Henderson Global Investors has seen its assets under management (AUM) plunge £3bn in the first four months of 2008, to £56.2bn.
However, the group says it expected to drop at least £1.8bn of that amount following the withdrawal last year of Pearl's staff pension scheme. The group says challenging market conditions during the period led to subdued demand from retail investors, with £600m outflows coming from its investment trusts, horizon funds and UK wholesale range. Henderson also experienced outflows of £1.1bn from its Pearl Group mandate, £600m from the run-off of Pearl's closed life books and £500m in previously notified withdrawals. Pearl also has a further £8bn of assets which it gave notice on in 2007, but...
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