Henderson reports £1.1bn net outflow in Q3

Henderson has reported a net outflow of £1.1bn in the third quarter of 2012.

The group saw £296m of outflows from its retail range as well as £585m from its institutional offering.

Henderson says the retail outflows were predominantly from its UK Oeic range, which saw net outflows of £408m, some of which was offset by inflows into its Sicav range.

The group says: “We continue to experience outflows as clients and advisers reposition their portfolios in advance of the implementation of the Retail Distribution Review as well as having some core funds, notably in our multi manager range, underperforming.”

However, Henderson has seen assets under management rise by £1.2bn to £64.8bn in third quarter of 2012.

Henderson chief executive Andrew Formica says: “I am encouraged by the strong investment performance across our clients’ portfolios. Although investors remained cautious in their appetite for risk products, confidence improved during the period particularly about Europe and therefore outflows from our retail funds slowed compared to the second quarter. Our strict cost discipline allows us to continue to invest in the business and enhance the service we provide to our clients. This means that we are well positioned to benefit from any improvements in investor sentiment.”