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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Henderson Grp | LSE:HGI | London | Ordinary Share | GB00B249J983 | ORD 12.5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 52.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMHGG
RNS Number : 0614Q
Henderson Group plc
01 November 2012
Interim Management Statement
1 November 2012
Henderson Group plc ('Henderson Group' or 'the Group') is publishing its second Interim Management Statement for 2012 today. The comments below refer to the period from 1 July 2012 to 30 September 2012 ('the period'), unless otherwise stated.
Key points
-- AUM up GBP1.2bn to GBP64.8bn at 30 September 2012. -- Positive net flows into European retail and Property funds. -- Strong investment performance over one and three years.
Commenting on the Interim Management Statement, Andrew Formica, Henderson Group's chief executive said: "I am encouraged by the strong investment performance across our clients' portfolios. Although investors remained cautious in their appetite for risk products, confidence improved during the period particularly about Europe and therefore outflows from our retail funds slowed compared to the second quarter. Our strict cost discipline allows us to continue to invest in the business and enhance the service we provide to our clients. This means that we are well positioned to benefit from any improvements in investor sentiment."
Henderson Group plc
47 Esplanade
St Helier
Jersey JE1 0BD
Registered in Jersey
No. 101484
ABN 67 133 992 766
Investment performance
Henderson's investment performance across the majority of asset classes and product types has improved. Over one year, 70% and 92% (58% and 78%: 1H12) of Equity and Fixed Income funds respectively outperformed and 73% and 85% (66% and 98%: 1H12) over three years.
AUM by channel
Hot Features
Premium
GBP million Opening Net Market/ Net Market/ Closing Net Market/ Closing
AUM flows FX flows FX AUM flows FX AUM
------------- -------- ------- -------- -------- -------- -------- -------- -------- --------
1 Jan 1Q12 2Q12 30 Jun 3Q12 30 Sep
------------- -------- ----------------- ------------------ -------- ------------------ --------
Retail 28,202 (110) 2,273 (792) (1,579) 27,994 (296) 1,381 29,079
Instl ex
Phoenix 29,601 (610) 550 (154) (484) 28,903 (585) 603 28,921
------------- -------- ------- -------- -------- -------- -------- -------- -------- --------
Total Group
ex Phoenix 57,803 (720) 2,823 (946) (2,063) 56,897 (881) 1,984 58,000
------------- -------- ------- -------- -------- -------- -------- -------- -------- --------
Phoenix 6,481 (137) 400 (269) 244 6,719 (248) 354 6,825
------------- -------- ------- -------- -------- -------- -------- -------- -------- --------
TOTAL GROUP 64,284 (857) 3,223 (1,215) (1,819) 63,616 (1,129) 2,338 64,825
------------- -------- ------- -------- -------- -------- -------- -------- -------- --------
AUM by asset type
GBP million Opening Net Market/ Net Market/ Closing Net Market/ Closing
AUM flows FX flows FX AUM flows FX AUM
-------------- -------- ------- -------- -------- -------- -------- -------- -------- --------
1 Jan 1Q12 2Q12 30 Jun 3Q12 30 Sep
-------------- -------- ----------------- ------------------ -------- ------------------ --------
Equity 35,316 (558) 2,834 (1,181) (2,366) 34,045 (1,114) 1,754 34,685
Fixed Income 15,513 (310) 402 (147) 863 16,321 (53) 497 16,765
Property 12,408 22 21 117 (324) 12,244 50 113 12,407
Private
Equity 1,047 (11) (34) (4) 8 1,006 (12) (26) 968
-------------- -------- ------- -------- -------- -------- -------- -------- -------- --------
TOTAL GROUP 64,284 (857) 3,223 (1,215) (1,819) 63,616 (1,129) 2,338 64,825
-------------- -------- ------- -------- -------- -------- -------- -------- -------- --------
AUM and flows
Total AUM increased by GBP1.2bn during the period to GBP64.8bn due to favourable market and FX movements of GBP2.3bn offset by net outflows of GBP1.1bn.
Net retail outflows were GBP296m. This was predominantly driven by outflows from the UK OEIC range. We continue to experience outflows as clients and advisers reposition their portfolios in advance of the implementation of the Retail Distribution Review as well as having some core funds, notably in our multi manager range, underperforming. We are encouraged by the turnaround in our European SICAV range, which showed positive net flows in the period, driven by excellent investment performance, and in particular strong inflows into our award winning Henderson Horizon Euro Corporate Bond fund. We have also seen a more positive trend in our US Mutual fund range as we moved through the period.
Institutional net outflows, excluding Phoenix, were GBP585m during the period. Funding activity was particularly low during the period and hence there was little to offset against a range of previously notified outflows. In addition, the modest current year and one year returns on our absolute return fund range, combined with industry aversion to Europe and equity long short strategies, has led to an increase in both notified and actual redemptions. Performance improved over the period and, if maintained through the remainder of the year, then we should see an improvement in flows as we move into 2013.
Property had net inflows of GBP50m during the period as disposals were more than offset by GBP195m investment of client commitments over the period.
Balance sheet
The Group's balance sheet at 30 September 2012 shows total net assets of GBP730m (30 June 2012: GBP736.7m) including unrestricted cash and cash equivalents of GBP119.4m (30 June 2012: GBP87.8m). The net debt position has halved to GBP30.6m at 30 September 2012 (30 June 2012: GBP62.2m).
Board and Committee changes
As previously announced, Sarah Arkle has been appointed as a Non-Executive Director to the Henderson Group Board, effective from 5 September 2012. In addition, Sarah joined the Board Risk, Nomination and Remuneration Committees in October 2012.
2012 full-year results
The Group intends to release its 2012 full year results on 27 February 2013.
Forward-looking statements
This announcement contains forward-looking statements with respect to the financial condition, results and business of Henderson Group. By their nature, forward-looking statements involve risk and uncertainty because they relate to events, and depend on circumstances, that will occur in the future. Henderson Group's actual future results may differ materially from the results expressed or implied in these forward-looking statements. Nothing in this announcement should be construed as a profit forecast.
Appendix 1: Number of shares for earnings per share (EPS) calculations(1)
Weighted average FY12E
-------------------------------------------------------- --------
Issued share capital 1,108.2
Less: own shares held (74.2)
--------
Weighted average number of ordinary shares for the
purpose of basic EPS 1,034.0
--------
Add: dilutive impact of share options and awards(2) 46.2
--------
Weighted average number of ordinary shares for the
purpose of diluted EPS 1,080.2
--------
Notes:
(1) This is a full-year weighted average number of shares
based on current issued share capital and employee share
plans adjusted for expected movements until the end of 2012.
(2) Based on the achievement of performance conditions at
30 September 2012, that all options will be exercised at
the earliest opportunity and the dilutive impact calculated
versus the Group share price at 28 September 2012.
------------------------------------------------------------------
Appendix 2: Detailed fund flows and AUM
Opening Net Market Net Market Closing Net Market Closing
AUM flows /FX flows /FX AUM flows /FX AUM
--------------- -------- ------ ------- --------- -------- -------- -------- ------- --------
GBP million 1 Jan 1Q12 2Q12 30 Jun 3Q12 30 Sep
-------------------------------- -------- --------------- ------------------- -------- ----------------- --------
INVESTMENT MANAGEMENT
Retail
UK OEICs/Unit
Trusts 14,726 (367) 903 (367) (585) 14,310 (408) 742 14,644
SICAVs 6,167 246 707 (252) (644) 6,224 108 331 6,663
US Mutuals 2,881 (25) 318 (164) (206) 2,804 (16) 85 2,873
Investment Trusts 3,583 45 344 (9) (139) 3,824 11 202 4,037
-------- ------ ------- --------- -------- -------- -------- ------- --------
Total Retail 27,357 (101) 2,272 (792) (1,574) 27,162 (305) 1,360 28,217
-------- ------ ------- --------- -------- -------- -------- ------- --------
Institutional
UK OEICs/Unit
Trusts 4,320 (251) 87 (87) 89 4,158 (87) 180 4,251
SICAVs 280 (11) 68 405 (29) 713 1 25 739
US Mutuals - 16 2 - (2) 16 - - 16
Offshore Abs Return
Funds 2,979 (174) 29 (81) (140) 2,613 (213) (11) 2,389
Investment Trusts 27 (5) 4 - - 26 - 1 27
Managed CDOs 1,036 (49) 5 (34) (13) 945 (42) (4) 899
Segregated mandates 7,982 (53) 362 (463) (79) 7,749 (289) 336 7,796
Liquidity Funds 459 (103) 2 (7) - 351 17 2 370
Total Institutional 17,083 (630) 559 (267) (174) 16,571 (613) 529 16,487
-------- ------ ------- --------- -------- -------- -------- ------- --------
Total Investment Management 44,440 (731) 2,831 (1,059) (1,748) 43,733 (918) 1,889 44,704
-------- ------ ------- --------- -------- -------- -------- ------- --------
Consisting
of:
Abs Return Retail 1,315 (18) 7 (123) (54) 1,127 (86) 18 1,059
Abs Return Institutional 3,255 (202) (1) (75) (98) 2,879 (243) (6) 2,630
-------- ------ ------- --------- -------- -------- -------- ------- --------
Total Abs. Return 4,570 (220) 6 (198) (152) 4,006 (329) 12 3,689
-------------------------------- -------- ------ ------- --------- -------- -------- -------- ------- --------
PROPERTY
Retail
UK OEICs/Unit
Trusts 782 (9) 1 - (7) 767 9 41 817
-------- ------ ------- --------- -------- -------- -------- ------- --------
Total Retail 782 (9) 1 - (7) 767 9 41 817
-------- ------ ------- --------- -------- -------- -------- ------- --------
Institutional
Property Funds 9,513 31 6 129 (348) 9,331 29 64 9,424
Segregated mandates 2,113 - 14 (12) 31 2,146 12 8 2,166
-------- ------ ------- --------- -------- -------- -------- ------- --------
Total Institutional 11,626 31 20 117 (317) 11,477 41 72 11,590
-------- ------ ------- --------- -------- -------- -------- ------- --------
Total Property 12,408 22 21 117 (324) 12,244 50 113 12,407
------ ------- --------- -------- -------- -------- -------
PRIVATE EQUITY
--------------------------------
Retail
Investment Trusts 63 - - - 2 65 - (20) 45
-------- ------ ------- --------- -------- -------- -------- ------- --------
Total Retail 63 - - - 2 65 - (20) 45
-------- ------ ------- --------- -------- -------- -------- ------- --------
Institutional
Private Equity
funds 892 (11) (29) (4) 7 855 (13) 2 844
Total Institutional 892 (11) (29) (4) 7 855 (13) 2 844
-------- ------ ------- --------- -------- -------- -------- ------- --------
Total Private Equity 955 (11) (29) (4) 9 920 (13) (18) 889
-------------------------------- -------- ------ ------- --------- -------- -------- -------- ------- --------
PHOENIX
Institutional
UK OEICs/Unit
Trusts 2,832 (39) 161 (44) (81) 2,829 (14) 135 2,950
Segregated Mandates 3,557 (98) 244 (225) 326 3,804 (235) 227 3,796
Private Equity
Funds 92 - (5) - (1) 86 1 (8) 79
Total Phoenix 6,481 (137) 400 (269) 244 6,719 (248) 354 6,825
-------------------------------- -------- ------ ------- --------- -------- -------- -------- ------- --------
TOTAL GROUP 64,284 (857) 3,223 (1,215) (1,819) 63,616 (1,129) 2,338 64,825
================================ ======== ====== ======= ========= ======== ======== ======== ======= ========
Notes to editors
About Henderson Group plc
Henderson Group plc ('Henderson Group' or 'Group') is the holding company of the investment management group Henderson Global Investors ('Henderson'). Henderson Group's principal place of business is in London and since December 2003 it has been dual-listed on the London Stock Exchange and Australian Securities Exchange ('ASX'). Henderson Group is a constituent of the FTSE 250 and S&P/ASX 200 indices. Since 31 October 2008, the Group has been incorporated in Jersey and tax-resident in the Republic of Ireland.
Established in 1934, Henderson is a leading independent global asset management firm. The company provides its institutional, retail and high net-worth clients with access to skilled investment professionals representing a broad range of asset classes, including equities, fixed income, property and private equity. Henderson is one of Europe's largest investment managers, with GBP65bn assets under management and employed 1,074 people worldwide (as at 30 September 2012).
About CHESS Depositary Interests
In this announcement, the term "shareholders" refers to all holders of Henderson Group plc shares, including those whose holdings are in the form of CHESS Depositary Interests on the Australian Securities Exchange.
CHESS Depositary Interests, or CDIs, are a way of allowing securities of foreign companies to be traded on the Australian Securities Exchange. CDIs afford shareholders all the same direct economic benefits as ordinary shares, like the right to dividends and the right to participate in rights offers.
Further information
www.henderson.com or
------------------------------------- ---------------------------------
Investor enquiries
------------------------------------- ---------------------------------
Mav Wynn, Head of Investor Relations +44 (0) 20 7818 5135 or
------------------------------------- ---------------------------------
+44 (0) 20 7818 5310
------------------------------------- ---------------------------------
mav.wynn@henderson.com or
------------------------------------- ---------------------------------
investor.relations@henderson.com
------------------------------------- ---------------------------------
Media enquiries
------------------------------------- ---------------------------------
Richard Acworth, Head of Corporate +44 (0) 20 7818 3010
Communications richard.acworth@henderson.com
------------------------------------- ---------------------------------
United Kingdom: Maitland Australia: Cannings
------------------------------------- ---------------------------------
Peter Ogden/George Trefgarne Luis Garcia
------------------------------------- ---------------------------------
+44 (0)20 7379 5151 +61 (0)2 8284 9911
------------------------------------- ---------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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