Aussie acquisitions see Henderson Group’s AUM rise
Assets manager, Henderson Group, has seen post-tax profits falls by 38 per cent, on the back of tax bills for acquisition related and non-recurring items.
The Australian Securities Exchange (ASX) listed firm saw assets under management (AUM) jump 13 per cent for the year to 31 December 2015, with Australian acquisitions accounting for almost half the increase.
Henderson chief executive, Andrew Formica, reported a strong investment performance, with 81 per cent of funds outperforming relevant metrics over three years to 31 December 2015, with net new money growth from continuing operations of 11 per cent,, driven by retail flows well ahead of industry peers.
"2015 was another strong year for Henderson," he said.
"Our active investment management capabilities delivered excellent returns for our clients in difficult market conditions, and we achieved record net inflows and underlying profits. Our organic growth initiatives are making good progress, with encouraging performance from new investment teams and AUM growth in all regions, notably the US, Continental Europe and Latin America. We accelerated our growth plans in Australia with three acquisitions in the course of the year.
"The first few weeks of 2016 have been challenging for investors and our clients, with a wide range of economic and geo-political risks weighing on markets.
"We will review our short-term plans if difficult market conditions persist, but remain focused on our long term goals to grow and globalise our business."
On 1 November 2015, the Group completed its acquisitions of Perennial Fixed Interest and Perennial Growth Management, resulting in a £5.2bn increase in AUM, while a separate transaction which completed on 29 May 2015,saw the group take full ownership of 90 West Asset Management.
"Australia is an important strategic market for Henderson and our recent acquisitions bring recognised domestic investment management capabilities which complement our global offerings, and align with our objective of growth and globalisation," the company's full year results report said.
AUTHOR
Nicholas O'Donoghue
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