Henderson Group - Acquisitions complete

Henderson completes acquisitions of Perennial Fixed Interest, Perennial Growth Management - now focused on organic growth in Australia

2 November 2015

Further to the market announcement on 2 June 2015, Henderson Group plc ("Henderson") has now completed the acquisition of Perennial Fixed Interest Partners Pty Ltd ("PFI") and Perennial Growth Management Pty Ltd ("PGM") from IOOF Holdings Ltd ("IOOF") and the employee-shareholders of each company. The two companies have combined Assets Under Management of £5.0bn / A$10.8bn (30 September 2015).

Highlights

· These acquisitions are in line with Henderson Group's strategy to grow and globalise its business. They bring forward the business plan for Henderson Australia, adding two highly regarded investment teams to the business and provide Henderson Australia with significantly extended distribution reach.

· All investment team members of both PFI and PGM are now employed by Henderson.

· The investment processes of the PFI and PGM funds and mandates remain unchanged. Following completion, the funds have been re-branded from Perennial to Henderson and all mandates have been novated to Henderson.

· Separately, the 90 West Global Natural Resources Fund has been re-branded to Henderson and the 90 West investment team are now known as the Henderson Global Natural Resources team, following completion of the acquisition of 90 West Asset Management, as announced in June.

· To support the new and existing investment teams based in Australia, Henderson Australia has also added new hires to its distribution, operations, finance, and risk management functions.

Rob Adams, Executive Chairman, Pan Asia for Henderson, said: "We are pleased to have completed these important transactions. Henderson's business in Australia now has four locally-based investment teams, whose highly-regarded experience and expertise in the domestic markets will perfectly complement our global offerings. We are also delighted to have been able to strengthen the support we provide our investment teams and the service we offer to clients through a number of additional high-quality hires.

"Our focus at Henderson is now on growing our business in Australia organically, capitalising on our expanded team."

Glenn Feben, Head of Australian Fixed Income, said: "We've been impressed with the process of integrating our business into Henderson thus far. Our team is pleased to be part of a deeply resourced global fixed income team, with well-supported systems, which will result in further benefits for our clients."

Lee Mickelburough, Head of Australian Equities, commented: "We have enjoyed our interactions with Henderson both locally and globally since the deal was announced, reaffirming our decision to become part of the Group. To be able to focus solely on managing our clients' assets, leveraging off specialist business support teams, is a significant step forward for us as part of the global Henderson footprint."

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About Henderson

Henderson is an independent global asset manager, specialising in active investment. Named after its first client and founded in 1934, Henderson is a client-focused global business with over 900 employees worldwide and assets under management of £81.5bn (30 September 2015). Its core areas of investment expertise are European equities, global equities, global fixed income, multi-asset and alternatives.

Henderson is dual-listed on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE) and has a market capitalisation of approximately £3.2bn (27 October 2015). 

Further information can be found at www.henderson.com/ir.