Henderson Group Plc (HGG) said it increased assets under management by 2.9 billion pounds ($4.6 billion) in the third quarter as as the company reported its first net inflows into equities in 2 1/2 years.
Assets climbed to 70.8 billion pounds from the second quarter, boosted by net inflows of 1.2 billion pounds, the dual London and Sydney-traded fund said in a statement today. Net inflows into equities were 900 million pounds, the first positive period since the first quarter of 2011.
“The business is performing strongly,” Henderson Chief Executive Officer Andrew Formica said in the statement. “All our geographies have seen substantial increases in net flows during the period. This momentum and strong cash generation allow us to continue to invest in the business whilst strengthening our balance sheet further.”
The retail business, which had inflows of 1.3 billion pounds in the period, “continued to maintain the momentum seen in the third quarter.” The institutional business reported “marginal outflows,” according to the statement.
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