Henderson Group suffered £4bn of outflows in 2016 as it produces its final full year results ahead of its merger with Janus Capital.
The results confirmed the merger is set to complete in May.
Despite the outflows, which compared to £8.5bn of net inflows in 2015, assets at the group rose 10 per cent to £101bn. Equities suffered the bulk of outflows, losing £3bn, while property funds were the next biggest loser for the firm suffering £859m of net outflows.
Underlying profit before tax over the year was down to £212.7m compared to £220m.
Chief executive Andrew Formica describes the performance as “resilient” in a year of political and market turbulence.
“It is testament to our strategic progress over the past three years that we report assets under management and management fees at record levels – progress that has enabled us to continue to move forward through the proposed merger with Janus Capital Group.
“We are well advanced on our integration planning and are on track to complete the merger by the end of May.”