Henderson Group: Difference between revisions
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==Financial Results (to 30 June 2011)== |
==Financial Results (to 30 June 2011)== |
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Underlying profit: £86.4m |
Underlying profit: £86.4m |
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Interim Dividend of 1.95p per share |
Interim Dividend of 1.95p per share |
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Net inflows of £575m into Henderson Retail |
Net inflows of £575m into Henderson Retail <ref name=AR>[http://www.henderson.com/documents/library1/global/group/financialresults/fr-2011-interims-appendix4d.pdf Interim Financial Report]</ref> |
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==Business Model and Governance== |
==Business Model and Governance== |
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Revision as of 04:49, 8 March 2012
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| Company type | Public (LSE: HGG, ASX: HGG) |
|---|---|
| Industry | Investment Management |
| Founded | 1934 |
| Headquarters | Dublin (principal place of business, London) |
Key people | Rupert Pennant-Rea, Chairman Andrew Formica, Chief Executive[1] |
| Products | Equities, Fixed Income, Property, Private Equity |
| Revenue | £488.7 million (2010)[2] |
| £100.7 million (2010)[2] | |
| £77.4 million (2010)[2] | |
Number of employees | 1,100 worldwide[2] |
| Website | www.henderson.com |
Henderson Group plc (LSE: HGG, ASX: HGG) is a global investment management company with its principal place of business in the City of London. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. It is also listed on the Australian Securities Exchange as a member of the S&P/ASX 200 index. It has approximately 113,000 shareholders worldwide.
The company invests in four primary asset classes: equities, fixed income, property and private equity. It has assets under management of £74.4 billion (as at 30 June 2011))[2] and employs around 1,100 people worldwide.
In Europe, Henderson has offices in Amsterdam, Dublin, Edinburgh, Frankfurt, Luxembourg, Madrid, Milan, Paris, Vienna, Zurich and London. Henderson moved into the North American market in 1999, when it acquired US real estate investment manager Phoenix Realty Advisers, and currently has offices in Chicago and Hartford. In Asia, Henderson has offices in New Delhi, Singapore (Asia headquarters), Hong Kong, Tokyo and Beijing as well as in Sydney, Australia.
History
The Company was established in 1934 to administer the estates of Lord Faringdon.[3] In 1975 it started managing pension funds.[3] It was first listed on the London Stock Exchange in 1983.[3]
On re-listing in 2003 the group comprised:
• Henderson Global Investors, a UK-based investment manager
• Life Services (comprising the life and pension books of Pearl Assurance plc, NPI Limited, National Provident Life Limited and London Life Limited, and HHG Services Limited.)
• The financial advisory firm, Towry Law
Acquisitions and sales
| Transaction | Date |
|---|---|
| Acquired Touche Remnant from Societe Generale | 1992 |
| March 1998 bought by AMP Limited (and subsequently integrated with AMP Asset Management's operations
in the UK and Australasia as Henderson Global Investors.) |
March 1998 |
| Demerged from AMP Limited as HHG Group.[4] | 2003 |
| Sale of 50% stake in Virgin Money Group to joint venture partner Virgin Group.[5] | 2004 |
| Sale of Life Services business[6] and change of name to Henderson Group[3] | 2005 |
| AMP Limited sold its remaining 15% stake in the Company.[7] | 2005 |
| Sale of Towry Law, the financial advisory business.[8] | 2006 |
| Acquisition of New Star Asset Management Group PLC.[9] | April 2009 |
| Acquisition of Gartmore Group Limited, giving a combined estimated AUM of £78.1bn as
at 31 December 2010.[10] |
April 2011 |
Since 31 October 2008, the Group has been incorporated in Jersey and tax-resident in the Republic of Ireland.[11]
Financial Results (to 30 June 2011)
Underlying profit: £86.4m
Assets Under Management: £74.4bn
Interim Dividend of 1.95p per share
Net inflows of £575m into Henderson Retail [2]
Business Model and Governance
Henderson Group’s Chief Economist, Simon Ward, is a regular commentator on the economy and markets.[12] Henderson Group’s institutional product range also includes a range of hedge funds (under the Alphagen name[13]), Private Equity and Property.
Property
Henderson has been managing global property assets for three decades.
The majority of Henderson Properties are retail parks and light industrial facilities in strategic European locations such as The Bullring Shopping Centre, the dominant shopping centre for Birmingham and the Midlands, comprising 110,000 sq m of prime retail space. The centre was developed by the Birmingham Alliance, a partnership between the Henderson UK Shopping Centre Fund, Hammerson plc and Future Fund. Other properties include The Quarry in Edinburgh, Serravalle Outlet Mall in Italy, Shopping-Cité in Baden Baden, Parque Miramar in Southern Spain and a light industrial development at Cavaillon in France and offices at Corbas in the South of France.
Governance[14]
Henderson supports the standards of corporate governance contained in the Combined Code on Governance[15] issued by the Financial Reporting Council and the Principles of Good Corporate Governance and Best Practice Recommendations issued by the ASX Corporate Governance Council[16] (the "ASX Principles"). It is a signatory to the UN Principles of Responsible Investment[17].
References
- ^ Times article: Profile of CEO Andrew Formica
- ^ a b c d e f Annual Report 2010 Cite error: The named reference "AR" was defined multiple times with different content (see the help page).
- ^ a b c d Henderson Group History
- ^ Troubled insurance group debuts
- ^ HHG divestment strategy opens with Virgin sale
- ^ AMP wins as UK spin off sells life funds for $2.6bn
- ^ AMP sells the last of Henderson stake
- ^ UK Business Park: Towry Law
- ^ The Times article: Henderson buys New Star for £115m
- ^ Money Observer: Henderson confirms Gartmore takeover
- ^ Henderson to leave UK tax regime
- ^ Journal: Money Moves Markets
- ^ Trustnet offshore mutual fund profile: Henderson AlphaGen Capella
- ^ Henderson Group plc. Corporate Governance: Codes and Principles
- ^ Financial Reporting Council: The UK Corporate Governance Code
- ^ ASX: Corporate Governance Guidelines
- ^ The UN Principles for Responsible Investment
External links