Schroders’ share price has plunged after the asset manager reported £2.3bn of quarterly outflows and warned £10bn in client redemptions will follow in the coming quarter.
In a trading statement today (5 November), the FTSE 100 firm said assets under management had reached a record-high of £777.4bn at the end of September, up from £773.7bn in the previous quarter. Net outflows, which included £2.6bn in redemptions from joint ventures and associates, were offset by £6bn in gains from market movements, foreign exchange, and investment performance. Excluding JVs, Schroders recorded £300m in net inflows for the quarter. Schroders expands group CIO role and appoints CFO to replace Richard Oldfield Schroders' asset management division reported £700m in net...
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