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August 26, 2006
Hedge Funds Contribute to Revenue Rise
Money management companies are consolidating declining revenues by turning to high-fee investments such as hedge funds. Henderson Group Plc announced that its first-half profit increased by as much as 30 percent ever since the money manager turned its focus to high-margin specialist products. The London-based company’s net income touched 35.4 million pounds, a substantial increase from the figure of 27.2 million pounds a year earlier. Bloomberg reports:
The company will return 200 million pounds of capital to shareholders later this year. It also plans to give between 150 million pounds and 200 million pounds back to investors in 2007, Chief Executive Officer Roger Yates said.
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