Henderson Group's full year results show its assets under management fell by 16% from £59.2bn at 31 December 2007 to £49.5bn at 31 December 2008.
The group experienced net outflows of £800m across its higher margin range of investment trusts, horizon funds and wholesale funds in the UK and US. The losses also relate to the asset manager's hedge funds, and property portfolios in Europe and the US, as well as private equity and structured products. Henderson Group attributed the drop in AUM to net fund inflows of £2.9bn, predominantly into its institutional and property divisions, which were offset by net fund outflows of £6.7bn from Pearl. This was worsened by unfavourable market and foreign exchange movements of £5.9bn. The resul...
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