Reuters: Financial Services and Real Estate: UPDATE 1-Henderson Q1 fund outflow led by institutions

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Henderson Q1 fund outflow led by institutions May 2nd 2012, 06:37 Wed May 2, 2012 2:37am EDT * Total AUM up 2.4 bln stg to 66.7 bln stg * Net outflows in Q1 of 857 mln stg LONDON, May 2 (Reuters) - Investment manager Henderson suffered an ouflow of funds in the first quarter of 2012 amounting to 857 million pounds ($1.39 billion) attributed mainly to its institutional business where demand among clients for equities is declining. Institutional net outflows were 610 million pounds over the three months to the end of March, while the retail arm saw a net loss of 110 million pounds in funds, predominantly from its UK funds, the firm said in a statement on Wednesday. The remaining 137 million pounds of outflows were from insurance clients. Henderson said 67 percent of its equity funds and 74 percent of its bond funds are outperforming their benchmarks over one year and investment performance helped lift total assets under management by 2.4 billion pounds to 66.7 billion. Chief Executive Andrew Formica is due to address shareholders at the company's annual general meeting on Thursday. "Against what is a strong set of financial results, I am however disappointed with our net fund flows," he said in a statement that will be read to shareholders as an opening address. Formica will also note that the firm has made a number of changes and hires, both in sales and fund management that are aimed at turning net fund flows positive. Henderson shares closed on Tuesday at 122.4 pence. Link this Share this Digg this Email Reprints

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