Henderson Group’s assets under management rose by £3.2 billion, or 4.9% to £68.9 billion in the in the opening three months of 2013.
The amount of money run in the asset manager’s retail book is up 10%, moving from £30.3 billion to £33.3 billion. This was driven by net inflows of £188 million, which is the first time the firm has witnessed net retail inflows since the start of 2011, and positive market movements of £2.8 billion.
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However, the balance of institutional funds leaving was GBP1.2 billion, much of which was due to the cancellation of an GBP840 million global equity mandate from a former client of Gartmore, the asset manager Henderson acquired in 2011.
Total net outflows for the group was GBP1.3 billion pounds over the quarter, adding to the GBP3.9 billion pounds that departed throughout 2012.
Andrew Formica, Henderson Group’s chief executive, said: "I am pleased with the performance of our retail funds especially our SICAV funds which recorded strong positive net flows as investor sentiment improved over the quarter in both Europe and Asia. In addition, positive cash flows improved the group’s financial strength."
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