Henderson net outflows top £2bn in H1

In its interim financial results for the six months to 30 June 2012, the group said total AUM fell, to £63.6bn, down from £64.3bn at the start of 2012 as net outflows of £2.1bn offset a £1.4bn positive contribution from market and currency movements. Net outflows from the group's institutional and Phoenix businesses neared £1.2bn in the first half, with net retail outflows accelerating from £110m in Q1 to £792m in the second quarter as European investors' early year optimism faded. Underlying profit before tax fell by 8.6% over the six month period to £79m from £86.4m a year previous ...