Henderson Global Investors has reported net inflows of £3bn in Q1 2014 as it continues to enjoy a turnaround in the fortunes of its retail business.
The increase was driven by inflows of £2.9bn into its retail division, up on the £2.7bn reported in Q4 2013 and the £1.2bn reported in Q3.
The latter figure included Henderson's first net equity fund inflow since 2011, and equities have continued to drive AUM growth at the start of 2014, seeing net flows of £2.8bn in Q1.
In the UK, there were "strong net flows" into the Henderson UK Property Unit trust and the Henderson Cautious Managed fund. Overall, ten retail funds saw net inflows of more than £100m during the period.
But it was the SICAV business that accounted for more than half the £2.9bn retail inflow, with the UK retail arm seeing £684m in net flows.
Henderson's pan-European long only and absolute return SICAVs experienced the highest net inflows.
That helped the group's assets under management rise from £75.2bn as of 31 December to £79.2bn by the end of March.
Henderson's institutional business, meanwhile, saw net inflows of £113m as flows into property and segregated mandates offset redemptions from offshore absolute return funds and others.
The group also confirmed it had completed the launch of its TIAA Henderson Real Estate joint venture.
Henderson chief executive Andrew Formica (pictured) said the group made a good start to 2014: "Client demand for European equities was the most significant driver, but solid investment performance and active client engagement worldwide continued to generate interest in all of our core capabilities - European equities, global equities, global fixed income, multi-asset and alternatives.
"In line with our strategy, we are investing selectively in our core capabilities, making new hires and developing our global footprint, all of which should position us well in the years to come."
