Schroders stems retail redemptions in Q1

In its interim management statement this morning, the fund manager says demand in fixed income and robust investment performance across most asset classes led it to bounce back from the £3.1bn net retail outflow it recorded in the fourth quarter of last year. However, a £2.4bn institutional outflow contributed to the firm's AUM decline from £110.2bn to £103.1bn at Q1 end. The fund manager also announced its profit before tax and exceptional items fell by almost 54% to £36.1m in the period. "The high level of volatility in financial markets in the first quarter is likely to persist and c...