Schroders’ net inflows almost halved £2.7bn in Q1 compared to a year earlier, as it releases its interim results ahead of its AGM this morning.
In Q1 2015 net inflows had been £5.1bn, but volatile markets stemmed retail demand in the latest quarter.
The asset manager’s assets under management reached £324.9bn this quarter, compared to £313.5bn in December.
Peter Harrison, chief executive, said the group’s diversified business model had allowed it to navigate this quarter’s volatile markets.
Profit before tax stood at £137.9m down slightly from £149.6m a year earlier.
Intermediary outflows totalled £1.8bn, but net flows were bolstered by £4.5bn of institutional inflows.
The results come ahead of the group’s annual general meeting where shareholders will vote whether to appoint former CEO Michael Dobson as chairman.
The move goes against UK corporate governance best practice and many independent advisory firms have recommended shareholders vote against his appointment.
However, the Schroders family, which owns a 47 per cent stake in the business, is reported to favour the move.