Retail Outflows Damp Henderson Group's 2016 Results; Key Focus for 2017 Will Be Janus Deal
While the biggest news out of narrow-moat Henderson Group during the fourth quarter was the announced merger with narrow-moat Janus Capital Group, the firm saw no real improvement in its managed assets during the period, as total assets under management were flat sequentially (and increased 9.7% year over year) at GBP 101.0 billion. Fourth-quarter retail outflows of GBP 2.2 billion brought full-year outflows to GBP 4.6 billion, indicating a negative 8.1% rate of organic growth. This represented ...
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