Henderson has warned of “challenging” market conditions and an investor trend towards lower risk products as it reported positive inflows in the third quarter of 2014,
The asset management firm’s retail assets under management (AUM) grew by 2.6 per cent to £45.8bn in the three months to the end of September.
The AUM growth came almost entirely from net inflows of £1.2bn as market movement was flat during the quarter.
The firm’s alternatives division, which includes its property and absolute return funds, saw the bulk of the new money as the flagship European equities division lost money in the quarter.
Andrew Formica, chief executive of Henderson, warned that investors were seeking “safety in cash and lower risk products” in the current markets, which he thought would “persist while the outlook for world economies remains uncertain”.
The group’s overall AUM grew from £74.7bn to £76.6bn as its institutional business also grew during the quarter.
Analysts at Numis Securities said the results were “broadly in line” with expectations but said the “more cautious tone” struck by the group suggested “net flow momentum has weakened so far in Q4”.
