Schroders' net flows into its retail funds dropped to £400m in the first half of 2011, from £5.1bn during the same period last year, as the macro-economic climate spooked investors.
However, the institutional business was strong and helped Schroders' pre-tax profits jump for the first half of the year. Profit before tax stood at £215.7m over the six months to 30 June, up from £188.2m in the first half of last year. Net new business totalled £5.1bn, and assets under management climbed to £204.8bn. The group’s institutional funds saw strong flow across the board, particularly in multi-asset, equities and fixed income, with strong performance from UK and European funds, the firm said. AUM in the institutional product range was £112.7bn, up from £106.4bn at the...
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