Henderson Group Sees Profit Surge on Performance Fees
Henderson Group Plc. (HGG), the dual London and Sydney-traded fund manager, posted record profit for the first half of the year as it increased performance fees.
Pretax profit climbed to 72 million pounds ($111.6 million) from 49.3 million pounds in the year-earlier period, the company said in a statement today. Net retail inflows of about 600 million pounds helped increase assets under management to 67.9 billion pounds from 63.6 billion pounds.
Charges to clients related to the value of the company’s investments were 57.5 million pounds, outstripping the 33.9 million pounds earned during 2012, the company said.
“Our strong financial position is enabling us to continue to invest in both our investment and distribution capabilities to further our growth,” Chief Executive Officer Andrew Formica said in the statement.
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