Schroders suffers £3bn intermediary net outflows in volatile H1

EU referendum weighs on sentiment

Schroders reported total net inflows for the business fell to £0.7bn during the first half of the year, down from £8.8bn during the equivalent period in 2015, as volatile markets and the EU referendum weighed on investor sentiment.

The intermediary channel was worst affected by the uncertain market backdrop, with net outflows of £3.3bn for the period. Assets under management for this part of the business were £106.4bn at the end of June, down from £102.4bn at the end of the equivalent period in 2015. Meanwhile, the wealth management channel suffered net outflows of £0.4bn, all of which were in the second quarter. However, the institutional channel delivered net inflows of £4.4bn, with strong client demand in multi-asset and fixed income strategies and from UK and continental European clients, according to the gr...