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Schroders AUM hits record high on surge in net inflows
(Sharecast News) - Asset manager Schroders posted an increase in total group assets under management in the third quarter amid a surge in net new business, excluding joint ventures and associates. Schroders said assets under management rose 5% in the three months ended 30 September to a new high of £816.7bn, partly driven by a significant increase in net new business, excluding JVs and associates, from £300m to £4.9bn. Year-to-date NNB was £9.4bn, also a substantial improvement compared to the prior year's -£3.6bn performance.
Public markets AUM rose to £502bn, while Schroders Capital reached £71.6bn and wealth Mmnagement AUM increased to £136.3bn.
The FTSE 100-listed firm stated clients had added a net £2.2bn in Q3, compared to net outflows of £1bn in the first half and posted £6.7bn in net inflows in its core solutions unit, while also recording positive flows in its private debt and credit alternatives products.
Schroders also said it had continued to make "strong progress" against its strategy by focusing its wealth management business, announcing its strategic decision to exit Indonesia and Brazil, and launching its active ETF range in Europe.
As of 0845 BST, Schroders shares were down 2.85% at 368.20p.
Reporting by Iain Gilbert at Sharecast.com
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