Faced with a jaded image in the wake of the financial crisis, fund manager Henderson Group (HGG) set about rebuilding itself to appeal more to retail investors. That included the acquisition of asset managers New Star and Gartmore - decisions that appear to be paying off.
IC TIP:
Hold
at
245p
Indeed, the measure of the group's comeback was demonstrated by last year’s performance where profits reached record levels. Retail funds grew 30 per cent to £39.3bn and, while institutional assets under management rose less than 2 per cent to £36bn, this would have been higher had it not been for £1.9bn of outflows - driven by one former Gartmore client withdrawing funds.