UK retail, European retail and global institutional performance.
Henderson said its investment performance was robust in the period, with 71% of its funds outperforming over one year and 83% over three years.
"This has been another quarter of strong flows. Despite tougher market conditions and reduced investor appetite, particularly in European Equities, Henderson continued to take market share and delivered net inflows of GBP1.4 billion," said Andrew Formica, chief executive of Henderson
"Current markets are proving challenging, as investors seek safety in cash and lower risk products. We expect these conditions to persist while the outlook for world economies remains uncertain. Whilst we remain vigilant on costs, recent investments in our business have positioned us well, with a broad product range and a more geographically diverse business," he added.
Henderson shares were up 0.6% to 198.4 pence in early trade on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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