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Henderson profits dip 8.5%

Fund group saw its profits fall in the first half as assets fell by £2.1bn.

By John Kenchington | Published Aug 14, 2012 | comments

Henderson has reported an 8.6 per cent profit dip in the first six months of 2012, amid the dire market environment.

The group has reported first half pre-tax profits of £79m, lower than the £86.4m of profits generated in the same period last year.

Assets under management fell to £63.6bn at the end of the first half, compared to £74.4bn a year earlier.

Chief executive Andrew Formica said the group’s long-term strategy remained unchanged.

We all recognise the challenges the world faces with economic growth impacted by corporates deleveraging instead of investing and the risk of sovereign default weighing heavily on markets,” he said.

“However we have not and will not sit back and just wait for an improvement. As with all periods of uncertainty, in time they will pass and opportunities will present themselves. We have used this time to continue to invest and strengthen the business.”

The group continues to consolidate its fund range following the acquisitions of New Star Asset Management and Gartmore in recent years.

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