Janus and Henderson merge for scale

The deal gives the British and American fund managers more consistency and scale – crucial in an increasingly tough environment for active managers, say industry observers.
Janus Capital is combining with Henderson Global Investors
Janus Capital is combining with Henderson Global Investors

Cross-border mergers between global fund houses don’t happen every day But there are several good reasons why US-based Janus Capital and the UK’s Henderson Global Investors announced on Monday they were combining to form Janus Henderson Global Investors, which will have $322 billion in assets under management

Andrew Formica, chairman of Henderson, summed up the situation succinctly in a conference call today: “Five structural trends are top of mind – namely, rising costs; the need for distribution scale; greater fees and transparency; regulatory changes and associated costs; and the growth of passive funds The combination is a quick response to these challenges ”

One New York-based investment industry veteran was rather starker in his assessment “It’s a...

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