Henderson has reported net outflows of £2.1bn in the first half of 2012 as second quarter retail outflows hit AUM amid difficult markets.
In its interim financial results for the six months to 30 June 2012, the group said total AUM fell, to £63.6bn, down from £64.3bn at the start of 2012 as net outflows of £2.1bn offset a £1.4bn positive contribution from market and currency movements. Net outflows from the group's institutional and Phoenix businesses neared £1.2bn in the first half, with net retail outflows accelerating from £110m in Q1 to £792m in the second quarter as European investors' early year optimism faded. Underlying profit before tax fell by 8.6% over the six month period to £79m from £86.4m a year previous ...
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