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Henderson assets fall by £600m in Q3

Henderson assets fall by £600m in Q3

Henderson Group has recorded a £600m fall in its assets under management to £81.5bn in the three months to September 30 2015, as negative market movements of £1.9bn offset net inflows.

The third quarter trading statement showed the firm’s retail business recorded net inflows of £1.5bn in the three months as Henderson noted clients “continued to increase their exposure to European assets and investment for income and risk-adjusted returns”.

As a result it pointed to strong inflows into its Sicav range, in particular the Henderson Gartmore UK Absolute Return and the Henderson Gartmore Continental European funds. Meanwhile the dominant players in the UK retail range included the Henderson UK Property Oeic, the Henderson UK Absolute Return fund and the Henderson Strategic Bond.

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However, these retail inflows were offset by negative market movements of £1.6bn resulting in total retail assets under management of £51.4bn, slightly lower than the £51.5bn in June.

The firm’s institutional business also saw a small net outflow of £200m in the period, which combined with negative market movements of £250m, saw the institutional business assets under management drop from £30.6bn to £30.1bn.

Andrew Formica, chief executive of Henderson, said: “Looking forward, we expect market conditions to remain challenging and regulatory oversight of asset managers to continue to intensify. That said, we continue to make good progress with our strategy to grow and diversify our business.”