Assets under management at Henderson Global Investors grew more than 4% in the third quarter of the year thanks to market gains and inflows into retail products.
The firm’s assets under management at the end of September were £70.8 billion (€83 billion) after market and currency gains of £1.6 billion and an overall net inflow of £1.2 billion in the three months.
The positive net inflow was driven by retail products and came despite a net outflow of £107 million from Henderson’s institutional business.
Equity funds accounted for the bulk of the rise, with a net inflow of nearly £900 million. Henderson’s private equity business had a net outflow of £25 million and the institutional side of its absolute return business had a net outflow of £155 million, while other asset classes all gained investment.
“These net inflows were into [Henderson’s] higher margin retail products and were spread across all products and regions,” says Jonathan Goslin, analyst at Edison Investment Research.
“Encouragingly, these trends appear to have continued into Q4. Investment performance remains strong with 78% of funds by AUM [assets under management] ahead of their benchmark over one year and 84% ahead over three years. The strong investment performance coupled with Henderson’s well known brand should enable it to generate further net inflows over coming quarters.”
A little over half of Henderson’s assets under management are in equity funds, about a quarter are in fixed income products and the rest are spread across property and private equity.
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