Inflows up at Henderson as assets rocket

first_img whatsapp Inflows up at Henderson as assets rocket Show Comments ▼ Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap KCS-content Sharecenter_img ANGLO-AUSTRALIAN fund manager Henderson said its profits leapt 37 per cent last year, despite a £7.6m charge.Underlying profit before tax increased to £100.7m, up from £73.7m a year earlier, at the firm led by chief executive Andrew Formica.Henderson was forced to pay a £7.6m charge into the Financial Services Compensation Scheme as a result of the collapse of Keydata, taking the gloss off its results. The charge incurred by the asset manager is the biggest one to be revealed by a fund manager so far.Net inflows at the group jumped from £700m to £2bn last year, with assets under management rising from £58.1bn to £61.6bn, helping to boost the rise in profit. The firm’s board said it would increase its final year dividend as a result of the strong figures to 4.65p, up from 4.25p.Meanwhile, Henderson’s acquisition target Gartmore leaked more than £790m in assets over the first seven weeks of this year. Investors in the British asset manager pulled the cash despite Henderson having signed up Gartmore managers running 84 per cent of funds. Assets under management at the firm plummeted by £7bn over the year after the departure of two of its stars – Roger Guy and Guillaume Rambourg.Oriel Securities analyst Keith Baird remained upbeat about the merger, which is set to be tied up by April.He said: “I was in the majority who thought it [Gartmore] was possibly undergoing a death spiral, which is what you get in these situations where there’s been an upheaval and people leave. The whole Roger Guy fiasco was a massive own goal, but it did only affect one deck of the ship and the rest of it seems to be functioning well enough.” Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndo Tags: NULL whatsapp Wednesday 23 February 2011 8:59 pmlast_img