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Schroders posts £1.8bn net retail inflow in Q2
05 August 2010
Schroders posted a £1.8bn net retail inflow in the second quarter of the year, helping to propel its first half net retail sales to £5.1bn. The first half net retail sales figure is more than double the £2.5bn posted in the previous year. Institutional clients poured £3.8bn into Schroders mandates in the second quarter, which followed inflows of £6bn in Q1. The group's intermediary funds under management hit £62.7bn at the end of June, while the groups total FUM was £164bn. Schroders' asset management arm posted a profit before tax of £177.3m in the first half, more than triple the figure of £54.1m the corresponding period last year. It has largely driven the group's £188.2m total profit before tax. The strong results have led Schroders plc to increase its interim dividend by 10% to 11p. Published by IFAonline
