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Business Description: Henderson Group (HGG) is an international UK based fund manager listed on the ASX and LSE. HGG provides investment management services throughout Europe, North America and Asia.
Strategy Analysis: HGG is focused on managing its businesses to maximise total shareholder return. The focus is on active asset management across a range of investment strategies in equities and fixed income, including hedge funds, as well as property and private capital. Capabilities are expected to increase through acquisition and a focus on specialist products and improved flexibility of the business. Key financial measures of success are trends in margins and profits, rather than pure growth in assets under management. The geographic focus is on Europe, although there is a presence in other major global financial markets such as North America. In order to expand, there is a specific focus on: delivering improved investment performance; developing a sustainable culture to attract and retain the best people; developing innovative specialist products and rapidly bring them to market; and maintaining highly coordinated marketing, distribution and client-servicing activities across all channels.
Henderson Group reported NPAT of GBP99.7m for the year ended 31 December 2012. Revenues from ordinary activities were GBP651.9m, down 5% from last year. Diluted EPS was 9.2 pence compared to 3.4 pence last year. Net operating cash flow was GBP166.8m compared to GBP90.6m last year. The final dividend declared was 5.05 pence, taking the full year dividend to 7.15 pence compared with 7.00 pence last year.
The Age 20/05/2013 |
It is getting virtually impossible to find an expert who believes global equity markets are a risky place to invest. As markets on all continents grind higher and higher, the bears are in danger of becoming extinct and the Winston Churchill "voice in the wilderness" warning us of the troubles ahead seems to have departed the scene. When everyone is in agreement, we should start to get a little worried.
The Age 20/05/2013 |
Tiger Australia has continued to narrow its losses due to stronger returns from fares and is operating without restrictions from air-safety authorities.
The Age 20/05/2013 |
When it comes to forecasting the economy - and thereby the budget balance - the econocrats of the Reserve Bank and Treasury are on a hiding to nothing.
The Age 20/05/2013 |
Markets ought to be about competition. To quote historian Niall Ferguson, they should ensure the survival of the fittest, not the fattest.
The Age 20/05/2013 |
Investment bank Morgan Stanley Smith Barney is being sued after losing more than $5 million from the super accounts of two private clients with a series of "aggressive, highly speculative and high-risk" trades using derivatives and share options.
Sydney Morning Herald 20/05/2013 |
It is getting virtually impossible to find an expert who believes global equity markets are a risky place to invest. As markets on all continents grind higher and higher, the bears are in danger of becoming extinct and the Winston Churchill "voice in the wilderness" warning us of the troubles ahead seems to have departed the scene. When everyone is in agreement, we should start to get a little worried.
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