A tale of two halves: Fund groups see mixed fortunes in H1

The first six months of 2015 have been a tale of two halves for asset managers, as some noted record inflows while others saw investors heading for the exit in droves.

During the six months to the end of June, the general election, lagging economic figures and Greece gave investors cause for concern. Several fund groups were hit by particularly volatile flows, including Liontrust, which reported a net outflow for Q2 that has since been reversed. Outflows were also suffered by groups overly exposed to out-of-favour asset classes. These include Aberdeen, with its heavy weighting to Asia and the emerging markets, and M&G, which was hit by tumbling bond yields. Yet for other groups the last six months have been strong: Henderson Global Investors reco...