Henderson Global Investors won a £1.7 billion extension of its fixed income mandate with Pension Insurance Corporation, boosting efforts to expand its debt and institutional businesses.

Andrew Formica, the firm's chief executive, told Financial News this morning he wants fixed income to be an area of growth for the firm in the coming years: "We are probably under-represented there. Fixed income accounts for about 25% of our assets, whereas I'd see between a third and a half to be a more 'normalised' proportion."