European QE leads to record inflows for Henderson

European QE leads to record inflows for Henderson

Investor interest in European equities, driven by quantitative easing, led Henderson to a record quarterly inflow in the first three months of 2015.

The asset manager received net inflows of £3.6bn in the first quarter of 2015, £2.9bn of which was retail money, which helped push its assets under management up by 10 per cent to £89.4bn.

The majority of the inflows went into Henderson’s European equity products, which also delivered strong investment performance as European markets rallied off the back of the European Central Banks QE programme.

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Henderson’s offshore Sicav range benefitted the most, recording £1.9bn in net new money, mainly into the Henderson Gartmore Continental European Equities, Henderson Horizon Euro Corporate Bond and Henderson Gartmore UK Absolute Return funds.

Inflows into the UK-domiciled range were more subdued, at £0.4bn, with the Henderson UK Property fund the top-seller.

However, the asset manager also announced today it was selling its 40 per cent stake in its property joint venture, TH Real Estate, to TIAA-CREF for £80m.

Henderson sought to reassure investors in its UK Property fund, which is managed by TH Real Estate managers Ainslie McLennan and Marcus Langlands Pearse, that it will not be affected by the sale.

Although it will no longer own a stake in TH Real Estate, Henderson continuing to administer, distribute and market the fund.