Henderson records £8bn retail flows in 2015

Henderson records £8bn retail flows in 2015

Henderson Group recorded net retail inflows of £8bn in 2015, with £1.8bn recorded in the final quarter of the year, bringing retail assets under management to £56.9bn.

This helped to boost total assets under management to £92bn from £81.2bn at the start of 2015.

The full year results showed that of the £8.5bn of total net inflows across the business the majority came from the retail side, with just £500m from the institutional business.

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It reported £4.3bn flowed into its Sicav range, with popular products including the Henderson Gartmore Continental European and Henderson Gartmore UK Absolute Return funds.

Henderson noted increased client demand for European assets in the wake of European quantitative easing, but acknowledged that while UK retail flows “remained consistent across the year”, it was at a lower level than in 2014.

Net flows into the UK Oeic and unit trust range accounted for £1.3bn of the retail total in 2015, with investment trusts adding a further £152m.

But Henderson highlighted that as clients sought alternative sources of income its top selling products in the UK included the Henderson UK Absolute Return, Henderson Strategic Bond and the Henderson UK Property Oeic.

In his review chief executive Andrew Formica noted that investments made “to broaden the range of investment styles we offer our clients are starting to bear fruit, with many of our new investment teams starting to develop impressive track records”.

But he added that as part of the group’s strategic plan to build a “scalable operating platform” to improve profitability, the management structure had been reviewed to ensure it was keeping pace with the changes.

As a result Mr Formica stated that in December 2015, “I took the decision after consultation with the board that the role of chief investment officer was redundant, which meant that Rob Gambi left the business as part of a broader streamlining of the executive committee. I would like to thank Rob for his contribution to Henderson and wish him well for the future.”

Meanwhile, he added: “The first few weeks of 2016 have been challenging for investors and our clients, with a wide range of economic and geo-political risks weighing on markets. We will review our short term plans if difficult market conditions persist, but remain focused on our long term goals to grow and globalise our business.”