GLOBAL - Henderson Global Investors, a division of AMP, reported institutional net cash flows of A$1.7bn ($861.8m), a 15% increase on Q3, 2000.
The unit also posted a 12% rise in gross inflows for the period to A$9.6bn ($4.8bn). The figures stood despite heavily impacted retail assets which fell to A$415m.
The firm said its institutional business was bolstered by strong mandate wins in the UK and Australia.
Overall, AMP’s assets under management for Q3 2001 saw a 3% downturn to A$281bn ($142.4bn) compared to the corresponding period last year. AMP said that it still expects to deliver double digit growth for the full year 200; Henderson’s is also expected to post figures at or above last year’s core earnings.
By Janet Du Chenne
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.