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...
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