Schroders had a record quarter of net inflows into its funds in the first three months of this year despite a small slowdown in retail sales.
It saw net retail inflows of £3.3 bn, a 3 per cent decline on £3.4bn in the fourth quarter of 2009 and an 11 per cent decline on £3.7bn of net the third quarter last year.
A total of £6bn of institutional net inflows propelled total net inflows for the first quarter to £9.3bn. This took the group’s total funds under management to £167.9bn, which is nearly £20bn higher than the start of the year.
In an interim statement to the stockmarket, the firm says: “The momentum generated in 2009 has continued in the first quarter with high levels of new business reflecting investment performance, the breadth of our product range and strong distribution. More recently, after the strong gains in markets, retail investor demand has slowed, although we continue to see high levels of new business opportunities in institutional. Overall, our business remains well placed for long-term growth.”
Schroders had a record £15bn of inflows in 2009.