Henderson Group
Encyclopedia
Henderson Group plc 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 ASX200 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)) 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.
. In 1975 it started managing pension funds. It was first listed on the London Stock Exchange
in 1983.
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
Since 31 October 2008, the Group has been incorporated in Jersey and tax-resident in the Republic of Ireland.
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
Henderson Group’s institutional product range also includes a range of hedge funds (under the Alphagen name), 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
Henderson supports the standards of corporate governance contained in the Combined Code on Governance issued by the Financial Reporting Council
and the Principles of Good Corporate Governance and Best Practice Recommendations issued by the ASX Corporate Governance Council (the "ASX Principles"). It is a signatory to the UN Principles of Responsible Investment.
City of London
The City of London is a small area within Greater London, England. It is the historic core of London around which the modern conurbation grew and has held city status since time immemorial. The City’s boundaries have remained almost unchanged since the Middle Ages, and it is now only a tiny part of...
. It is listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and is a constituent of the FTSE 250 Index
FTSE 250 Index
The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies on the London Stock Exchange. Promotions to and demotions from the index take place quarterly in March, June, September and December...
. It is also listed on the Australian Securities Exchange
Australian Securities Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
as a member of the ASX200 index. It has approximately 113,000 shareholders worldwide.
The company invests in four primary asset classes: equities, fixed income
Fixed income
Fixed income refers to any type of investment that is not equity, which obligates the borrower/issuer to make payments on a fixed schedule, even if the number of the payments may be variable....
, property
Property
Property is any physical or intangible entity that is owned by a person or jointly by a group of people or a legal entity like a corporation...
and private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
. It has assets under management of £74.4 billion (as at 30 June 2011)) 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 FaringdonAlexander Henderson, 1st Baron Faringdon
Alexander Henderson, 1st Baron Faringdon, CH , known as Sír Alexander Henderson, 1st Baronet, from 1902 to 1916, was a British financier and Liberal Unionist Member of Parliament.- Biography :...
. In 1975 it started managing pension funds. It was first listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
in 1983.
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 Société Générale Société Générale S.A. is a large European Bank and a major Financial Services company that has a substantial global presence. Its registered office is on Boulevard Haussmann in the 9th arrondissement of Paris, while its head office is in the Tours Société Générale in the business district of La... |
1992 |
| March 1998 bought by AMP Limited AMP Limited AMP Limited is an Australian financial corporation. It operates primarily in Australia and New Zealand. AMP formed in 1849 as the Australian Mutual Provident Society, a non-profit life insurance company. In 1998 it was demutualised and listed on the Australian and New Zealand stock exchanges... (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. | 2003 |
| Sale of 50% stake in Virgin Money Virgin Money Virgin Money is a UK-based financial services company owned by the Virgin Group and founded by Sir Richard Branson in March 1995. It was originally known as Virgin Direct, and pioneered index tracking by launching a value Personal Equity Plan into the market. In the 2000s Virgin Money expanded its... Group to joint venture partner Virgin Group Virgin Group Virgin Group Limited is a British branded venture capital conglomerate organisation founded by business tycoon Richard Branson. The core business areas are travel, entertainment and lifestyle. Virgin Group's date of incorporation is listed as 1989 by Companies House, who class it as a holding... . |
2004 |
| Sale of Life Services business and change of name to Henderson Group | 2005 |
| AMP Limited sold its remaining 15% stake in the Company. | 2005 |
| Sale of Towry Law, the financial advisory business. | 2006 |
| Acquisition of New Star Asset Management New Star Asset Management Henderson New Star was established in April 2009 when Henderson Group acquired New Star Asset Management and rebranded its UK retail business. Henderson New Star was rebranded Henderson Global Investors in April 2010.... Group PLC. |
April 2009 |
| Acquisition of Gartmore Gartmore Gartmore is a village in the Stirling council area, Scotland. It is a picturesque little village with an excellent view of the Wallace Monument in Stirling, almost 25 miles away.... Group Limited, giving a combined estimated AUM of £78.1bn as at 31 December 2010. |
April 2011 |
Since 31 October 2008, the Group has been incorporated in Jersey and tax-resident in the Republic of Ireland.
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
Business Model and Governance
Henderson Group’s Chief Economist, Simon Ward, is a regular commentator on the economy and markets.Henderson Group’s institutional product range also includes a range of hedge funds (under the Alphagen name), 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
Henderson supports the standards of corporate governance contained in the Combined Code on Governance issued by the Financial Reporting Council
Financial Reporting Council
The Financial Reporting Council is the UK's independent regulator responsible for promoting high quality corporate governance and reporting to foster investment.-Structure:...
and the Principles of Good Corporate Governance and Best Practice Recommendations issued by the ASX Corporate Governance Council (the "ASX Principles"). It is a signatory to the UN Principles of Responsible Investment.