Henderson Global Investors’ chief executive Andrew Formica doffed his cap in the direction of quantitative easing after market and foreign exchange gains helped propel his firm’s assets higher in the first quarter.

The fund manager's total assets under management grew by 10% over the three months to March 31 to £89.4 billion from £81.2 billion at the end of December 2014 and £79.2 billion at the end of the first quarter last year.