Fund manager Henderson has seen net outflows in the first quarter of 2012 but assets under management (AUM) have grown on the back of the recovery in equities.
Net outflows from the UK and US retail arms were £392m, more than offsetting net inflows of £291m from the European retail and investment trusts divisions.
AUM increased by £2.4bn to £66.7bn at 31 March 2012.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The firm also says it has repaid debts of £142.6m from existing cash resources.
Andrew Formica, Henderson's Chief Executive said: "Although equity markets are higher than at the beginning of the year, continued market volatility and economic uncertainty during the period have kept investor demand for risk assets subdued.
"Whilst we expect markets to remain volatile, I am confident that our product diversity, investment performance and relentless client focus, position us well for the future."
The future wasn't looking very bright in early trading; Henderson shares had dropped 3.9% by 08:07 leaving the stock 27.5% down over the last 12 months.
BS
-
Which UK region has the most in savings? Average savings by areaThe amount people have in their savings differs from region to region in the UK. How does your nest egg compare to those living nearby?
-
Doug and Mary Perkins: Specsavers’ clear-sighted foundersHelped by the deregulation of the sector in the 1980s and brilliant advertising, Mary Perkins and her husband Doug have taken Specsavers to the top of the optometry market
