Henderson Group published its Interim Results for the half year ended 30 June 2014 last week. The British asset manager continued delivering a strong performance, with 10% growth in AUM–up 10% to £74.7bn (US$125bn) and net inflows of £5.0bn (US$8.4bn), of which £4.7bn came from retail clients, broadening Henderson’s international footprint. In Europe, Henderson benefited from its global relationships whereas for Latin America the highest growth came from the offshore private banking channel.
To contribute into the SICAV retail development Henderson has announced it will invest in a resource in Miami to give support to the offshore channel in Latin America and another one in Geneva to support global distribution relationships. Moreover, Henderson is working on strategic relationships with IFA networks in Italy.
On the institutional side, Henderson obtained inflows of £0.3bn, reversing the outflows trend (£2.0bn) of the previous semester. Mandates in Global Equity helped outpace redemptions in the institutional space. There has also been a turnaround in the absolute return offshore fund flows. Henderson envisages a significant contribution in the institutional side in its five year plan, given the investment and turnaround in certain asset classes –Global Equity, Multi-Asset, Global Credit- that is expected to compensate for the annual £700mn in outflows that it has experienced in recent years.
Andrew Formica, Chief Executive of Henderson, said: ”We have made great strides on a number of fronts in the first half of 2014 towards delivering on our strategy. We are starting to see early results from some of our previous investments, including mandate wins for our Global Equities strategy and excellent first year performance from our US high yield team. We continue to add resources in investment management and distribution and are enhancing our global platforms.
In it’s interim business update, Henderson also highlighted the strong investment performance of its products, where 86% of its funds outperformed relevant metrics over three years. Over the six month period Henderson hadpositive flows and investment performance in all five core capabilities – European Equities, Global Equities, Global Fixed Income, Multi-Asset and Alternatives
On June 30, Henderson announced the acquisition of Geneva Capital Management, which will increase US AUM to c.15% of the Group.
You may access the presentation of the interim results through this link.