Henderson posts record profits as UK retail business sees turnaround

Henderson today reported a bumper set of results for 2013, including record profits, following a return to positive UK retail flows.

The group reported record underlying profit before tax of £190.1m for 2013, helped by overall net inflows of £2.5bn in 2013. Total AUM climbed from £65.7bn to £75.2bn in the last year, with net inflows bolstered by markets and favourable currency moves which added over £7bn. Crucially, its UK retail business saw a return to positive flows, with £1.2bn of inflows for the full year. Overall its retail business saw £4.4bn of net inflows across geographies. Underlying profit was well ahead of the previous year's £153m thanks to the improvement in flows, and allowed the group to hike...