Henderson Group has reported net inflows of £3bn in the first quarter of 2014 as the group’s European equity range continued to generate new investments from retail clients.
Henderson’s shares are trading 2.5 per cent higher at 253.2p this morning after it released interim results described as “a good start to 2014” by chief executive Andrew Formica.
The retail inflows, combined with “stable” flows in institutional, helped to boost the group’s assets under management to £79.2bn by the end of March, compared to £75.2bn at the end of 2013, the results said.
The group has enjoyed a sustained period of net inflows which have allayed market concerns that erupted in 2012 after poor demand for European equities - the group’s top selling area - had triggered major outflows for multiple quarters.
“Client demand for European equities was the most significant driver, but solid investment performance and active client engagement worldwide continued to generate interest in all of our core capabilities - European equities, global equities, global fixed income, multi-asset and alternatives,” Mr Formica said.
The group said retail demand was reported in Continental Europe, UK, North America, Latin America and Asia.
