Henderson profits fall 8% as performance fees drop

In its full-year results for 2012, the group said it had faced a tough time for sales in Europe and the US in particular, and this, combined with lower performance and transaction fees, lead to the drop in revenues. Underlying pre-tax profit was £146.5m for the year, down from £159.2m for 2011. AUM increased slightly from £64.3bn to £65.7bn for the year, while the board recommended a 2% dividend rise, giving a final dividend payout of 5.05p per share. Management fee income decreased by 1% to £355.2m, mainly due to net fund outflows in 2011 and 2012 offsetting the additional quarter...