Henderson hits record levels after reversal
FUND manager Henderson yesterday said a turnaround in retail investor sentiment at the end of the last year helped deliver a record year for profits at the group.
The business, which celebrates its 80th birthday this year, said retail investors put an extra £2.5bn into its funds into the fourth quarter while institutional investors added an additional £197m
This helped take total assets under management to £75.2bn at the end of 2013 while pre-tax profits rose to a record £190.1m.
“We saw good momentum into the end of last year and that momentum we’re continuing to see into this year,” chief executive Andrew Formica told City A.M.
“We had great performance in Europe and the emerging market disruption at some of our competitors and fund manager changes in the industry also helped us win business.”
Formica also said he hoped to double assets under management by 2015 to about £150bn. He said most of this rise would come from organic growth but did not rule out bolt-on acquisitions for the group, with the United States identified as a particularly interesting region.