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
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