Henderson sees £1bn retail outflows as investors withdraw from Europe

AUM grew by 6%

Henderson saw net retail outflows of £1bn in the third quarter of 2016, despite assets under management growing 6% in the run up to the announcement of its merger with Janus Capital Group.

In the three months to 30 September, Henderson saw AUM move from £95bn to £100.9bn, which it said was a result of positive markets and FX gains caused by sterling weakness. The company said 70% of the net outflows in its retail division occurred in July in the immediate aftermath of the UK referendum, and client sentiment remains cautious. It added that demand for the Henderson UK Absolute and Strategic Bond funds was offset by a rotation away from European equities among investors. In its US mutual fund range, Henderson said a continued demand for income drove inflows to its Globa...