Henderson sees assets take a dip

Fund manager Henderson Group reported a slight dip in assets under management in the first quarter but said the integration of rival Gartmore which it took over last month is ahead of schedule.

In its first trading statement since confirming the takeover, Henderson said Gartmore staff have moved to its offices and now operate on its own systems and processes.

Henderson added it expects the majority of fund mergers and the integration of third party administrators to be completed by the end of the third quarter of 2011.

Assets under management for the group stood at £76.2bn at the end of March, including £15.7bn taken on from Gartmore, said chief executive Andrew Form- ica.

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