Fund manager puts pounds 1m on name
Tuesday 10 June 1997
Dugald Eadie, managing director, said the rebranding of its funds under the Henderson Investors banner had already paid dividends with more consultants displaying a willingness to recommend the group. "We feel we have a better, crisper image. People now don't have to keep track of half a dozen different companies."
He said the company was continuing to improve after a rash of client defections two years ago. Pre-tax profits rose from pounds 20.2m to pounds 20.8m in the year to 31 March with funds under management and administration rising by 12 per cent to pounds 15.9bn. Henderson added over pounds 1bn of net new client funds during the year. "We started turning the corner last year. We are now coming up the hill," Mr Eadie said.
Though the gain in UK institutional funds was modest, the company said it had won its first balanced pension fund account for some years. It claimed its above average UK pension fund performance over one, three and five years had put the company in a strong position to win more new business
In the personal investors division, the UK retail funds grew, helped by buoyant stock markets. Gains in international funds continued with Seligman Henderson again achieving strong growth. Funds under management there grew from pounds 1.8bn to pounds 2.2bn. The increasing demand for specialist administration skills boosted funds under management in this area from pounds 2.3bn to pounds 2.7bn.
Ben Wrey, Henderson chairman, said: "Our central challenges at Henderson have been to manage changes in our business mix and following our success in the United States with Seligman Henderson. We have made tangible further progress during the year."
Earnings per share during the year grew 5 per cent to 65.14p. The second- half dividend of 31.5p makes a total of 45p.
Newcastle manager taunted again as his side loses to Stoke
- 1 Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
- 2 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
- 3 The Simpsons death: Creator Al Jean would 'kill himself' before a character like Homer or Lisa
- 4 British man raped while urinating in bushes at Oktoberfest beer festival in Germany
- 5 Pope Francis assures atheists: You don’t have to believe in God to go to heaven
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Isis an hour away from Baghdad - with no sign of Iraq army being able to make a successful counter-attack
Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
British man raped while urinating in bushes at Oktoberfest beer festival in Germany
George Clooney and Amal Alamuddin wedding: The famous congratulate actor and human rights lawyer after Venice nuptials
Isis, we are told, is a 'clear and dangerous threat to our way of life'. I’m sorry, but I just don’t buy it
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
'Women, walk wherever you want' posters taken down in Stamford Hill following 'unacceptable' signs separating men and women
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Mark Reckless becomes second Tory MP to defect to Ukip in a month
Should gay sex be illegal? 16% of Britons think so
- < Previous
- Next >
iJobs Money & Business
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...
£300 - £330 per day: Ashdown Group: SQL Developer (Stored Procedures) Watford...