Business Services Industry
Tech fund loss leaves dent in Henderson profits.
Australasian Business Intelligence, August, 2001
Aug 24, 2001 (The Australian Financial Review
ABIX via COMTEX) -- AMP Henderson Global Investors' net profit for the half-year to June 2001 fell by $A53m, to $A100m. The poor performance of the AMP business unit was primarily due to the loss of $A69m in one-off performance fees from the Henderson Technology Fund. AMP Henderson lost control of the fund in early 2001, when the fund's shareholders voted against retaining Henderson as the fund's manager. Despite this, AMP Henderson is still the most dominant player in the Australia fund management market, holding an 11.4 market share. The company has $A290bn under management, and in 2000-01 it recorded a net inflow of $A3.6bn.
AMP HENDERSON GLOBAL INVESTORS: AMP LIMITED - ASX AMP: ASSIRT PTY LTD
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