WEST PALM BEACH, FL (www.hedgeco.net) – Henderson Group said its first-half profit quadrupled, such profit resulted from its sales of hedge funds. According to Bloomberg news, net income at Hendersonjumped to about BP 23.7 million, rising from BP 5.1 million the previous year. The firm also that while the total assets under management fell from BP69 billion at the beginning of 2005, due towithdrawals from low fee paying institutional clients.<\/p>\n
While Henderson institutional sales declined, the asset manager is concentrating on more profitable client base. According to Bloomberg reports, Henderson is growing its hedge fund assets, adding additional $40 million to its hedge fund portfolios. Henderson\u00c3\u00af\u00c2\u00bf\u00c2\u00bds assets under management grew by $1.9 billion during the past six months.<\/p>\n
The firms\u00c3\u00af\u00c2\u00bf\u00c2\u00bd mutual fund portfolios also jumped by additional $280 million through sales to U.S. based clients and by $40 million from the firm\u00c3\u00af\u00c2\u00bf\u00c2\u00bds Singapore-based mutual fund clients.<\/p>\n
The British based Henderson Group oversees over $119.3 billion of assets under management. The firm is also planning to launch additional hedge funds during the second half of 2005. No details have been provided about the type of hedge funds, or when such new instruments will be available to investors.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net<\/p>\n
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