Henderson retains 91% of Gartmore AUM as outflows slow

Henderson has managed to retain 91% of the assets it took on with the acquisition of Gartmore, reporting an outflow of £438m from Gartmore funds in the first half of the year.

Henderson's assets under management reached £74.4bn at the end of June, £12.8bn above December's figure. The group said it was encouraging to note Gartmore's AUM had moved from £16.5bn at 31 December 2010 to £15.7bn, meaning the majority of assets had been retained. Henderson is expecting to post almost doubled profits for H1 compared to 2010, as well as a £575m net inflow into its retail arm. The group said it expects to see a £38.5m increase in its underlying profits in the first six months of 2011, forecasting a figure of £83m-£87m compared to £48.5m last year. Henderson UK r...