Henderson recovery continues with fresh retail inflow

Henderson Group has reported a second consecutive quarter of net inflows from retail clients, as they invested £399m in the second quarter of the year.

The group has reported net retail inflows in the first six months of 2013 of £586m, which include the £188m of net inflows in the first quarter of the year that the group reported in May.

The inflows have brought to a close a sustained period of retail outflows that stretched back to 2011.

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Pre-tax profits at the firm have grown to £72m overall in the first six months of 2013, compared to £49.3m in the same period last year.

However, the overall retail net inflow seen in the first half of 2013 masks a net £5m withdrawal from the group’s UK-based funds, the results show. Investments into the group’s European Sicav-fund range were the main driver, netting £444m, while investment trusts shed £136m.

“The continued strong investment performance on behalf of our clients has in turn translated to an improvement in retail flows, with approximately £600m of net retail inflows in the first half,” said chief executive Andrew Formica.

In a sign of the strong performance being seen on the group’s funds, it has recently been named as a member of the Investment Adviser 100 Club’s Large Investment Group category.

Henderson’s assets under management rose 3.5 per cent in the first six months of the year and the group netted a £72m profit before tax, compared with £49.3m in the first half of 2012 and £102.7m for the whole of 2012.

On the institutional side the group suffered outflows of £2bn in the first six months of 2013, although the results said these slowed in the second quarter.