31st Oct 2013 10:25
LONDON (Alliance News) - Henderson Group PLC Thursday said it attracted strong net inflows over the course of the third quarter, driven by investor appetite for higher-margin products.
Dual-listed in London and Australia, Henderson attracted GBP1.24 billion in net flows over the third quarter, predominantly because it added GBP889 million to its equity assets under management.
Net inflows, coupled with a strong investment performance, increased assets under managed by GBP2.9 billion to GBP70.82 billion as of September 30.
Henderson shares were Thursday quoted at 215.44 pence, up 0.5%, despite the assets under management figure falling 0.7% below the GBP71.3 billion that Numis analyst David McCann had anticipated.
"The net inflows into our retail businesses are testament to both improved investor confidence and our consistently strong investment performance across our core product ranges. All our geographies have seen substantial increases in net flows during the period. This momentum and strong cash generation allow us to continue to invest in the business whilst strengthening our balance sheet further," Chief Executive Andrew Formica said in a statement.
Retail clients were the source of GBP1.34 billion in net inflows over the quarter, while the institutional business saw a GBP107 million net outflow.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
HGG.L