Schroders saw its assets under management grow by 14% in first half of the year to £309bn, despite strength in the sterling reducing AUM by £10.2bn in the second quarter.
The group said, in results released this morning, that net inflows of £8.8bn helped boost the AUM figure, up on the £4.8bn reported for the same period last year. However, currency movements played a part in reducing AUM towards the end of the second half. "After a strong start to the year, mounting uncertainties in the eurozone and in China led to increased volatility in financial markets towards the end of the period. In addition, the strength of sterling in the second quarter had the effect of reducing assets under management by £10.2bn by comparison with 31 March 2015." Schrode...
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