Henderson reports £4bn outflows for 2016 ahead of 'new generation' merger with Janus

Confirms redundancies as a result of merger

Henderson Group has reported outflows of £4bn throughout 2016, a jump from the £8.5bn inflows seen the previous year, as CEO Andrew Formica reveals further details of its "truly transformative" merger with Janus Capital Group.

In its full year results for the year ended 31 December 2016, the company announced net outflows of £4bn, largely driven by its retail client base as a result of a global pull-back from exposure to European assets. In particular, it highlighted an acceleration of outflows from the Henderson UK Property fund in the wake of the EU referendum, leading to the suspension of trading on 5 July 2016. It re-opened in October with "modest redemptions". Despite this, the group said it has seen continuing demand for its UK absolute return and fixed income strategies and institutional flows "impro...