The chief executive of Henderson Global Investors maintained his company was “moving in the right direction” but added there was "still more work to do", as the UK fund manager reported net outflows of over £1bn for the first quarter of 2013.

Investors pulled a net total of £1.3bn from Henderson in the year to March 31, according to figures released today. This included the cancellation of one £840m global equity mandate that contributed to around £1.2bn of net outflows from institutional clients.