Schroders expects further fall in retail fund sales

The asset manager has already experienced an investor exodus in the first half of the year, with the firm’s retail range recording a £200m outflow. Schroders says the extreme volatility has had a significant impact on retail demand, with the first-half net redemption a far cry from the record £3.6bn net inflow in H1 2007. The outflow and a negative £4.8bn market movement sent the firm’s retail funds under management down from £56.2bn to £51.2bn during the period. Overall, Schroders’ FUM fell from £139.1bn to £130.2bn. Investment write-downs and a sluggish private equity division sent ...