Gartmore posts £7.2bn outflow for 2010

Gartmore's annual results, released today, show £7.2bn of assets left the firm in 2010, compared to a net inflow of £300m in 2009.

Following a tough year for the firm, net revenue was £223.7m in 2010, up from £208.7 the previous year, while AUM shrank from £22.2bn to £17.2bn. It also faces an FSCS levy of £2.1m. Gartmore’s results state: “Since the year end the group has experienced net outflows (net of notified redemptions) in January of £390m and up to 18 February of £402m. "However, since the year end markets have been positive, partially offsetting these outflows.” Meanwhile Henderson reported pre-tax profits of £76.5m over the 12 months to 21 December 2010, compared to £15.5m the previous year, while AUM ...