Schroders has reported a near doubling in retail fund flows in the first half of the 2010, compared with the first six months of 2009.
In its half-yearly results published today, the group reported net retail inflows of £5.1 billion, up from £2.5 billion in the first half of 2009.
Net institutional inflows meanwhile totalled £9.8 billion in the first half of the year, up from the £0.8 billion net outflows reported in the first half of last year.
The group’s intermediary funds under management hit £62.7 billion at the end of June, a rise of £3.6 bililon from £59.1 billion at the end of December. (article continues below)
Micheal Dobson, the group’s chief executive, said in a statement to the London Stock Exchange that he expects markets to remain volatile, which is likely to impact retail investor demand.
The group reported a total profit, before tax, of £188.2m, up from the £36.3m profit reported in the same period last year.