LONDON, April 24 (Reuters) - Investment manager Henderson Group added 3 billion pounds ($5.03 billion) of net new money in the first quarter of 2014, mostly driven by increasingly confident retail clients.
In a trading statement on Thursday, Henderson said assets under management reached 79.2 billion pounds at the end of March, up from 75.2 billion pounds at the end of 2013.
“The strong support we saw from clients at the end of 2013 in our retail business continued through the first quarter and in our institutional business, flows were stable,” Chief Executive Andrew Formica said.
Formica added demand for European equities as the region recovered from the Euro zone sovereign debt crisis was the biggest driver of investor demand.
$1 = 0.5960 British Pounds Reporting by Chris Vellacott. Editing by Clare Hutchison