Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at

Henderson overcomes RDR income fall with performance fee gains

by David Campbell on Feb 26, 2014 at 07:39

Henderson overcomes RDR income fall with performance fee gains

Increased fund flows to higher-margin products and solid performance helped Henderson overcome a 10% fall in transaction fees following RDR to deliver a record year of profits.

The company reported £190 million in profit before tax for 2013, up from £153 million in the same period as the year before, with operating margin actually rising from 34.1% to 35.7%. At 8.10 Henderson was up 2.1% at 248p.

That was despite a fall in transaction fees from £39.2 million to £34.9 million, with the company benefitting from performance fees up more than three-fold from £30.4 million to £94.5 million and total management fee income rising from £301.9 million to £331.9 million.  

‘We have further improved our investment performance and delivered strong returns for our clients across all of our core capabilities,’ said Henderson chief executive Andrew Formica (pictured).

‘Our consistently strong investment performance and market positioning have enabled a turnaround in our retail business and a return to strong positive net inflows, with a retail net inflow of £2.5 billion in the fourth quarter, up from £1.3 billion in the third quarter.

‘The financial strength of our business also continued to improve, allowing us to increase the total dividend by 12% over the prior year.’

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home

As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Sponsored Video: Barings on investing in Frontier Markets

From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.

More about this:

Look up the shares

  • Henderson Group PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them


On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet