LONDON, Oct 29 (Reuters) - Fund manager Henderson Group HGGH.L said on Thursday that assets under management (AuM) fell 0.7 percent in the third quarter, hit by market weakness and currency-related losses.
AuM in the three months to end-September were 81.5 billion pounds ($124.36 billion), down from 82.1 billion pounds in the prior quarter, it said in a statement. The fall was driven by a 1.9 billion pound hit from the adverse market and forex moves.
Despite the market weakness, though, it took in net new money for the quarter of 1.3 billion pounds, driven by strong demand from retail clients for European assets, particularly those accessed through income and absolute-return strategies.
Looking ahead, Chief Executive Andrew Formica said "we expect market conditions to remain challenging and regulatory oversight of asset managers to continue to intensify". ($1 = 0.6554 pounds)