28th Apr 2016 06:30
LONDON (Alliance News) - Schroders PLC on Thursday said assets under management grew over the course of the first three months of 2016, bolstered by net inflows of GBP2.7 billion and investment returns of GBP8.7 billion.
Assets under management grew to GBP324.9 billion from GBP313.5 billion during the three months ended March 31, Schroders said in a statement.
Pretax profit fell to GBP137.9 million in the three months ended March 31 from GBP141.7 million the corresponding quarter a year earlier.
"In volatile markets, our diversified business model delivered solid results with profit before tax in the first quarter of GBP137.9 million. Our clients invested GBP2.7 billion of net new business as assets under management increased to a record level of GBP324.9 billion," Chief Executive Peter Harrison said in a statement.
By Samuel Agini; [email protected]; @samuelagini
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