Henderson feeling special as 2011 profit set to soar
FUND manager Henderson said profit will rise by more than half despite global turmoil hitting the markets.
The firm expects underlying profit for 2011 to reach between £155m and £159m, which would take it to growth of up to 57.9 per cent. It also said it should earn £11m in performance fees for the second half of the year.
Henderson, which manages more than £65bn in client assets, has focused on attracting more money to higher-margin products. It recently signed up Real Madrid and former Chelsea boss Jose Mourinho – the self-styled “special one” – to help promote its brand against a backdrop of sluggish business and flatlining fund fees.
Earlier this year it said it was winding down its low-fee earning businesses to focus on more lucrative active fund management. Separately it is mounting a vigorous defence against legal claims from a group of pension funds over the handling of its investment in construction firm John Laing.