Henderson saw assets under management fall 3 per cent in the third quarter but experienced net inflows of £800m ($1.2bn) amid “worsening market conditions”.

The fund management group, which issued a profit warning in October, said it saw £1.5bn inflows from lower-margin institutional investors largely into its money funds but £200m outflows from its higher-margin retail funds, especially in the US and Europe. Fund flows to the UK retail business were positive.