Henderson braced for tougher second half

Fund manager Henderson Group said today it was preparing for a tougher second half to the year as market volatility is expected to hit investment levels.

The firm, which operates under the 73-year-old Henderson Global Investors brand, said it “had to assume” fund flows would be impacted by the turbulence sparked off by a sub-prime mortgage default crisis in the US.

The group reported a £300m (€442m) drop in interim assets under management since the end of last year, but said new product launches and a focus on higher-margin business would help it weather the storm.