Schroders nets £8.3bn inflows amid market volatility

Schroders-Building-700x450.jpgSchroders saw £8.3bn of inflows in the nine months to the end of September, up from £7bn last year and amid a period of market volatility.

The asset management arm saw £4.6bn of inflows for intermediary business and £3.5bn for institutional flows, according to its interim management statement, released today.

Assets under management at the division were £263.9bn, up from £245.7bn at the end of September last year. Net revenue at the division was £1.0bn, while profit before tax was £391.3m, up from £341.6m last year.

“These results reflect the resilience of our diversified business at a time of heightened market volatility,” says Michael Dobson, chief executive at Schroders.

The wealth management division saw a drop in revenues and inflows in the period.

Inflows for the nine months were £200m, down from £400m last year, although assets under management were up by £400m to £30.9bn on last year.

Profit before tax at the group level was up 21 per cent on last year, to £438.9m.