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Schroders sees 240% inflow jump in Q1

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Schroders’ assets under management have increased by 11.6 per cent during the opening three months of 2013 after the group witnessed a 240 per cent jump in inflows over the period.

The total amount of money managed by the group stood at £236.5bn as of 31 March, the latest interim statement shows, up from the £212bn reported at the end of last year.

Schroders witnessed net inflows of £5.8bn over the three-month period, increasing 241.2 per cent from the £1.7bn seen one year earlier. Some £3.5bn of the inflows were through intermediary channels, with the remaining £2.3bn coming through institutional.

The company says: “We saw significant retail investor demand in the first quarter on the back of buoyant equity markets.

“While we do not expect demand to continue at this level, we remain well placed for continued growth in intermediary and institutional and we see good potential in private banking and wealth management through the combination with Cazenove Capital.”

During the first quarter the asset manager announced plans to buy Cazenove Capital, which has AUM of £19.1bn in its wealth management and investment funds businesses, for £424m.

The firm also completed on the US investment-grade fixed income manager STW Fixed Income. The company’s AUM of £7.3bn are not included in the latest results.

Schroders’ group profit before tax was £115m for the first quarter, up 20 per cent on the £95m reported in the same period of 2012.

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