Schroders sees Q3 assets rise to $698 billion

Credit: REUTERS/ARND WIEGMANN

British fund firm Schroders reported a 2% rise in assets under management to 536.3 billion pounds ($698 billion) on Thursday, boosted by modest inflows across all of its business divisions.

LONDON, Oct 15 (Reuters) - British fund firm Schroders SDR.L reported a 2% rise in assets under management to 536.3 billion pounds ($698 billion) on Thursday, boosted by modest inflows across all of its business divisions.

Client cash managed in its asset management unit also increased by around 9 billion pounds to 469.5 billion pounds over the three months to end-September, while assets managed by its solutions business rose to 179.4 billion pounds, from 175.2 billion pounds in July.

The money manager saw half-year profits to end-June fall by 10% after the pandemic sparked heavy outflows from mutual funds.

($1 = 0.7683 pounds)

(Reporting By Sinead Cruise; Editing by Dhara Ranasinghe)

((sinead.cruise@thomsonreuters.com; 020 7513 5026; Reuters Messaging: sinead.cruise.thomsonreuters.com@reuters.net))

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