Equities  

Henderson inflows of £5.6bn push assets to £82.1bn

Henderson inflows of £5.6bn push assets to £82.1bn

Henderson Group has reported net inflows of £5.6bn for the six months to June 30 pushing assets to £82.1bn.

This is an increase from the end of December when assets stood at £81.2bn, but is a marked decrease from the £89.4bn recorded at the end of March. The group noted the net inflows, and positive market and foreign exchange (FX) movements helped boost the asset growth, but added there was a “net £6.2bn reduction from acquisitions and disposals”.

Henderson stated: “Market and FX movements contributed a positive £1.5bn for the period. Markets suffered reversals in June, driven by political uncertainty in Europe and market declines in China. The effect of these reversals was exaggerated by the significant increase in the value of sterling after the unexpected UK election result.”

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It added that the acquisitions and disposals in the period saw the company restructure its involvement in property as an asset class and “accelerate our growth plans in Australia”. In addition it highlighted that Richard Pease departed the company with his £1bn European Special Situations fund in June 2015.

The interim results showed net inflows fell mainly into the retail business at £4.7bn with the majority into the Sicavs range and just £703m into the UK oeics and unit trusts. Meanwhile European equities proved the most popular asset class across the business with net inflows of £2.7bn while Alternatives added just short of £2bn and Global Fixed Income accounted for £1.9bn. In contrast multi-asset and global equities both saw outflows over the six month period.

Andrew Formica, chief executive of Henderson, said: “We remain relatively positive on the market outlook, but are conscious that lingering investor caution during the northern hemisphere summer could affect flows across the industry in the third quarter. Nevertheless, Henderson remains well positioned. With strong sales momentum, increased brand recognition, excellent investment performance and disciplined investment in new initiatives, we are focused on outperforming the market and delivering our ambitious plans for future growth.”