27th Apr 2016 06:57
LONDON (Alliance News) - Henderson Group PLC, the Anglo-Australian money manager, on Wednesday said market volatility in the opening quarter of 2016 saw clients "temper" their investment decisions over the three-month period.
Assets under management rose to GBP92.73 billion from GBP91.99 billion during the three months ended March 31, Henderson said in a statement.
Negative market movements were counterbalanced by foreign exchange translation gains, Henderson said, driven by the strength of the Australian dollar, US dollar and euro against its pound sterling reporting currency. Overall, the market and foreign exchange benefit to assets under management amounted to GBP1.42 billion in the quarter.
Long-term investment performance remained strong, the company said, with 77% of funds outperforming over three years.
Net outflows from institutional clients of GBP769 million more than offset retail net inflows of GBP90 million.
"Our retail flows improved as the quarter progressed and, looking beyond previously announced mandate losses, our institutional pipeline remains healthy," Chief Executive Andrew Formica said in a statement.
"Henderson continued to benefit from diversification by geography and investment style, with flows strongest in US retail, and good investment performance as well as client demand in absolute return and income-focused strategies. We continue to track well against our priorities to broaden and grow our global business," Formica said.
By Samuel Agini; [email protected]; @samuelagini
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