Henderson takeover stems New Star outflows

Redemptions from the New Star fund range slowed significantly in the months following its takeover by Henderson, with the group noting just a £200m net outflow from April to June.

At 30 June, assets under management on the New Star fund range was £8bn after market movements, just below the £8.1bn on the 9 April acquisition date. While still a sharp outflow, the £200m decline was far lower than the redemption levels seen in the lead-up to the takeover, with the New Star group's AUM at £8.6bn at 27 March and £11.1bn at 31 December 2008. Overall, the Henderson group saw net outflows of £2.9bn during the first half of the year, mostly attributable to the £2.8bn net outflows from Pearl. Retail outflows were £600m, which was partially offset by a £500m net inflow ...