Schroders' retail arm hit by investor market fears

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...